Updated over 4 years ago on . Most recent reply
Driveway Parking Spot Rental
I live across the street from a new apartment building in Minneapolis, MN that didn't have to provide parking as part of the build. We live close to the light rail so I guess the City thought people wouldn't have cars. The amount of cars parked on the street has increased significantly - go figure. Winter here can be pretty brutal and parking on the street gets tough. I have an extra spot in my driveway and am considering offering it for rent to one of these apartment dwellers. Has anyone done this? What do I need to consider? Thoughts on pricing?
Most Popular Reply
@Kim Feldkamp I would absolutely rent it. It's supply and demand so I would start at $100/month which is F'ing crazy but your not looking for volume, you only need one person who values not walking 1-3 blocks in the Winter and can't afford to have their car towed. The main consideration is they pay year-round, don't give them an out to take your best months, and stiff you in the Summer. Also, have a policy that is reasonable to be able to move the car or have them move the car for snow removal. Lastly, you need an attorney to write up a waiver of liability. They should also prove insurance to you.