What effect do driveways/parking spots have?

[Jack Rozema]

I’m interested in a property that only has a small driveway, on a one way street where there isn’t room to park. It’s been on the market for a few weeks, so the price isn’t what really concerns me because there’ll be room for negotiation.

It seems like two small cars could fit on the driveway but other than that there’s no real parking close by. In your experience will this affect rental prices and/or general interest? If so, how much? I’m not concerned about re-selling it because I want to hold it for a while.

Thanks for any input!

[Dave Spooner]

@Jack Rozema how many units / beds are in this property? It's largely dependent on the area, but from my experience, parking doesn't impact rental price a whole lot. It can have a huge impact on interest, though.