Easy side hustle: Gold Coast lockup garages raking in thousands

This garage at 3049 Surfers Paradise Boulevard, Surfers Paradise, is available for rent at $95 a week.

The humble lockup garage could be the easiest side hustle ever for Gold Coasters, raking in as much as half the rent of a one-bedroom investment property amounting to thousands a year.
There are no bathrooms or bedrooms involved, and often there’s not even any water, but garages in areas that have seen tightening rental vacancy rates like beachside suburbs on the Gold Coast were often snapped up by apartment dwellers and those looking to stash hobby items and vehicles, or even home businesses looking to store stock.

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At the moment garages in Surfers Paradise seem to dominate listings.

According to rental storage service provider Spacer, leasing out a spare garage or car park could bring in thousands off space that’s under-utilised or unused.
“There are plenty of locals looking for cheap and secure storage and parking in central Gold Coast. You could earn over $4,440 a year from renting out your space each month,” according to information it provides to potential garage landlords.
“It is a great way to make money in Gold Coast for nothing and help out your local Gold Coast community by optimising limited space.”

Extra shelving allows lockup garages to be used for storage by small businesses and home businesses looking for stock space.

Professionals Newlands Real Estate, which currently has a lockup garage that’s ready to also be used as storage at 3049 Surfers Paradise Boulevard in Surfers Paradise, described the listing as “a rare opportunity” in such a popular location.
The garage, which has an upstairs mezzanine storage option, can’t be lived in, the real estate agency said, and it has no power outlets with just a single light, and the electricity cost is included in the rent.

3049 Surfers Paradise Boulevard, Surfers Paradise, has a mezzanine storage level.

With the rent set at $95 a week, and bond at $380 a month, the padlocked single lockup garage would fetch its owner $4,940 a year off an asset that’s currently not being used.
Spacer currently has just five cheap parking spaces available for booking in central Gold Coast with the average monthly price for parking set at $370.
“You can select to rent undercover, outdoor, garage or warehouse storage and parking spaces for your car, furniture or office documents,” it said.

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var result = minutes + “:” + (seconds < 10 ? "0" + seconds : seconds); return result; } })(window.videojs); The highest prices were for garages in Surfers Paradise, with one at Darrambal Street listed for rent at $438 a month, the same price that two undercover parking spots in Leonard Avenue was separately available for. The lowest price was for outside parking, with a reserve space at Sunrise Boulevard in Surfers Paradise available for $188 a month, or over $2,200 a year. The common feature of the listings was that there was 24/7 access to the garage or parking spot for the renter. Netstrata, which manages strata schemes, urges those currently living in apartments who may be considering making extra cash off their garage space to crosscheck their strata scheme bylaws before doing so. “Unless your strata scheme has a specific by-law restricting the ability to rent a parking space or garage to a third-party then there’s nothing to prevent you from doing so. This space is considered part of your lot allocation,” it said. FOLLOW SOPHIE FOSTER ON FACEBOOK The post Easy side hustle: Gold Coast lockup garages raking in thousands appeared first on realestate.com.au.

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