Not everyone has the luxury of owning a spare parking spot in a busy metropolis but for those who do, you can earn passive income by renting it out. JustPark works like Airbnb but for parking spaces. The rental fee is much lower compared to renting out a house or a condo unit from Airbnb but you don't really need to do anything - no toilets to clean, no bedsheets to wash, no furniture and appliances to maintain, just a clear space and you're all set. This opportunity fits well for condo unit owners with parking spaces in a busy metropolitan area or those who live near landmarks areas such as stadiums, train stations, airports, and churches.
Find parking, wherever and whenever you need it, online or via the JustPark app
To start - sign up with JustPark and start the listing process. Provide a description of your parking spot including the exact address, type of space (garage, driveway or carpark), transport links, access instructions, and other additional features. JustPark takes a minimal 3% of the rental fee (for bookings < 2 months) so if you get paid $10 a day for parking rent, you take home $9.70 while JustPark takes $0.30. You can set any price but the average rental fee is between $5-15 per day. Pure passive income at its best.
Mode of Payment
PayPal or Bank Transfer
Ease of Use
How to do it right
Create a clear listing and make sure it is always updated.
Quickly reply to inquiries. No one wants to deal with a person who is not keen to serve you.
Make friends with the driver if you see him. If they get a positive experience they might book you for a longer period of time, this saves you the hassle of dealing with a new customer.
The above tips are from this article.
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JustPark is a technology platform that matches drivers with parking spaces through its website and mobile application. Previously known as ParkatmyHouse, the company was founded in London in 2006 by Anthony Eskinazi. The service lets drivers book via the app or website and includes commercial and public car parks, in addition to private parking spaces (similar to other sharing economy services, such as Airbnb) - allowing property owners to make money from their underused spaces by opening them up to drivers looking for parking. The company's slogan is "The Parking App: Find parking in seconds".