Does anyone know about renting out parking spots or storage?

[tre]

Hello!

I've seen loads of empty lot properties in my area (Sapporo) that are devoted to just renting out as parking. I assume that the owner of that land has no current need for it and just wants the passive income.

Does anyone know about the legality of renting out parking spots or storage space if it were on my own house's property? It seems like if it was just between me and the neighbors, no bad could come of it, but I figured I would tap into GaijinPot's extra wisdom to see if any of you know about any pitfalls to this plan.

Thanks in advance!

[TJrandom]

Hello!

I've seen loads of empty lot properties in my area (Sapporo) that are devoted to just renting out as parking. I assume that the owner of that land has no current need for it and just wants the passive income.

Does anyone know about the legality of renting out parking spots or storage space if it were on my own house's property? It seems like if it was just between me and the neighbors, no bad could come of it, but I figured I would tap into GaijinPot's extra wisdom to see if any of you know about any pitfalls to this plan.

Thanks in advance!

I rent two spots - no contract, deposit into the owner's bank account for the months used - no paperwork on my end. I do not know if he reports it as income, but assume that he should do so.

[tre]

TJRandom,

Thanks for your reply to this thread too! As I mentioned in the other thread, I'm trying to figure out if having some these covered garage parking spots on my property would catch some good passive income. Many people use the generic "open field" type parking spots around here, and I'm wondering if there's demand for some kind of simple covered garage for the brutal winters. Something like this:


So I just want to make sure it's legal and stuff!

[TJrandom]

...So I just want to make sure it's legal and stuff!

I know that was just a picture - but it doesn't look like it would withstand the Sapporo winter snow. I am sure that there are versions that would, but suspect that their cost would be greater than the rent would pay for. I'd go to a realtor - as they will be assisting renters find parking spaces too, and ask them what the market is like - and weather (lol) it would pay.

[tre]

Yeah, that was just a quick snap. Actually, loads of people around here have similar car-covers. That particular picture does look more suited for warmer places, but the ones around here aren't that different, just supported by thicker metal beams, and they probably use some kind of super durable plastic for the "windows".

But yeah, I guess the best bet would be to talk with a realtor or someone who knows about it. Thanks!

[hml]

Ask a realtor what parking costs in your area.

Find out how much you want to spend on your parking space.

Now you can calculate the rate of return - provided you get a customer.

[tre]

hml,

yeah, it seems that they go for about 1万円 per month, in uncovered lots. There's one a block or two away with about 3-5 cars there at any given time. I'm thinking about initially setting up a couple of covered spots on the corner of my lot and trying to rent them out for the same price, and see how demand goes. If there is a lot, I can just make a couple more spaces. If I can rent them out, they should pay for themselves within a couple of years.

[ericson]

Go for it I reckon, you will be able to charge more than the normal open spots because those roofs are normally able to block UV rays that you can use to advertise. I am sure the Japs will go nutters about uv protection for their cars.