Renting out underground parking space

Penelopa.Pitstop

£40 is cheap as chips in London. I would expect to pay £100 per month in London. So anyone saying £40 is too much, must not be aware how much parking spaces cost.

If you go to Just Park, you will have trouble finding space which costs £3.5 per day and that's around £100 per month.

Susan1942

Thank you all for your lovely responses. You have all let me feel better about the situation. I am 77 and I have lived here for 21 years. I am not sure exactly what people are paying now but a friend way back was paying £50 when I was charging £35. I have always let my space for less than others. She would not be allowed to use either the visitors parking spaces. Very quickly she would be pulled up for it. The underground spaces are mainly for people who are here for a few days etc. The manager uses one of those spaces rather than take up a visitors space.
I live in a conservation part of town and right on the famous Stray. There are only a very spaces outside maybe for about 5 or 6 six cars on one side of the road. The other side no pavement and no parking as this is the actual grass of the Stray. People have had their cars damaged. The couple who were so keen to have my space was because they had their car damaged twice. They had only moved in a few months before me. She needs to obtain a permit to park outside. I am not going to give it another thought.
I was talking to a neighbour when I was at the laundry. There is a coffee morning here on a Sunday at 10 30. I am at Church in any case I probably not go along. This lady told me that this new neighbour had turned up at the coffee morning to introduce herself this was a number of weeks ago. There were quite a few raised eyebrows and her manner didn't go down too well. I think I will just steer clear of her and her Daughter. Parking spaces are like gold dust here. THank you all for your support and advice. I do appreciate it very much. Sue

markin

You should probably be charging at least £60, unless they are a good friend and you want to give them £10 discount.

easy

Susan, stop worrying !
sit tight, wait until the new resident moves in, and gets fed-up with walking back from parking her car streets away, driving round to find a space, replacing knocked off door mirrors etc.
The lady herself might feel £40 is fine, her daughter is just trying to protect her inheritence

I bet in a few weeks the new lady will be chatting to you about renting that space.
In the meantime sit back and relax, please don't get yourself in a tizzy about it

Susan1942

Thanks so much. I don't want to rip anyone off but equally I should not feel under pressure to rent my space for next to nothing. I just hope I hear nothing further from them. Sue

Norman_Castle

If they resent the price they may try to avoid paying you. Put a notice up, possibly at a higher price if you can compare with what others are charging, and hopefully you will quickly get someone who understands the value of the space.
Secure parking should reduce car insurance costs so can be used to offset the cost. If on street parking requires payment your £40 may be a bargain.

Don't feel guilty, the mother and daughter should have considered parking before buying the property.

Susan1942

Thank you both. You are right I am not going to give any further thought to it
I don't need the money and the space can sit empty. I am just not prepared to let this Daughter put me under pressure. My space is a very large one. When my space became available the man who lived in this flat if he could rent it.was renting was a very tight one. He died aged 100 and I did an afternoon tea for him and invited the other residents who lived in my particular part of the development. Apt 1-6 and I live on the top floor. I am being constantly told that I am a very generous person.
but this Daughter made me feel bad about myself..
Not going to give it any space my head. The space is empty as of last Friday but the lady who was using has paid the rent for this month. I had told her that the new woman shr said it is a wonderful space. She had been renting a different space but the apartment was sold and they had a car. The lady.rang me as the manager said my space was available..She said to me she would recommend the space if need be.
I will say now that I live in what they call a Penthouse I call it an attic. It has a private lift. So I don't need her money. I will put it on the back burner.
Thank you all so much for the responses. You have restored my confidence. and I appreciate it. Sue

Norman_Castle

If you don't want or need the income rent it to to a worthy, appreciative person and donate the income to charity.

Susan1942

Thank you. I actually give the money to.my Student Grandson. Sue

LawAbiding

Susan, it sounds like over the years you have under valued your parking space and rented it out out of the kindness of your heart, don't let that change!

This woman needs to get a grip, if someone offered my secured parking for £40/50 per month, I would snatch it up straight away!

As others have said, if the income is not your main priority, just hold out for someone who is kind and appreciative, those are the people who deserve your time.