Dec

17

To Park Or Not To Park

Filed Under Renting news by admin | Leave a Comment

City centre properties to rent with garages or parking spaces often offer that x-factor where those without fall behind. As one of our prized possessions, we’d all like to know that our car is safely tucked up in garage at night – however few and far between are lucky enough to experience that feeling.

With parking spaces and garages in Edinburgh and Glasgow now being sold at a premium, renting a parking space is becoming a very attractive alternative.  Conversely – if you own a parking space but have no need for it as city centre living provides all the transport you could need, it offers quite a handy monthly income.

Andrew Whitmey of Umega Lettings has 28 garages to rent as part of his portfolio. He says, “The demand for garages in Edinburgh is extremely strong.  Within the city centre, garages tend to be snapped up very quickly by city centre office occupiers and residents who struggle to find secure space close to their home or office.  Further out of town garages are very popular amongst tradesmen and, more recently, we have received increased enquiries from residents further afield as a reaction to the shifting parking permit boundaries. 

From a landlord’s point of view, garages can be purchased at a fraction of the cost of a residential property and can usually be sold more quickly than residential properties if funds are required.  Furthermore there is no boiler to maintain or carpets to be replaced, so if you can put up with some of the more ‘interesting’ tenants which garages attract, these can prove to be an excellent investment!”

Have you got anything to add to this? Please use the comment section below to offer any points of view on renting out a garage or parking space in the city centre.