A new kind of property to rent in Kensington and Chelsea

property to rent in Kensington and Chelsea is often some of the most sought-after, but now a new type of letting has been judged to be popular in the area.

According to Park Let, a special Lettings Agent in London, homeowners in the royal borough are able to make more money than people living in other parts of the capital - by renting out their driveways and garages.

Mayfair and Leicester Square were also said to be lucrative areas for this business, as were High Holborn and Liverpool Street.

Letting out driveways and garages has become something of a phenomenon in recent months, with the BBC recently reporting on its potential as a money-making process during times of recession.

Luke Kelly, managing director of Park Let, said: "Although the top ten rental areas in the league table are perhaps better known for being commercial centres than residential areas, property owners in all locations could earn extra income by renting out their driveway or garage."

It was suggested that renting out driveways in Sloane Avenue, Kensington and Chelsea, could make people £538 per calendar month.

Written by Chris Price

Published 28th May, 2009

© 2009 Estates IT Limited

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