I’m not sure what I think about this idea, but since I always like to pass along interesting money-making ideas I come across, I thought this was worth mentioning:
ParkatmyHouse.com is an
online parking space
marketplace connecting home owners with under-utilized parking spaces
to drivers needing somewhere to park. Drivers can save significant amounts of money by parking in a
private residential space instead of a large commercial parking lot and
due to the tough economic conditions, homeowners are signing up in
their droves to make their property work harder for them. Some homes are renting out their parking spots for $400 per month!
Anyone heard of this service before? Would you rent out your "parking space" at your residence to someone through a service like this? I’m curious to hear your thoughts.
I would definitely do this. I wouldn’t let them park inside my garage, but in a parking space? Definitely.
I’ve done that before, but not for profit. When I had no car and lived close to our university I gave my street parking permit to a friend so that she wouldn’t have to park in our university’s very pricy parking garages. I knew other folks who sold or loaned out their permits and/or guest permits.
Another time when my husband was renting a practice space for his band, they sold parking at their practice space for the big Tucson Gem & Mineral Show- it more than paid for their rent! Definitely a good idea if done properly.
I live near University of Kentucky and lots of people rent out their driveways and yards to fans on game days. They typically charge $10/car and they are always full. This year the Lexington PD has begun issuing citations for vehicles parked in a yard, so a lot of homeowners are complaining about their loss of revenue. I don’t see how they can cite someone for what they do on their own property. Anywho…it’s a mess.
I’d totally do it! I live in a rural area so there’s nothing to walk to except… land…
Letting someone park in the empty spot in your own lot wouldn’t be any different than parking by a stranger at CVS or a parking garage. Also, anyone can walk by your house on the street, so what’s the dif?
Awesome idea that benefits both parties 🙂 Perhaps this will force commercial and city lot owners to reduce their outrageous fees!
Um, no. That sounds dangerous. I’d let friends park in our driveway if there was an event nearby (there isn’t, but in theory), but I wouldn’t rent it out to strangers, and the street in front of my house isn’t my property, so it’s fair game anyway.
When we hosted the PGA last year in Tulsa, people rented out their entire homes to rich people who didn’t want to stay in hotels. That’s taking it yet another step farther away from my comfort zone! Not that they’d want my house, but again, it’s about the theoretical, right?
Think about the insurance liability, too! What if something happens to them on your property? Better have good insurance before trying that in this day and age!
If it’s too good to be true, it’s probably not good at all. I’ll get my money another and safer way, personally.
This is so weird… just the other night I was thinking about how if we lived near an airport, we could rent out a parking space or two and bring in some extra money that way. When we go to JFK, we park offsite at a car lot, but we pass through several neighborhoods – which is what made me think of it.
Also, in MA there is a huge, multi-state fair called The Big E for about 2 weeks in Sept. There are homes for miles in any direction that offer parking for a daily fee. I’ve seen that for smaller, weekend fairs too, but those guys are so lucky to have it for such a long period of time!
I live in a small town, so this would never work for me. My house is nowhere near where anyone would need, or even want, to park. Plus, parking where I live is always free before 6pm during the weekdays., and free on the weekends. I could see how this might work for someone who lived near a downtown area. Maybe. But personally, even if I did, I still wouldn’t rent out my driveway. Who knows what kind of company you could potentially keep.
I used to work in a city and paid for a space in a parking garage. It was a large amount and I would have gladly paid someone less, especially if it was in a safe area and closer than my garage spot which was 5 blocks from my office.
I live in NYC and trying to find parking here is a disaster! There are people who will even move your car for you (for a price) when the street cleaners come. If you have a space in the parking garage of your building, or in the lot behind/beside your house for those who are fortunate to have the space, there is huge money to be had.
As far as zip cars go (Lynne commented on it), you have to pay for a membership and then every time you use the car. It ends up being a small fortune. Renting is almost always a better option if you need a car. Thankfully, public transportation is fantastic here and taxis aren’t too bad if you need them occasionally.
When I was in college my roommates and I rented out our driveway on gamedays due to the influx of cars for football, basketball and baseball games. We’d move our cars onto the limited street parking the night before and charge $10 or more depending on how popular the game was. Since we could fit 4 cars we’d make decent money and we could still park our cars in the driveway during the week!
A few people in my sisters condo do this. She has 2 spaces included in her condo contract but only uses one right now. The other one is rented out for $250 a month, great money if you can do it
There are places where this will really work well. Since we live ‘out’, and work in a town where parking is not an issue, it’s not something we’d use, but when we lived in Honolulu, I knew lots of people that could have made good money from this! Back in the late 80’s we were paying $700+ a month for a teeny tiny apartment, and if we wanted a parking space it was an extra $350. (We didn’t have a car, and used the bus system!) If our landlord from back there learns about this, I bet he’ll fill all the parking spaces!
yes! i would do it.
we have events in our town all the time.
We’d do it, if we didn’t have so many cars ourselves. Hubby is a car-guy, so we have a motorcycle and four cars at the moment, with another one on the way. *sigh* How did this become my life?
Another really neat new concept is the zipcar….
go to zipcar.com
It is a great idea.
They place cars in an area, like a college campus.
Users are already members and have a card.
Find the car, zip your card and car opens and off you go.
The rates are really cheap compared to taxi’s and more convient than the bus system.
I wish I could come up with a great idea like this.
lol
Lynne
Wow – (and I’m not just talking about the logo!)
My neighbour has been renting her parking spot for $250 a month. Now I can get in on the act. Will probably keep burglars away too as they will think there is someone in the house.
This looks like a great idea for some people. Of course be careful with your safety. My mom use to rent out her unused two car garage for some extra money.
I live right in a downtown area of a suburb so I’m sure I could do this, but no thanks. It sounds like you are selling your privacy.
If I lived in the city and had an extra spot, I would absolutely do this. You never know who’s parking on a public street 50 feet from your front door, so I don’t think that renting your spot to someone who is willing to pay you for it would risk your safety too much. Interesting idea!
Seeing that we live 45 minutes from the city on a dirt road with our closest neighbor a 1/4 mile away, I don’t think we’ll be using this service anytime soon! LOL
Brandi
I would do it, with a bit of an interview required. But, no one would want to park at my house since it’s not within walking distance of anything but more houses!
haha, that is a crazy idea, but I guess that’s because I am in a small town (thank goodness). Business ideas never cease to amaze me!
You bet I would. If we lived somewhere where parking was needed I would have no problem. I suppose the liability issue would be something to consider. If that is covered I would go for it.
I wouldn’t do it. Who knows who’d rent a space from me, and that sounds dangerous!
I’ve never heard of this service, but we just rented out half of our HUGE 2 car garage to someone that was going to rent a storage space for a few months. We don’t miss that half of our garage, and it’s making us $100 month.