There’s nothing more luxurious than having a parking space on campus that you don’t even need–or want–to use. While many students are struggling to find a place to park their cars, you have a parking space that’s just sitting there! In some cases, that’s great for you. When you or a friend or family member need a place to park, you’re good to go. Even better, however, is turning that parking space into something that can earn money for you–especially during the times when you aren’t using it.
Step One: Decide When You Want to Rent Your Spot
In some cases, you might be fine with renting your spot out all day, every day. In other cases, you might only want to rent your spot out during specific times of the day or during specific events–game days and campus events, for example. Consider the hours: do you have a parking space just a short walk from campus that you don’t use during the day, but will need to pull into when you get off work at night? What about your days off: will you still be using your space then? Carefully consider when you need your spot to be available for your use–or that of friends and family members who drive–before you create your listing.
Step Two: Consider Your Pricing
On game days or during big events on campus, from job fairs to races, parking is at a premium on campus. On those days, you will be able to charge higher rates for your spot. For ordinary days, on the other hand, consider the price of other parking spaces near and on campus. Check out the average rates asked for by people in your area. Make sure you take into consideration how close they are to campus in comparison to your parking space: the spots closest to campus may be able to get away with charging a little more. If you know parking is hard, but not impossible, to find, listing your available spot for a lower rate is one of the best ways to ensure you’ll get people eager to use your space.
Finally, make sure you consider whether you really want to attract short-term parkers or long-term renters. In some cases, students or teachers who struggle to find parking on campus may be interested in renting your space throughout the week. In other cases, however, you’ll prefer short-term, single-use parking.
Step Three: List Your Space
Are you ready to start earning money for that empty space that’s just sitting there? Whether you’re gone during the day to your own job and your car won’t pull into your space until long after the students are gone or you’ve never felt the need to have a car of your own, it’s time to list your parking space and let it start making money for you! This relatively easy process makes it a snap to put together a listing and ensure that your space is visible to the public. Make sure that you take great pictures and list details about the space. How much room is available? Is it easy for college students to get in and out of the space? Is there anything interested buyers need to know–for example, how to get to the space more easily? By including those important details, you’ll make it more likely that your listing will be chosen.
Listing your parking space is a great way to add a side source of income and make the most out of a space that you aren’t using anyway. Whether you’re looking for semester-long rental options or you’re simply trying to make some extra money on the day of the big game, contact us today to learn more about how ParqEx can help.
