There comes a point in the life of almost every private hire operator when the question changes. It is no longer ‘How much am I earning?’, but ‘Does it make sense for me to keep running the business?’. Retirement, starting another business, or simply growing tired of the day-to-day work with drivers. The classic answer used to be to sell. The answer gaining ground in 2026 is a different one: leasing out the licence and keeping the asset.
The model, in a nutshell
Leasing a licence works much like renting business premises, with one key difference: the ‘premises’ generate income from day one because the lessee — usually a fleet operator — already has drivers, vehicles and platform demand in place. You transfer the right to operate the licence under contract; the operator pays a fixed monthly rent and takes on the entire operation.
On the VTC360 marketplace, published licence rental rates currently range from €1,500 to €2,200 per month depending on the province — Seville at the lower end, Valencia around €1,900, and Barcelona at the higher end. In terms of the asset’s value, this represents gross rental income of around 2–3 per cent per month in markets with fleet demand. Before expenses and taxes, and taking into account the risks outlined below, the figure is attractive precisely because the model is well thought out.
What separates a good lease from a problem
- The operator matters more than the rent. A tenant who pays €100 more but operates poorly may return the licence with penalties, a wrecked vehicle or a licence at risk. On the network of verified operators, we publish details of each operator’s fleet, years in business and performance metrics; that due diligence accounts for half the value of the lease.
- The contract must cover termination. Duration, notice period, security deposit (two months’ rent is the market standard), who is liable for fines and for maintaining the licence, and what happens if the operator stops paying. At VTC360, the legal team reviews the contract before the rental listing is published.
- Up-to-date rent payments must be documented. Direct debit and payment records. That payment history is worth money: when the time comes to sell, a licence with a tenant paying on time is an investment product, not just another advert.
The side effect that almost nobody takes into account
A leased licence sells better. On the marketplace, we label them ‘with tenant’: the buyer takes over the lease and starts collecting rent from the very first month, without having to find an operator or set anything up. It’s the difference between selling an empty premises and selling one with a solvent tenant in place. For the investor buying it, the verified current rent acts as the income history of an operated licence: proof that the rent is paid.
And if you want to take it a step further, the guaranteed rent — a verified operator contractually guaranteeing a minimum rent for 24 months, as set out in the certificate — makes the lease the product most similar to a fixed-income investment available in this market. With the honest caveat that it is not a fixed-income investment: it is a regulated asset backed by a well-drafted contract.
Who it’s for (and who it’s not for)
It’s for licence holders who want to stop driving without losing capital, and for investors who purchase a licence as an income-generating asset. It’s not for those who need liquidity straight away — that’s what selling is for — nor for those expecting a return without ever looking at the contract.
If you have an unused licence or are thinking of giving up driving, assess its value first and compare: today’s resale price versus 24 months’ licence rental income. With both figures in front of you, the decision usually becomes clear.