Have you ever considered renting out your parking space to earn some extra money? It’s easier than ever to start a side business and earn additional money each month if you have a vacant parking place. You might make up to thousands of pesos annually by renting out your vacant space to a commuter, local office worker, or student looking for parking.

You may not have an idea of how important an empty parking space can be. Therefore, let’s glance at the importance of parking spaces first.

The Significance Of Parking Spots

For employees, finding a parking place is one of the most aggravating things in the world. Driving around in circles, attempting to fit into tight locations, finally parking at a distance from work, and being wet and windy. Is this the best way to start the day?

People in a hurry might sometimes block others in if they don’t have time to hunt for a parking spot. After that, they spend the rest of the day distracted and unproductively worried about who could be blocked in by their automobile. It’s considerably worse for disabled drivers, who require handicapped parking spaces with easy access to the building. Simply said, insufficient parking irritates people and produces unneeded confrontation.

Furthermore, parking is the initial point of contact between a company and its clients. When that encounter is favorable, it sets the tone for the customer experience. A lousy parking experience, on the other hand, might irritate consumers right away.

Parking, like the noise level, the layout of a place, or even temperature, may enhance or break a customer’s impression of a business. And it will very certainly decide whether or not they return. In fact, 40% of drivers report they avoid stores with limited parking.

So, if you have one, why not monetize it by making it available as a parking space for rent. However, the question here pops up: whether or not you can rent out your parking space?

Continue reading to know if are you an eligible owner?

Can You Rent Out Your Empty Parking Space?

Well, the simple answer to this is Yes!

Renting out your spare parking space and earning extra money almost sounds too good to be true. Fortunately, Leeveit makes advertising your space simple and secure. Consequently, gaining some additional passive revenue. Renting out your property is simple; you won’t have to bother posting advertising on different sites.

When you ask someone to rent your parking space, you simply need three things to get started: size, pictures, and information. To begin, attempt to provide at least three images that clearly depict your parking place. Further, you must also submit the specifications of your parking space. This allows drivers to determine whether or not the area will accept their car. You’ll also need to supply some information, such as the characteristics of the parking space, access and security information, and the distance from any facilities or public transportation.

The Keepers, who rent out parking space, control the access timings. Most Keepers choose to provide 24-hour access, but this is entirely up to you. You may also install lights and CCTV, which are fantastic extras when asking someone to rent your parking place.

What impacts the income you earn through rent?

The amount you earn is impacted by the location and type of parking places you have. This includes inside space, outdoor space, driveway, garage, or underground parking spot. When you ask someone to “rent your driveway,” the typical driveway parking size is 2.5m x 5m. Apart from this, if we talk about pricing, it highly depends on your city and whether it is in a residential or business area.

If you’d like to rent your garage, the standard dimension is 2.5m x 5m. The renter will require a key, remote, or swipe pass. Garages are in high demand because they give more security than a driveway. So, why not make some extra money by renting out an outdoor unoccupied parking place or a street parking spot to a local who needs extra space?

Do you still have doubts about asking locals to rent your parking spot’? You’re good to go as long as you satisfy the simple prerequisites above. It takes less than ten minutes to offer your parking place for free online.

Wrapping Up

Whether your parking spaces are downtown, at the airport, or at a major public transportation hub, someone will be eager to rent your spare parking space. Drivers aren’t just shopping for the cheapest parking spot. They’re also looking for safety, convenience, and a secured spot close to their destination, while deciding on the most extraordinary monthly parking near me. So, if you have a personal space or commercial parking lot for rent and it may meet drivers’ requirement, why not use Leeveit to list your parking space for free. To encapsulate, we can say that it is a zero-investment side hustle.

Wondering, what’s next?

Have a quick look at our website, list your parking space for free, get driver’s requests, and get paid!