House owners in Brixton are have made £120,000 in a year, just by renting out their drives for parking, a company has claimed.
JustPark, which organises the renting, said the owners charge an average of £9 a day but that this can rise to £25 a day near the centre of town. The number of drives it offers for rent in Brixton has increased by 50 per cent to 105 in the last year. The number of bookings increased by 30 per cent.
And while Brixton and many of its residents are suffering from funding cuts of all sorts and face increased National Insurance payments, JustPark said that from April next year homeowners will pay no tax on money they make renting out their drive up to a limit of £1,000 per year – “thanks to the new ‘sharing economy’ tax breaks for property-related income” announced in the most recent budget.