LA Homeowners Cash in on World Cup Parking Demand, But the City Has Other Plans

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The FIFA World Cup has turned into a parking gold rush around SoFi Stadium in Inglewood, with huge international crowds driving up the demand for parking spots.

Homeowners in the area are capitalizing on the opportunity by renting out their driveways for around $50 to $80 per spot, making a tidy profit in the process.

"So, for me, personally, I have about three to four spots. Let's say I rent those three for $50, I could make easily $150," one Inglewood homeowner told NBC 4.

The city, however, is warning homeowners that renting out their driveways without proper permits and licenses is against the law.

Inglewood Mayor James Butts has issued warnings to residents about the practice, stating that renting out private parking spaces for events requires a commercial parking permit and a business license.

Official parking passes for the World Cup near SoFi Stadium range from $250 to $300 per match, depending on the game, highlighting the high demand for parking spots in the area.

The official parking system is managed through tournament channels, with FIFA overseeing parking allocation and capturing revenue from designated lots.