Church in London Earns Cash by Renting Parking Spots

You know how I’m always on the lookout for ways a nonprofit can boost the positive side of its balance sheet by turning existing assets into cash?

That’s why I was intrigued to read this article by well-known real estate writer Broderick Perkins, describing how the website ParkatMyHouse.com — already well-established in England — is coming to America.

The tag line on the website’s home page pretty much says it all:  “Have an empty spot in your driveway? You could be making money by renting it out.”

Perkins further explains that founder Anthony Eskinazi,  inspired by his own difficulty finding (or affording) a parking space when he visited AT&T Park in San Francisco to see a Giants game, went back to England and set up what the website calls a “match-making service for property owners and drivers.” The site continues to manage the relationship, having already helped over 40,000 property owners in England gain extra income from renting their unused parking space by the day, hour, or month.

The church I mentioned in the title is near the busy Kings Cross Station in London and has, according to Perkins’ article, earned some $180,000 from the website in the last three years, comprising more than half its annual income. (These are tough times for tithing.)

Of course, not every nonprofit owns its own property, or has space to let.  (And if you rent, or are part of a homeowners’ association, better check with them before you sign up.)  But hey, pass the word on to your most-likely-underpaid staffers. Maybe their driveway could put a few extra dollars into their pockets while they’re spending long hours at work!