Residents of THRIFTY earn a small fortune flogging parking spots in their driveways during the Wimbledon tennis tournament.
Landlords in affluent south London charge up to £65 a day for a coveted spot near the All England Club, meaning those with the biggest properties can rake in £16,000 in just 14 days.
Terry Moore, who has lived in the area with his wife of 47 years, is earning just over a grand over the two-week Championships.
But neighbors who have room for 15 vehicles to park on their lot can earn a lot more.
The 76-year-old, who has only attended one game as he prefers to watch the action on TV, said: “I’ve been doing this for about eight years and it’s very popular.
“People can book ahead or I’ll stand in my way with a sign until someone walks past.
“Sometimes people line up for a seat, other times I have to wait an hour or two.”
Terry, who charges £20 a day, added: “I keep the money.
“If I charged more I would probably give it to charity, but I charge less than my neighbors who charge £30 and £40.
“Over the two weeks I will probably earn around £1,000.
“I’m going to Amsterdam in August so it will pay for that – and a present for the wife.”
Further down the leafy suburban street of Terry is a mother-of-two who rents out five or six spaces in her driveway for £30 a day.
The owner, who has lived in the area with her partner and two sons for 30 years, said: “My neighbors charge £40 but I charge less.
“What I do varies, but I don’t need to advertise as I’m usually very busy.”
The woman, from Pakistan, who did not want to give her name, added: “At first we weren’t doing this, but five or six years ago I started and I can use this money well. .”
While most locals say they earn modest sums, those with the biggest homes can take in big bucks.
A homeowner stood with a clipboard and a pen in front of his sprawling detached house where 15 cars were already parked.
He declined to give his name or reveal exactly how much he charges, but two women who had just left their keys with his pal said they paid £65 for 24 hours.
There was space for at least three other vehicles, meaning the guy could earn up to £16,000 over the two weeks if he charged the same rate at 18 cars a day.
I’m going to Amsterdam in August so it will pay for that, and a present for the wife.
One of the women, who had just left her car, said: “We paid £65 which we thought was pretty good.
“When we tried to book parking elsewhere there were lots of different prices, even up to £150 a day.
“Apparently they go very, very fast, so we just wanted to get it straightened out. Also, we’re only a three-minute walk from the courts.”
While it’s completely legitimate to rent out space on your property, there are a few things you need to consider first.
Be sure to check with your home insurance provider, in case this invalidates your policy. You may need to purchase additional coverage to protect yourself in case someone causes damage while parking.
Don’t forget the tax department either. You can earn £1,000 a year before paying tax by renting space on your land, such as your driveway, carport or garage.
This is due to something called the property allowance, which resets with each new tax year’s stat on April 6.
But any profits you make above this amount must be declared to HMRC through a self-assessment tax return.
Many of those who rent parking spaces pocket the money for themselves, but many also donate their proceeds to charity.
John Lloyd has lived in Wimbledon with his wife for 40 years and has rented his car for 30 years.
The retired conference interpreter said: “We’ve been busy every day so far, mostly with regular clients.
“I believe All England charge £35, but I charge less than that.
“It’s always a maximum of £30, often £25, but it depends on who it is and the brand of car.
“The smaller the better so I can fit in more and they are easier to move around.”
The 86-year-old, who speaks Russian, French and German, added: “All the money I earn goes to good causes, as it does for a lot of locals, but not everyone. .
“Charitable donations will be well into the four figures.
“As my son has autism, we donate a lot of the money to the National Autistic Society, as well as various animal charities.
“My wife cares a lot about birds, so we also donate the Royal Society for the Protection of Birds.”
Another woman, who rents out space on her record for £30 a day, also said she donates the money she earns to charity.
The resident, who wished to remain anonymous, said: “I am sponsoring a student at Nottingham Trent University and the money is funding his summer to do guided research into malnutrition.
“The university has a fairly high proportion of less privileged students, so they apply for this award and this money covers their fees.
“I’ve been doing this for about 28 years and have donated to various causes.”
The owner, who has lived at Wimbledon since 1987, added: “I can fit 10 cars on my ride, 11 if they’re small, so I usually earn between £2,500 and £3,000.
“But this year won’t be the same because they redirected all the traffic.
“We have the miserable buses going by. Apparently they changed the system.
“We used to get streams of traffic here, but now they’ve sent it elsewhere.
“There’s not really competition between the neighbors because we all have our regulars.
“Many people have been coming to see me for years and years.”
The secondary hustle and bustle is so lucrative that some locals even employ people to sit on their records and take money from Wimbledon goers for them.
One man, who said he worked the gates of the house where he was stationed every year, said: ‘I charge £25 but some people charge a lot more. It’s very popular.
The official Wimbledon Championships car park costs tennis fans £35 a day, but spaces are ‘strictly limited’.
There’s also the option to “park and ride” for £15 a day, but it’s like a bus ride away from the action.
Parking prices elsewhere in the area, where the average house costs £622,579 compared to the UK average of £278,000, vary – and there is stiff competition for bays too.
No less than 500,000 people attend the tournament over the two weeks, with a daily ground capacity of 42,000 spectators.
This year’s championships started on June 27 and will end on July 10.
Elsewhere in the UK, families are also earning a fortune by renting parking spaces at the Glastonbury Festival.
Rich Rayner, 64, grabbed a field just 10 minutes’ walk from the world famous site in 1992 and is now earning £30,000 in a week.
What to pay attention to when renting your car
BEFORE you dive in and start renting parking spaces in your car, you need to do a few checks first:
1. If you don’t own your home, check to see if your landlord is okay with you renting the space.
2. Check whether renting your parking space will invalidate your home insurance – this may increase your insurance risk and therefore your premium, or you may need a separate liability policy.
3. Check how payments are made through rental sites. It’s best to withdraw money as soon as possible to protect your money should the worst happen and the business goes bankrupt.
4. Check if you have to declare your income. Property Allowance allows you to earn £1,000 a year by renting out your driveway, but you will need to notify the Inland Revenue of any profit over this amount.