Finding new solutions to renting out parking space

We have come across several articles recently regarding techniques that people are adopting to source alternative car parking options, or find new customers for their existing assets.

The Sunday Telegraph published an article recently about renting out vacant property space, both for storage and parking. The article, “Cash in your spare space”, reports that returns from a spare room or car park can be upwards of $300 per month.

We’ve also noticed several entrepreneurial websites popping up (examples include Spaceout and Rent My Carpark), tapping into this trend and providing a marketplace for this niche market.

Judging by the number of listings on the sites at the moment, they don’t seem to be in a position – yet – to threaten the marketplace for commercial parking in the CBDs. But with growing demand for parking and increasing economic pressure, the popularity of such sites and services can only be expected to grow…!

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