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selling parking spaces

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  • 18-11-2005 2:17pm
    #1
    scoby
    Closed Accounts Posts: 73 ✭✭


    I'm currently looking for an apartment and was wondering if it's possible to rent out a car space? ( neither myself nor my girlfriend has a car )
    If it's behind a gate in a complex many don't seem to allow it for, i presume, security reasons.
    Is it possible to rent residents on street parking or is it particular to a car or a person?

    Any help appreciated
    gotta save money somehow :D


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    #2
    MorningStar
    Closed Accounts Posts: 3,031 ✭✭✭MorningStar


    If you own the appartment and there are no clauses about doing it it should be no problem. So check the managment rules. Many people would not like to see the spaces rented seperately.

    If you are renting there is very little chance your lanlord will allow you to sublet.


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    #3
    ifah
    Registered Users Posts: 576 ✭✭✭ifah


    i work in Dublin City Centre and was delighted to be able to rent a car space for €125 per month on Abbey St from a girl here in work. She was renting the apartment but didn't have a car - we came to a private agreement and she saw no reason to tell her landlord. I had exclusive access to the space and was v happy for it.

    i'd say go for it - rent it out and no one will prob know.

    I've since gone onto a motorbike and when i gave up the space she said someone in her apartment block snapped it up @ €150 per month - a couple that had 2 cars but only one space with their apartment.


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    #4
    MorningStar
    Closed Accounts Posts: 3,031 ✭✭✭MorningStar


    JUst a small not I realised I made a mistake on. Don't sell the space ever! Rent it if you don't need it and can. The amount of money you would make now selling it would not be worth it in the long run.


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    #5
    Victor
    Registered Users Posts: 78,392 ✭✭✭✭Victor


    scoby wrote:
    I'm currently looking for an apartment and was wondering if it's possible to rent out a car space?
    It is legally possible, but much more practical to let out than sell.

    You would of course be subject to Capital Gains Tax if you seel and Income Tax if you let out. Note, if you don't declare it, you are screwed if the Revenue realise you were claiming Mortgage Interest Relief in excess of what you were entitled to.
    If it's behind a gate in a complex many don't seem to allow it for, i presume, security reasons.
    This will be down to the particular rules of the development.
    Is it possible to rent residents on street parking or is it particular to a car or a person?
    Council parking permits generally aren't available to those with access to parking elsewhere.


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