Driveway Parking Spot Rental

[Kim Feldkamp]

I live across the street from a new apartment building in Minneapolis, MN that didn't have to provide parking as part of the build.  We live close to the light rail so I guess the City thought people wouldn't have cars.  The amount of cars parked on the street has increased significantly - go figure.  Winter here can be pretty brutal and parking on the street gets tough.  I have an extra spot in my driveway and am considering offering it for rent to one of these apartment dwellers.    Has anyone done this?  What do I need to consider?  Thoughts on pricing?

[Tim Swierczek]

@Kim Feldkamp I would absolutely rent it.  It's supply and demand so I would start at $100/month which is F'ing crazy but your not looking for volume, you only need one person who values not walking 1-3 blocks in the Winter and can't afford to have their car towed.  The main consideration is they pay year-round, don't give them an out to take your best months, and stiff you in the Summer.  Also, have a policy that is reasonable to be able to move the car or have them move the car for snow removal.  Lastly, you need an attorney to write up a waiver of liability.  They should also prove insurance to you.