Over the last few months, a new rental phenomenon has been gaining more and more coverage - letting out driveways.

Whether private landlords see this as a lucrative way of using their properties is up to them, but a company involved in the new industry, Park Let, has claimed that up to £6,500 a year can be made from allowing someone else to park outside their homes.

Park Let has produced a league table of the most lucrative areas for renting out driveways and it is Brompton in London that stands at the top of the chart.

Luke Kelly, managing director of the firm, said private landlords and other homeowners could find renting out their driveway a good way of boosting finances.

Indeed, the BBC recently revealed how the process is becoming a hit during these tough economical times.

"Although the top ten rental areas in the league table are perhaps better known for being commercial centres than residential areas, property owners in all locations could earn extra income by renting out their driveway or garage,"Mr Kelly explained.

Mayfair and Leicester Square were also listed as profitable areas for driveway and garage letting.

Written by Sarah Field
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