456. Car Space Side Hustles: Smart or Risky?
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I’m covering the legal and practical realities of turning your unused car space into a side hustle. With some owners apparently pocketing up to $850 a month, it’s tempting, but are you risking by-law breaches, insurance issues, or tribunal action? I share some landmark court cases, plus the essential inclusions in any lease agreement.
Be very careful that you comply with the Parking Space Levy legislation.
The charge per space is around $3k PA.
Revenue NSW will not take kindly to any owners who do not comply.
Hi Amanda
Yet another excellent Podcast.
But just one thing, you did not mention whether an owner or occupier sub-leasing his/her car space has to formally advise the Strata Manager and ensure the details are on the Strata Roll.
In my view, they must because they are required to have details of all leases on the Strata Roll
Our building is a Security Carpark. You need a remote unit to get in.
As such, the Strata Committee and Strata Manager should know who has a remote control unit and who is parking in our property.
Additionally, as to your point about tenants requiring their landlord’s permission to sub-lease their car space, the Strata Manager and/or Strata Committee should require a formal copy of the approval.
This could possibly also involve insurance and a signed agreement that the sub-tenant has been given a copy of the Rules and By-Laws and agrees to be bound by them. You only have to look at all the problems being caused by e-Scooters and e-Bikes in buildings these days to realise the need for sub-tenants to agree that they cannot store these e-Rideables in the carpark, or indeed ride them there.
What are your views?
Regards
Harold Scruby
Hi Harold,
I am sending this message on behalf of Amanda Farmer.
Due to the overwhelming demand for Amanda’s services, she is no longer able to personally respond to every comment posted on the public side of the website.
The best way to seek Amanda’s guidance is inside the members-only QandA Forum, enjoyed by paying members of our online community. Membership is just $97/month with no lock-in. Your instant access is here: http://www.stratamembership.com.
Regards,
Rach – YSP Team
Would you also need to provide details of a lease to the Owners Corporation, according to Section 258 Strata Schemes Management Act, 2015?
Hi Chris,
I am sending this message on behalf of Amanda Farmer.
Due to the overwhelming demand for Amanda’s services, she is no longer able to personally respond to every comment posted on the public side of the website.
The best way to seek Amanda’s guidance is inside the members-only QandA Forum, enjoyed by paying members of our online community. Membership is just $97/month with no lock-in. Your instant access is here: http://www.stratamembership.com.
Regards,
Rach – YSP Team