Touted benefits of carsharing are many. Both organisations and individuals have shown interest in car sharing schemes. Although the motivating factors are many, there are two shared interests namely saving money and reducing carbon footprint.
Reduced car ownership means local transport facilities are not stretched and the environment is cleaner, something that gives the City Hall bosses a big smile. Apart from the financial benefits the individual gets, as owning a car is more expensive than we think, the schemes increase mobility for those who do not own a vehicle.
There is nothing more refreshing than having access to a clean and well-maintained car at your convenience every morning. All you have to pay is a small fee every month, a fee that caters for nagging issues such as car insurance, MOT, parking and servicing. The bottom line is, you don't need a car to sign up to be a car-sharer. Many members are willing to do the driving in return for a contribution to their fuel costs and having somebody to talk to and from work.
For those who cannot live without a car then you have other ways of reducing your journeys. Parking remains a problem for those who work inside the busy business district. One sure way of using your car effectively is to drive to within the vicinity of the city then take the public transport into the city. If many motorists did this, then the traffic in the city streets will reduce and the fast flowing traffic will effectively reduce emissions and fuel consumption.
With parking costs topping more than $1,170 a month in cities such as London, the time to think about parking is nigh. It is this situation that has led a few entrepreneurial-minded people to come up with many innovative ways of tapping into this niche. People are renting their driveways to organisations and individuals at a small fee. These fees range from 50- 300 pounds sterling a month depending on location.
How does it work? Those offering parking earn money from their previously redundant or under-used driveway/garage. That searching for parking benefit through obtaining affordable parking, which may not have been available previously, and everyone is happy. However, this is not a straightforward case of laughing all the way to the bank without doing much background work. It is easy for the person renting the car park than is for the owner of the car park.
The owner of a car park must consider factors such as proximity to where people work, proximity to train/tube stations, the existence of residents parking restrictions, along with other factors such as existing parking provisions. Then there a re safety issues to worry about. Essentially by renting out this space, you are opening your home to a stranger. You must take all precautions necessary and if possible, let the person sign a contract. You can draw the contract, they are are many free templates online, or let the person sign for the parking from the reputable agencies that operate in these schemes.
Lastly, being an income generating activity, think about your income responsibilities. You need to fill out a self-assessment form if you are not self-employed. You will pay tax at your normal marginal rate-you will only pay tax if you exceed your normal tax credit threshold. If you have a family member who earns less, let the person sign for it as this might reduce tax or mean no tax at all. If all this is so confusing then, sign up with one of the online car park operators. They will take a commission on all the money you earn through them and they will help you with all the paper work. You pay them nothing. And the motorists pay them nothing too.
Lifshare has listed some reasons why people sign for these schemes:
Meeting travel plan targets
Meeting CO2 reduction targets
Saving money in car park management
Corporate Social Responsibility
Business continuity planning
Increasing employment catchment areas
Helping to alleviate social exclusion
Here's WHY individuals should get involved
Car sharing can be used for any type of journey at any time, making it the cheapest and most flexible form of transport around
It saves you money on petrol costs
It helps you do your bit for the environment
It increases employment opportunities
It makes boring journeys more sociable
It reduces stress by allowing you to be chauffer-driven!!
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