You love Chicago, but the rent is killing you.
According to YardiMatrix, the average monthly rent in Chicago is $1,628. Rents grew nationwide, on a year-over-year basis, by 6.5% in the last year, so there’s no relief in sight.
If you are feeling the financial pinch of high rent, you’re going to have to get creative.
Take on a roommate or three? Well, maybe. You have thought about it, but then you take a look around your place and start imagining: pizza stains on the wall, strange wall-banging in the night, and a doesn’t-know-when-to-quit-talking stranger who hogs your favorite chair.
Here’s a concept:
Rent out your garage or parking space.
People are out there right now who need a place to park in your neighborhood. If you live in a popular area such as Bucktown, Near Northside, Lincoln Park, Wicker Park/West Town or The Loop, they are especially desperate for a spot.
If your space is vacant—for an hour, a week, a month or long term—it’s a hot commodity. Maybe it’s time you turned that commodity into cash, creatively.
ParqEx is the peer to peer parking app that allows people who need parking to find people who have parking. We provide a user-friendly online marketplace that matches registered members who own parking spots (Owners) with members who want to use them.
Download the app to your android or smartphone device and you are instantly connected to hundreds of people who are searching for a parking spot.
TELL ME ABOUT THE MONEY
You set the price for your parking space. Prices vary by time, demand, location and other factors. You can use the app to see what other people are charging for similar spots to get an idea of the going rate.
You earn 80% of the rent money your parking spot earns. At the end of every month, the income is deposited into your account, or if you want to receive a check in the mail, allow an extra 15 days.
Not sure you want to rent your space to just anybody? The good news is that you don’t have to. At ParqEx we check and approve accounts, but in the end, you decide. Rent your space or not, it’s up to you.
We recently added an in-app chat feature (proof that we listen—this came as a result of app user feedback), that allows you to communicate with a prospect before committing, and after, to pin down all the details. This kind of personal connection sets ParqEx apart from the competition.
What if you listed your space as available, but decide to stay home and sink into your couch and Netflix?
Or what if your friends show up at your door with that road-trip look in their eyes and you get the feeling that your parking space might be vacant for, well, quite a while?
Not a problem—with ParqEx you can add or subtract your space from the list instantly.
In addition, we’re all about parking and only about parking at ParqEx. Unlike Craig’s List or the classifieds, you won’t have to share space with Go Pros and baby strollers.
ParqEx lives in Chicago too—at 111 West Illinois Street.
If you want more info, contact us and we’ll talk about how you’re going to turn your blank space into cash.
And while you’re making creative cash by renting out your parking space, try Elizabeth Atkinson’s 10 Things to Do for a Dollar in Chicago.
We’ll see you at Lillie’s Q.