Car News

Rail operators are charging more than £1bn a year to park at station car parks.  However, according to Park Let, savvy motorists are abandoning these car parks and opting to leave their vehicles on residential driveways at a fraction of the cost by renting an individual's parking space via a parking space letting agent.  Additionally, the motorist will benefit from a guaranteed space every day and their car is less likely to be damaged.

Luke Kelly, managing director, Park Let commented: "We've known that train operators were hiking prices well above inflation but in some cases it's as much as 30% per year which is shocking and plain greedy in the current economic climate. Unfortunately for many commuters, they absolutely have to park near the railway station and therefore believe they must pay these astronomical costs."

Parking space letting agents offer a great alternative to astronomical railway station car parks:  motorists can search the company's database online to find a suitable alternative and then the company puts them in touch with the space owner or 'landlord' for a viewing. If the space meets the motorist's requirements then the company arranges a contract and sets up direct debits to collect the monthly rent.

Any property or landowner near commuter railway stations can also benefit from listing their space with a parking space letting agent.  To get an estimate of how much a space, garage or allocated parking bay is worth visit Park Let's free price guide tool.

Kelly continued: "I empathise with motorists who need to park at railway stations as I previously commuted from Chelmsford to London and encountered all of the same issues.  That's why I had the idea of setting up a business to help people pay a fair price for parking." 

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.

Park Let has arranged over 10,000 rental contracts and has in excess of 20,000 parking spaces available to rent immediately across the UK. The company provides a fully managed letting service including matchmaking the tenant and landlord, preparing contracts and monthly rental collection.  Park Let's rental prices are up to 20 per cent cheaper than other comparable season tickets and tenants can choose between a 5 and 7 day rental week.