Rent Your Parking Space: 5 Apps To Get Started
The Wealth Gang team writes about financial information, passive income ideas, apps, programs, cash management tools and other wealth gadgets that we think you might want to use or learn more about. Sometimes, we write about products, services or items that might be associated with affiliate partnerships. In these instances, we will earn a small percentage of the revenue from sales. There is, of course, no cost to you.
Thank you for all your support! Without you, we could not keep this site running. Gang Gang!
5 Apps and Websites where You Can Rent Your Parking Space
It’s truly amazing what people manage to sell online. From cheese toasties that look vaguely like Samuel L Jackson to actual human souls, anything and everything can be monetized. Please step forward, the latest high-value product, your unused driveway. Here is our post to rent your parking space.
Several apps and websites now allow you to rent out the unused space outside your house. Whether it’s a driveway, parking space or even a shed, these unused spaces could be veritable goldmines. Some landlords are making more than £200/mth!
How does it work? Well, it’s very simple. Through your chosen website or app, you set a price and create your advert. Whether it’s too secure parking for that football game, or to have a space close to work, drivers will rent out your parking-space for a designated period. Simple enough. However, not all apps were made equal. Here’s our review of five of the most popular parking-space rental websites and applications.
Pros: Huge customer-base, low fees
Cons: Fierce competition for customers
Fees: 3% for short term rentals. 20% on the first month of long-term rentals and then 3% thereafter
Available: iPhone, Android, PC, Mac
JustPark is what Coca-Cola is to the drinks industry, what Audi convertibles are to middle-aged men going through midlife crises. With over three million registered drivers and 45,000 sellers, it’s dominating the parking-space rental industry – and for good reason. Offering an efficient, stream-lined phone application and reliable 24hour support, JustPark is a safe option for those wanting to turn their driveway into dollar. Furthermore, JustPark’s fees are impressively low. The app takes 3% commission on short term rentals. For long term rentals, they take a commission of 20% for the first month, but only 3% thereafter. The only drawback is that, due to the fact it’s so popular, you’ll face fierce competition from the thousands of other sellers.
Pros: Efficient, growing customer-base
Cons: Hefty fees, no phone application available
Fees: 30% for short term rentals, 20% for long term
Available: PC, Mac
Parklet is another good option. The website is easy to navigate and their 24 hour support team are highly attentive. In 2018, some customers complained that they were having problems finding tenants for their spaces. However, Parklet has grown significantly since then and it seems like this is no longer a problem. With regards to downsides, they take a hefty commission – 30% for short term rentals and 20% for long term. They’re also yet to release an app version.
Park On My Drive
Pros: No commission fees and access to a different market
Cons: Clunky website, no phone application available.
Fees: £20 yearly subscription
Available: PC, Mac
Park On My Drive isn’t the obvious option. Their website is extremely dated and not necessarily the easiest to navigate. For many users, the slick interfaces of Parklet and JustPark will be more appealing. However, this doesn’t mean you should discount Park On My Drive completely. After all, their fees are the lowest of any designated parking-space rental site. They charge a one-time yearly registration fee of £20. This is only paid after you receive your first customer. An unorthodox option, but not one to be ignored.
Pros: Outstanding support team, verified users
Cons: Only monthly rentals, no phone application available
Fees: VAT inclusive service fee
Available: PC, Mac
StashBee began as a website to rent out spare storage space. Having grown since then, they’ve now moved into the parking-space rental industry. So far so good. Their website has a great, easy-to-use interface and they’ve received rave reviews for their support team. Furthermore, StashBee are careful to verify all their users. Therefore, you can have peace of mind that your driveway will be respected. Unfortunately, however, there is no option for short-term rentals. Instead, Stashbee only advertises your parking space as available for a minimum of one month. Also, there is no app available. All commerce is done through the website.
Pros: Best profit-margin for long term rentals
Cons: You have to do it yourself
Fees: One-off £8 advertising payment
Available: Android, iPhone, PC, Mac
You can sell just about anything on Gumtree and there’s no reason why this doesn’t apply to parking spaces. Renting out your driveway on Gumtree isn’t necessarily hassle-free. You’ll have to design the advert and liaise with the customer yourself. Furthermore, as you don’t pay through Gumtree, you’re not necessarily covered through buyer protection. However, there is one huge plus to selling on Gumtree. If you’re looking to rent out your space long-term (perhaps 3 months or more) Gumtree is arguably your best option. Whereas dedicated ‘parking apps’ take significant commission on long-term rentals, by self-advertising through Gumtree, you’ll take home 100% of the cash.
We hope you enjoyed this post to Rent your parking space. Want to try something else? Take a look at our post about selling your photos!