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Many Australians would eagerly seize the opportunity to earn some additional money, and thousands are doing so by renting out their vacant parking spaces.
Side hustles are thriving in 2025, with nearly 40 percent of Australians expressing a desire to have one alongside their main jobs, as revealed by a survey conducted by Small Business Loans Australia.
And on first glance, renting out a car space may seem like the easiest, most lucrative option.
That doesn’t stop some tenants from flouting the law and trying to lease their unused car spots without asking.
“What you see in practice instead is that the landlord just doesn’t know.”
Strata bylaws also apply to tenants, so it’s important for renters to check they’re not breaking any rules before trying to rent out a car space.
“No one, especially not a tenant, wants to end up in a legal fight with an owners corporation. It’s just not worth it,” Farmer said.
What is a car space worth?
Those in Australia considering renting out their parking spots can earn up to $450 monthly, as reported by Parkhound, a leading parking marketplace in the country.
Its website claims outdoor and driveway spots can go for up to $300 per month, while undercover spots can go for up to $400 per month.
Indoor parking spots or spaces for rent in lockup garages go for up to $450 per month.
But the value of a parking space largely depends on the location, with some spots in the Sydney CBD listed as high as $850 per month.
Some Australians list car spaces for rent on Facebook Marketplace, where 9news.com.au has sighted spots in Mascot listed as low as $35 per week (about $140 per month).
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Are you liable if you rent out your car space?
You may be liable for any damage to someone’s car or person if it occurs on your property, even if that’s only a car spot.
”It would be a good idea to put your insurer on notice that somebody else is using the property for that purpose,” Farmer said.
Any income from leasing a car space may also be subject to income tax, so it’s important to keep records of any lease agreements and payments for tax time.
“When in doubt, seek legal advice,” Farmer said.
The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs.
