Homeowners across the UK are being encouraged to consider a simple £30 investment that could generate thousands in extra annual income, following the success story of one London resident.
The £30 Permit That Unlocked a Passive Income Stream
Satyan Dharamshi, a 51-year-old insurance account executive from Newham, East London, has earned a remarkable £4,300 in just two years from a side hustle that requires almost no daily effort. His secret? Renting out his private driveway to commuters, traders, and event-goers.
Living in a prime location near major venues like The O2 and ExCel London, Satyan identified a constant demand for parking. He purchased a reduced-price resident's parking permit for his own car for just £30 a year, allowing him to park on the street. This freed up his driveway, which he began renting out in December 2023 for £10 per day.
"It's Passive Income": How the Driveway Hustle Works
Satyan describes the venture as largely hands-off. "It's passive. I don't do anything, except take the occasional call from people checking they've parked in the right place," he explained. "I don't need to meet or interact with the people, they just come and go."
He highlights the consistent demand, noting his customer base includes working commuters, tradespeople, and those attending local events. "There's demand all year round... Some park in the day and some at night, depending why they're here," Satyan said.
The arrangement has proven safe and reliable. "Nothing bad has ever happened – they are all well-behaved people. I do get some regulars," he added, emphasising the mutual benefit: "It's good for them too – they get a convenient place to park close by."
A Lucrative Model for Homeowners Nationwide
This model has transformed a static asset into a significant revenue source. Satyan now earns up to £200 a month, comfortably covering the cost of his street permit and generating a substantial profit. For him, in an expensive city, "every little helps."
His story demonstrates how a minimal upfront cost and a strategic location can create a steady passive income stream. With many UK households seeking ways to bolster their finances, experts suggest that renting out unused driveway space is an accessible option worth exploring for those in areas with parking demand.
Satyan's success, turning a £30 annual permit into over £4,300 in earnings, serves as a compelling case study for homeowners looking to monetise their property with minimal ongoing effort.
