Information Sheet

Insurance

Car Insurance:

According to a number of different car insurers, parking your car in someone else's driveway does not affect your car insurance as long as the period of time the car is at the alternative location does not exceed 6 months in the same year. (i.e. the main location of the car is still at it's registered address.) Please note that you leave their car at their own risk, just like you do at a standard commercial car park or on the main road. We suggest you contact your car insurance company the first time you use a space just to be sure that your policy covers your car.

Home Insurance :

Home insurance is more complicated with regards to letting out your parking space. Depending on the company you have your insurance with and also what kind of policy you have the cover provided will differ. We recommend that you contact your home insurance provider to confirm that your policy covers you for letting out your parking space.

Park at my House.com strongly suggests that you contact your insurance company to check that you are happy with any implications renting out your parking space may have.

Mortgages

After speaking to a number of mortgage providers we have been advised that letting out your parking space does not effect your mortgage. Just as you can rent out a room in a house with an unredeemed mortgage, so you can rent out a driveway.

As with all finance related issues, we do recommend you contact your mortgage provider in advance of letting out your space should you have any questions regarding this matter.

Legal

If you are letting out your parking space you must be legally permitted to let out the parking space for financial gain. It is the responsibility of the person letting out the space to investigate the legality of licensing his/her car parking space.

If you are parking your vehicle in a space advertised on this web site, just likeparking  in commercial car parks or parking your car on the road, you do so at your own risk.

Tax

In the event of you collecting any lettings income from your driveway, any other part of your residence or any other area that you may own or let to a third party, that income must be declared to the Inland Revenue on your tax return.

ParkatmyHouse.com bear no responsibility in relation to the treatment of any income received in respect of car parking spaces.