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I own some rental property within walking distance of a major university. Every year I have tenants who rent out their driveway (they don't have cars) to university personnel and it seems to work out fine for all.
Yes. When I was living in Chicago there were plenty of condo owners who would rent they parking spots, they would make $150-$200 a month. I don't see a driveway that much different if you dont have cars.
If I didn't need it sure, and if I didn't have a car or had an extra garage space, I would rent that out too. Why not. I would certainly require proof of insurance with limits sufficient to pay for anything should they damage my home. I would insist on being listed as loss/payee on the policy as well but after that, great idea.
My sister did this. She lives near a military college where only seniors are allowed cars on campus so underclassmen often rent parking spaces to keep their cars for holidays etc. Most of my sister's neighborhood also did it. If I remember the insurance question was on the driver, not on the homeowner but I would of course double check.
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