Park Let helps people rent out their driveway or garage to earn extra income and motorists benefit because they pay substantially less than at more commercial car parks.

Park Let calculates the rental price of a parking space in much the same way as a residential estate agent agrees the rental price of a property with a landlord. There is usually a maximum value for a space in a particular area or postcode and other factors can influence the price too, such as proximity to facilities or congestion zones. Security is another important factor: spaces or bays with key-pad entry, electronic gates or even CCTV can demand a premium. Areas near busy town and city centres tend to be the most lucrative as do areas near busy railway stations, hospitals, schools and leisure attractions.

An online parking space price-guide tool has been launched by Park Let, the UK’s largest parking space letting agent. It is the first real-time, location-specific tool available in the UK. It is based on both current contracts and advertised spaces allowing both prospective landlords and tenants to calculate the true market value of how much parking spaces and garages are renting for today in their area. The tool is completely free to use and no site registration is required.

2009 UK league table

Liverpool £123 per month

Nottingham £115 per month

Manchester £109 per month

Brighton £108 per month

Bristol £100 per month

Leeds £98 per month

Oxford £98 per month

Birmingham £94 per month

Edinburgh £93 per month

Cambridge £71 per month

2009 London League Table

Sloane Ave, SW3 £538 per month

Mayfair, W1K £348 per month

Leicester Sq, WC2 £298 per month

High Holborn, WC1 £291 per month

Liverpool St, EC1 £223 per month

Cardinal Place, SW1 £222 per month

Old Street, EC1 £205 per month

Canon St, EC4 £205 per month

Pimlico, SW1V £202 per month

Fulham, SW6 £194 per month

Check out the website to find out how much you could make http://www.parklet.co.uk/parking-rental-price-guide.aspx