5 Smart Ways to Earn Income From Your Empty Garage

Ready to list your space? Follow our step by step guide to listing a parking space on Parksy. It takes about 5 minutes and it is free.

An empty garage can earn money in five main ways: monthly car parking, vehicle storage, household storage, event or daily parking, and a full conversion into a workspace or living space. The first four need little more than a clean floor and a working door. The fifth needs permits and a builder. This guide covers what each option involves, what a garage rents for in real neighbourhoods, and what to check before you hand over a key.

What an Empty Garage Rents For

A garage is the most valuable kind of private parking because it is covered and lockable. In Parksy's pricing model, which was calibrated in September 2026 against about 42,800 priced Parksy listings, covered spaces are priced about 7 percent above the median for their suburb and uncovered spaces about 7 percent below. Spaces with a gate or key access sit about 8 percent above, against 3 percent below for open access.

Here is what the free car space value calculator suggested in September 2026 for an indoor space with a key or remote:

• Lincoln Park, Chicago (60614): about US$200 to US$300 a month, suggested US$250.
• Back Bay, Boston (02116): about US$235 to US$355 a month, suggested US$295.
• Austin (78704): about US$140 to US$210 a month, suggested US$175. The median of 35 Parksy listings in Austin was US$100, so a lockable garage there can ask well above an open lot.
• Surry Hills, Sydney (2010): about A$225 to A$335 a month, suggested A$280.
• Toronto: about C$170 to C$255 a month, suggested C$215.

The calculator starts from local home rents (Zillow ZIP rents in the US, ABS Census rents by postcode in Australia, CMHC rents in Canada) and adjusts for the type of space and access. Treat any figure as a starting point, then compare it with similar listings near you before you set your price.

A clean, empty garage with a working door is ready to rent for parking with almost no setup. Photo: Pexels

1. Rent It for Monthly Car Parking

This is the simplest option because the garage already does the job it was built for. The usual renters are neighbours without off-street parking, commuters who drive to a nearby station, people who work in a hospital or university close by, and anyone who owns a second car they cannot keep on the street.

Before you post, measure three things: the width of the door opening, the internal length and the height clearance. Many older garages do not fit a large SUV or a van, and saying so up front saves wasted viewings. On Parksy you can tick the features drivers filter by, such as Covered, Gated, Key / Remote / App, CCTV, Lighted and Electric Charging, so tick every one that applies.

2. Rent It for Vehicle Storage

A car that is driven every day needs access at all hours. A car that is stored does not. Classic and project cars, motorcycles over winter, jet skis, small boats on trailers and camper trailers all need a dry, secure place, and their owners usually want a long term with very little coming and going. Parksy listings let you choose which vehicles a space fits, including Motorcycle, Boat, Jet Ski, Trailer, Camper Trailer, Caravan and RV / Motorhome, so storage renters can find you by vehicle type.

Agree in writing who holds the keys, how much notice the renter gives before collecting the vehicle, and whether it must be registered and insured while it sits in your garage.

3. Rent It for Household Storage

Some renters only need room for furniture, bikes or boxes during a move or renovation. Parksy has a Storage option in the vehicle and use list for exactly this. Keep it simple: a lockable door, a dry floor and a clear rule about what cannot be stored. Most home insurance policies exclude or limit other people's goods, and fuel, gas bottles and chemicals are a fire risk, so write these limits into your agreement and ask your insurer what is covered.

4. Rent It for Event or Daily Parking

If you live near a stadium, a concert venue, a beach or a hospital, you can rent the garage by the day or the hour instead of by the month. The Parksy listing form has separate hourly, daily, weekly and monthly price fields, so you can offer a monthly rate and a game-day rate on the same listing. Daily renting means more handovers, so it suits a garage with a keypad or remote you can share and change. Some cities restrict commercial parking in residential zones, so check your local rules if you plan to rent to many different drivers.

Near a venue, a garage can earn a daily or hourly rate on event days and a monthly rate the rest of the year. Photo: Pexels

5. Convert It Into a Workspace or Living Space

A workshop, studio or small office in a converted garage can rent for more than parking, but it is a building project rather than a listing. Insulation, electrical work, ventilation and, for living space, plumbing and fire safety all need permits from your city or council. Many areas also have rules on home businesses and secondary dwellings. Get a quote and check the approvals before you count on this income. If the garage is your only off-street parking, remember that converting it may also push your own car onto the street.

Converting a garage into a workspace needs permits and building work, so treat it as a project, not a quick listing. Photo: Pexels

Check These Before You Rent Out Your Garage

• Your right to rent it. If you rent your home, check your lease. If you own in a building or a community with an HOA or strata scheme, check its rules on leasing garages to outsiders. Our guide on subleasing a parking spot covers the common cases.
• Insurance. Tell your home insurer you are renting the garage and ask whether the renter's vehicle or goods are covered. Ask the renter to keep their own vehicle insurance.
• Tax. Garage rent is usually taxable income. US space owners can read the IRS guidance on rental income. In Australia, the ATO treats income from sharing a car parking space as income you must declare.
• A written agreement. Cover the price, payment date, notice period, access hours, who holds keys and what can be stored.

How to Post Your Garage on Parksy

Posting a garage is free, there is no commission and you keep what your renter pays you. Parksy does not take payments for private rentals: you agree the terms and the payment method directly with your renter. The 6-step posting guide walks through the form: address, space details, price, one daylight photo, title and description, and contact options. Choose Garage (Home) as the space type, and mention the door size and height clearance in the description.

Once the listing is live, your free Parking Provider Kit gives you a printable tear-off poster with your own contact details, a rental agreement filled in from your listing, and clear steps if something goes wrong with a renter. Show the garage in person before any money changes hands, and take dated photos at the start and end of each rental.