Renting Parking space

L

Lizard

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125
Hi,
I'm thinking of renting out my parking space which is in an apartment block. I'm the owner occupier. Any advice? What could go wrong? Should I inform the management co.? I know other residents rent car space, but I'm not that close to them, so am reluctant about quizzing them.
Thanks.
 
Lizard said:
Hi,
I'm thinking of renting out my parking space which is in an apartment block. I'm the owner occupier. Any advice? What could go wrong? Should I inform the management co.? I know other residents rent car space, but I'm not that close to them, so am reluctant about quizzing them.
Thanks.
Click to expand...

No need to inform management co,you will need to secure a replacement cost deposit against the fob/zapper,ring up the mgt co and ask the replacement cost,it can be quite high,I have known them to cost upwards of e190...crazy money,the mgt co take the view that it discourages renting out of spaces and focuses the mind of owners to the true worth/value of fob.

Look at daft (e25 for an ad...way way too much) area and see what the average rent is in your area,or advertise in communal area of your apt if your space is in the city centre,happy days,if further out...not a great demand.

When you do find a taker,send them a text outlining the rent,that they are parking at their own risk,not to leave valuables in car,and failure to pay the monthly rent will likely result in the car getting clamped.

Give them a bank a/c details into which the monthly rent is too be paid agree a date on which this stipend will be paid.
 
As with "owning" an apartment, the parking space is actually owned by the management company and leased to you for your personal use. Check your lease but it would be unusual if you could sub-let the space without the consent of the MC.
 
shesells said:
As with "owning" an apartment, the parking space is actually owned by the management company and leased to you for your personal use. Check your lease but it would be unusual if you could sub-let the space without the consent of the MC.
Click to expand...

Does it follow through from your statement that you can't rent out your apartment without MC consent also? I'm sure the OP paid big money for that parking space and as long as the potential renter abides by the rules, there should be no problem.
 
Thank you all for your sound advice. Knuttell that was good advice about what to say in text, was worried if anything happened the car the onus would be on me. Fob is expensive I know. Didnt know D*ft were charging now! I'll probably advertise locally. The parking space was added to the mortgage when I bought the apartment, so I guess it's mine? I pay a sum towards the upkeep of the garage every year too.
 
I agree with Shesells....I'd definitely check your lease, as I think it's highly unlikely the Mgmt Co allow this.

The development I live in is currently cracking down on this so I would tread carefully. Currently our mgmt co are employing the gardai to scan car registrations to try to deal with cars that re dumped in our car park due to being uninsured, untaxed, broken down etc. From what I hear there are issues with this in a lot of developments.

FTB1975
 
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