Since the meteoric rise of Airbnb opened the public’s eyes to what was already happening quietly in a few online communities, the sharing economy has revealed that there is a way to help out your neighbors and make money from almost everything. People are swapping tools, running errands for each other, providing moving services, dog sitting, and baking homemade pies for pay. While some might object to the monetization of neighborly interactions, the truth is that the sharing economy has brought us together to share opportunities that would have otherwise been wasted.
One of the most interesting changes brought about by the sharing economy is the realization that even your parking spot is valuable. One persons’ few feet of empty driveway could be the difference between another person’s enjoyable vacation or spending two hours looking for a safe parking spot, often at better prices than public paid parking. The only question is, is shared economy parking right for you? If your situation matches one of the following five parking rental opportunities, the answer is yes!
1) You live in the city… and don’t own a car
Many people who live downtown in a major city simply don’t bother to buy and maintain a car. In fact, it’s not uncommon to sell your car once you’re in easy walking or subway distance from everything you need including your job. Plus, with ride-sharing services, you don’t even need to have a car for the occasional more distant outings.
That said, the vast majority of single-family homes, apartments, and condos come with at least one safe and protected parking space. If you live in a busy city where parking is tight, you could be earning a premium for daily use of a parking space that you have probably completely forgotten about.
2) You’re about to take a long road trip
Of course, just like vacation rentals on Airbnb, your parking spot doesn’t have to be available all the time for you to rent it out when it’s empty. Any time greater than two hours that your car is going to be out of the driveway, you can list this period as open to paying parking guests. This means you can rent out your space while you’re away at work, during a long day trip, over the weekend, or for a week-long vacation somewhere else. As long as your listing matches the time you’ll be gone, your space should be empty (with a little extra money in your bank account) by the time you come home.
3) You lent your car to a friend this weekend
When a friend or family member is having serious car trouble, one of the friendliest things you can do is lend your car to them for a day or two while their vehicle is in for repairs. While you may be perfectly happy getting your dinner delivered and watching online videos for a weekend without your car, remember that your parking lot is now standing empty for a little while. This is the perfect opportunity to list it on a sharing economy app like ParqEx to see if someone takes the bait and pays you for your weekend indoors.
4) There’s an empty spot in your driveway that you never use
Many single-family homes have a wide two-car driveway and garage and many apartments come with two parking spots instead of just one. If you are in either of these situations, it is entirely possible to both have a car and have an open parking spot that no one ever uses or even needs to move through to get into the garage. This is actually the best possible parking rental situation because you can leave your listing open all the time and catch all possible customers who want to park in your region.
5) You really enjoy shoveling parking spots in Chicago, Boston, or Pittsburgh
In some of the popular and incredibly snowy cities like Chicago, Boston, and Pittsburgh, there is a delightful tradition of ‘dibs’. What this means, for those who don’t live in these cities, is that if you shovel a parking spot and put a personal marker like a lawn chair in the middle, that is your spot for your car. In many situations, the neighborhood might even unite to protect ‘dibs’ spots from being stolen by unawares or opportunistic parkers. If you have space where you’re allowed to park and really enjoy shoveling snow, you can do some poor visitor a favor by renting out an extra shoveled spot. Just clue them in on the dibs rules and what you’ll be using as a marker first.
For more fun tips and tricks on how to make your way in the sharing economy, contact us today!