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📑 Table of contents
Why divide a car park space ?
Dividing a parking space consists of transforming a parking space initially dedicated to one car in order to accommodate several tenants in the same parking space. The idea is to create a shared parking space by offering owners of 2-wheelers (motorbikes, scooters, bicycles) the opportunity to share a space. The space is marked out on the ground by the landlord.
Let’s take the most common example, that of a parking space initially dedicated to one car and then divided into 4 spaces for 2-wheelers.
The advantages of dividing
There are several reasons why an owner might want to divide up a parking space to accommodate several tenants.
- Securing your income
If you rent your car park to 4 tenants instead of just one, you protect yourself against a vacancy in the event of non-payment by one of the tenants.
If, for example, you rent your car park for € 100 to one driver, you can rent it for € 200 to 4 motorbikes or scooters (space permitting).
It’s a good way of multiplying your sales.
- Increase value
People who like to divide up parking spaces prefer tight spaces for their cars. They can buy cheap car parks and then create additional spaces. They can then sell on at a handsome capital gain, generating excellent rental income.
The disadvantages of dividing
There are a few disadvantages to sharing a car park.
- If you want to divide a car park, you need to take the necessary administrative steps with the co-ownership association.
- Increase rental management. Inevitably, if you divide your parking space into 3 or 4 2-wheel spaces, you’ll have to manage just as many tenants.
The risks of dividing a car park into several spaces
It’s not unusual for owners to divide up a parking space without permission, and they’re right to do so. As long as the owner does not change the use (storage on a covered parking space) or erect a wall, he has the right to mark the ground to park as many two-wheelers as he wishes.
The only restriction is the number of beeps that can be sold. Even if there is no law preventing it, it is not uncommon in practice to find trustees who are reluctant to supply several beeps.
Returns obtained by dividing a car park
Some members of the club have agreed to share with you the figures for their operations to divide up a parking space in order to create a motorbike sharing scheme. It’s a good investment strategy to acquire a parking space that is poorly located or not easily accessible for a car, and divide it up to park two-wheelers.
|Number of locations||Acquisition price||Number of spaces created||Car park rent||Expenses||Gross return||Selling price||Capital gains||Member’s name|
|1 parking||22 000 €||4 parkings||200 € per month||18 € per month||11 %||Exchange with this member|
|2 parkings||59 000 €||12 parkings||660 € per month||53 € per month||12 %||100 000 €||41 000 €||Exchange with this member|
|2 parkings||52 000 €||10 parkings||700 € per month||30 € per month||16 %||Alexandre LACHARME|
|1 parking||20 000 €||4 parkings||200 € per month||12 € per month||12 %||Alexandre LACHARME|
|1 parking||800 €||2 parkings||50 € per month||7 € per month||Exchange with this member|
|3 parkings||18 000 €||12 parkings||240 € per month||12 € per month||16 %||Exchange with this member|
💡 Did you know : Dividing up a parking space multiplies the rental yield by 3 on average. On resale, the value of the car park is multiplied by 2 on average.
How much does it cost to divide a standard-sized car park ?
Do it yourself
Expect to pay between € 15 up to € 30. All you need is a can of spray paint from a DIY shop or a pot of paint and a good brush to draw your own markings on the floor. You can buy paper tape, also known as masking tape, to make neat lines. Another alternative, for the same budget, is to use fluorescent or non-fluorescent adhesive tape.
Working with a professional
Expect to pay around € 200 inc VAT if you want a perfect finish. A professional painter will produce higher quality road markings with paint that will not fade (or will fade less) over time.
Steps for dividing your site in a way that respects everyone involved
1. Can I divide my parking space?
Yes, of course. As long as you do not box up the space or erect a hard wall, you are perfectly entitled to divide your space as you wish. However, a parking space must remain a parking space and not be used for anything other than storage, for example.
2. I obtain permission from my neighbours, the co-owners’ association
You do not need to ask permission from your neighbours or the co-ownership association to divide a parking space into several two-wheeler spaces. To maintain good relations with the other co-owners, however, we recommend that you inform them of your intention to divide the car park.
How long does it take to divide a parking space ?
It takes about 1 hour to measure and make the new road markings.
Our conclusion on the division of parking spaces
Dividing car parking spaces into motorbike parking spaces is a clever way of increasing your return tenfold. However, you need to assess rental demand and the parking requirements for two-wheelers in your area.
How can I find this type of product ?
The best method is to hunt for cramped parking spaces with an odd configuration. In other words, spaces with major access constraints: posts, reduced width, small manoeuvring area, etc. In general, the selling price of these parking spaces is below market value. Focus on large conurbations and the city centre. When you visit the area, you’ll probably notice a large number of scooters or two-wheelers.
Needless to say, you should never reveal your intention to divide the site to the vendor. You must not tell the vendor that you are going to multiply the rental income !
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