Most Australians would jump astatine nan chance to pouch immoderate other rate and thousands of group are doing conscionable that by renting retired their unused car spots.
Side hustles are booming successful 2025 and almost 40 per cent of Australians want to tally 1 alongside their regular jobs, according to a Small Business Loans Australia survey.
And connected first glance, renting retired a car abstraction whitethorn look for illustration nan easiest, astir lucrative option.
Some Australians are charging up to $850 per period for parking spaces they don't request successful engaged cities for illustration Sydney aliases Melbourne.
The only problem is they whitethorn beryllium breaking nan rule aliases strata bylaws by doing so.
Is it ineligible to rent retired your car abstraction if you ain a home?
If you ain a location pinch a car shed aliases driveway, nan reply is usually yes.
It whitethorn beryllium different if you ain a unit, townhouse aliases villa according to strata lawyer Amanda Farmer.
"First of all, you want to cheque that you really ain your car space," Farmer told 9news.com.au.
"Some spaces are communal spot ... truthful if it's not really portion of your lot, nan spot that you own, past you're going to request support from nan owners corp to lease it."
If you do ain your parking spot, you'll request to cheque location are nary strata bylaws that would forestall you from leasing it out.
It's forbidden for strata to restrict really residents usage their tons but immoderate valid bylaws, for illustration those that reside information risks, could get successful nan way.
For example, a strata bylaw that limits nan number of building entree fobs residents tin clasp for information reasons whitethorn besides limit their expertise to rent retired a car spot.
If a mates that owns a one-bedroom portion is constricted to 2 fobs, they can't springiness 1 to a non-resident renting their car spot because it would time off 1 of them incapable to entree nan building.
"Buildings are very alert of this. They spot it arsenic a believe they want to stamp out, and they're tackling it from that information angle, which is simply a beautiful easy measurement to tackle it," Farmer said.
"Even if you ain your space, cheque nan bylaws that there's nary restriction."
Is it ineligible to rent retired you car abstraction if you're a renter?
As for nan 2.9 cardinal Australian households that are renters, they besides request to get landlord support if they want to rent retired a car spot that is portion of their lease.
Most modular residential leases prohibit tenants from sub-letting without nan landlord's consent, whether it's a 2nd chamber aliases a car space.
"If you want to springiness personification other exclusive usage of portion of nan property, you're going to request nan landlord's consent – it doesn't matter which portion that is," Farmer said.
That doesn't extremity immoderate tenants from flouting nan rule and trying to lease their unused car spots without asking.
"What you spot successful believe alternatively is that nan landlord conscionable doesn't know."
Strata bylaws besides use to tenants, truthful it's important for renters to cheque they're not breaking immoderate rules earlier trying to rent retired a car space.
"No one, particularly not a tenant, wants to extremity up successful a ineligible conflict pinch an owners corporation. It's conscionable not worthy it," Farmer said.
What is simply a car abstraction worth?
Australians looking to rent retired their car abstraction tin dress up to $450 per month, according to Parkhound, 1 of nan astir celebrated parking marketplaces successful Australia.
Its website claims outdoor and driveway spots tin spell for up to $300 per month, while undercover spots tin spell for up to $400 per month.
Indoor parking spots aliases spaces for rent successful lockup garages spell for up to $450 per month.
But nan worth of a parking abstraction mostly depends connected nan location, pinch immoderate spots successful nan Sydney CBD listed arsenic precocious arsenic $850 per month.
Some Australians database car spaces for rent connected Facebook Marketplace, wherever 9news.com.au has sighted spots successful Mascot listed arsenic debased arsenic $35 per week (about $140 per month).
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Are you liable if you rent retired your car space?
You whitethorn beryllium liable for immoderate harm to someone's car aliases personification if it occurs connected your property, moreover if that's only a car spot.
"It would beryllium a bully thought to put your insurer connected announcement that personification other is utilizing nan spot for that purpose," Farmer said.
Any income from leasing a car abstraction whitethorn besides beryllium taxable to income tax, truthful it's important to support records of immoderate lease agreements and payments for taxation time.
"When successful doubt, activity ineligible advice," Farmer said.
The accusation provided connected this website is wide successful quality only and does not represent individual financial advice. The accusation has been prepared without taking into relationship your individual objectives, financial business aliases needs. Before acting connected immoderate accusation connected this website you should see nan appropriateness of nan accusation having respect to your objectives, financial business and needs.
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