Demand for renting private parking spaces soars as nation avoids public transport

Demand for renting private parking spaces soars as nation avoids public transport
There has been a recent surge in demand for private parking rentals in and around city centres as the nation starts slowly returning to work.

ParkLet, the UK’s largest parking space letting agent, experienced a 47% rise above normal April levels after suffering an 82% slump at the beginning of lockdown.

The parking option has gained popularity as commuters shun public transport and look for an alternative to traditionally overcrowded and expensive city-centre car parks.

The firm’s managing director Luke Kelly said: “Working from home is simply not possible for everyone and therefore those who do need to go out to work are trying their best to do so in the safest way possible.”

Services across bus and train networks are running on a reduced capacity, raising public concern for potential overcrowding. For many, driving to work is the safest and most convenient travel option.

Even before lockdown, RAC research shows that the nation was already highly car-dependent because of poor public transport services.

Save £50 on breakdown cover

Switch to RAC Breakdown cover and you can save £50 on your AA renewal.*

ParkLet has also seen a surge in demand from employers renting parking spaces on behalf of multiple employees as they look to save costs on taxi fares.

Offices across the country have adopted rota systems to maintain social distancing and have continued to rotate parking spaces among their staff.

Mr Kelly added: “Many employees will want to get back into work as soon as they can but may choose to travel there in the comfort and security of their own vehicle.

"As our town and city centres have become increasingly developed and congested, finding convenient and affordable parking spaces near offices and other places of work has long been an issue for employees and employers alike.

“However, many land and parking space owners can monetise their idle bays giving them a small additional income, whilst also providing a solution for commuters."

ParkLet advertises over 20,000 parking spaces on its website with the most lucrative locations include London, Bristol, Manchester and Birmingham.

The government has pledged billions of pounds in recent weeks for projects to encourage active travel as an alternative to public transport.

Transport Secretary Grant Shapps pledged £2bn to build pop-up bike lanes and widen footpaths to encourage commuters to walk and cycle.

Have you rented a private parking space before? Do you have plans to use one in the near future? Let us know in the comments.

Get 30 driving tips that will save you money

Running a car isn’t cheap, but there are some easy things you can do to keep your costs down. Get these tips and more useful driving articles sent straight to your inbox now.

Get 30 driving tips that will save you money
Get 30 driving tips that will save you money

*For new customers switching to closest equivalent RAC cover level. On selected cover, see full terms for details. Ends 25/05/22, 7am.