Pricing Guide: How Much Can I Make From Spare Space In Dublin 1

Fill up your rainy day fund by renting out your empty parking space in Dublin 1

The best jobs in the world don’t require you to do much work and still get paid. Lucky for you this little gig pays big with minimal effort. All you need is an empty parking space. List your space on Parkpnp and sit back and relax. Soon you will be able to make money as drivers in desperate need for parking spaces, pay you to use yours.

Check out some of the places in Dublin 1 where you can earn the most money by renting out your parking space:

IFSC Area

IFSC or Ireland’s International Financial Services Centre is essentially the Wall Street of Ireland. And just like Wall Street, there is big money to be made here. It is easy to get carried away, thinking white collar professionals will pay almost anything to get a secure parking space for the fancy cars. But it is important not over sell it. Usually the going price for this area is €200- €250 per month, but sometimes people might be willing to pay more depending on the urgency. Any area around Amiens Street and Seville Place is prime real estate. Drivers in the area, are generally looking for easy access to the IFSC complex and a secured space.

Recommendation: If you are looking to get your space out quickly, price at €120 and you will see your space snatched right up.

Parnell Square

If you have a parking space in and around Parnell Square, you are a very lucky person. This is one of the most sought after pieces of real estate for automobiles in Ireland. This area is close enough to walk to all the major attractions as well as offices. The going price is usually around €150- €200. There are a number of commercial car parks in the area, so in order to be competitive price smartly. There is plenty of drivers in the area looking for long term bookings from trustworthy residents, which makes you the prime candidate to rent out your parking space fast. This area also serves as a great parking option for the masses as they head on down to the ILAC shopping centre to either work or shop. Prime streets in this area would be Granby Row, Dominick Street Lower and Parnell Street.

Recommendation: €100 per month should see your inbox flooding with takers.

O’Connell Street Area

It doesn’t even have to be on O’Connell Street, any space within a kilometre in either direction of the street is grand. This is one of the most popular destinations, not only in Ireland, but in the world. Keeping that in mind, think about the different rates you can offer drivers looking for parking spaces. You can do an hourly rate (for the tourists), a weekly rate (for everyone) and a monthly rate (for the professionals). There is a lot of money to be made here by allowing a wide range of drivers to book spaces in this area. There are some nearby commercial parking spots, so keep in mind to keep your pricing competitive and the ad descriptive.

Recommendation: Spaces usually go for €120.

Abbey Street

This is one of the busiest parts of Dublin. Close to the river and close to the major offices in the area, Abbey Street gets a huge amount of traffic on a daily basis. It is not easy to find parking in this area because of the busy and crowded nature so any space listed here will be snatched up fast.

Recommendation: Closer to IFSC, you are looking at around €120 per month.

Mountjoy Square

Right opposite to the park, this street attracts drivers by the hundreds daily. It might not be close to the major business like Abbey Street and Parnell Street, but it is defnitely not far enough either. Drivers can comfortably park here and walk to their final destinations. The good news is that your parking space will not be competing with any major commercial car parks in the area. Any parking in this area will have major access to Gardiner Street and O’Connell Street and all the major attractions and business in those areas.

Recommendation: As parking is hard to find in the area, you can price more aggressively. The recommended price would be around €100 per month.

Dorset Street

This might be a bit far away from the city centre and the major business districts, but don’t forget that there is a huge hospital right across the street. The Mater Misericordiae University Hospital’s staff is always on the look out for parking in the area. There is a shortage of parking here and sometimes, doctors, nurses and patients have to park some ways away. Dorset Street is closely connected to the N1 highway and has easy access to North Circular Road.

Recommendation: €80 would be a competitive price for this area. You might get away with charging a bit more than that due to the lack of alternatives in the area.

It is worth noting that spaces in these areas experience massive variances. Sometimes parking spaces in the same building can be charged at different rates, depending on the facilities that are available like CCTV cameras, gates etc. If you have any specific questions please reach out at [email protected] or call us at 01 547 4296.

Remember to start making money from your parking space at Parkpnp.com.