Private parking is even worse.
Perhaps… profit from renting your driveway?
Why Rent Your Driveway?
Since then, and as you likely know, prices have gone up exponentially.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
Well, theres certainly someone.
These spots are not only on the market for exorbitant prices, but selling for them, too.
One of those parking spots is easily equivalent in price to a single house in Piscataway, New Jersey.
Piscataway was chosen simply because its a suburb within a reasonable drive from New York City.
Feel free tocheck it out yourselfon any of your favorite home-browsing services.
How to Rent Your Driveway
Outrageous parking fees lead drivers to look for parking elsewhere.
Luckily for you homeowners, that elsewhere could be that extra space in your driveway.
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Heres how to rent your driveway.
Have a Driveway
Thats right, your extra driveway space can help make you some extra cash.
Websites likeNeighborandParkingForMeare among the largest online parking marketplaces.
They provide users with a place to list and rent out their available driveway space.
One of the spots is going for $600,000!
Getting started is easy for most of these sites and apps.
In fact, it doesnt take long at all to register.
But within a reasonable timeframe, you could be renting your driveway.
(But you shouldnt expect half a million that those Manhattanites are paying.)
Choose Your Marketplace
There are multiple apps and websites available for renting your driveway out.
Heres a look at a few options and their features.
Neighborboasts that the average host makes about $300 a month renting their driveway.
you’ve got the option to also sign up in five minutes or less.
With Neighbor, you’re able to rent out more than your driveway.
Payments are digital, viaStripeso you wont be having to handle any money.
OnParkingForMe, you could easily see and set hourly, daily, weekly and monthly rates.
As opposed to Neighbor and Spacer, the terms of payment and acceptance are your responsibility.
So ParkingForMe does not handle it.
And unlike Neighbor, ParkingForMe is only for renting parking spots.
It also boasts a comprehensive FAQ, which is nice.
There are, however significantly fewer listings than Neighbor.
There is by far significantly less volume than ParkingForMe.
For instance, no parking spots were found in New York City or San Francisco.
Only one spot was found in Dublin, Ireland.
You also must pay a yearly fee to place your listing, which other sites do not charge.
OnSpacer, you’ve got the option to only rent parking spaces.
Their maximum price per month is $1,000 and their minimum price per month is $50.
It does appear to have more options than ParkingForMe, but fewer than Neighbor.
And lastly, payment is digital, viaStripe, just like Neighbor.
Curbflipboasts that you might sign up in a minute and set your rates easily.
Like most other sites on this list besides Neighbor, Curbflip is solely for parking spaces.
But you are able to offer spaces for motorcycles, bikes, RVs, boats and more.
Curbflip also handles payments for you and allows you to message renters on-site.
Additionally, Curbflip is surprisingly worldwide.
Month-to-month may be the go-to option for your driveway.
Otherwise, nobody is dying to pay for your parking space in Remote, Oregon by the hour.
However, there is something to be said about offering a daily or weekly parking space.
Renting your driveway daily or weekly is especially helpful if you live near:
4.
Thats not too shabby for something youre not using anyway.
Give it a try!
Frequently Asked Questions (FAQ)
It depends!
Most websites do not charge you to list your driveway rental.
Usually a service fee.
For example, here is one for the zoning officer ofPortsmouth, New Hampshire.
That depends on the marketplace you choose to make a listing.
Some marketplaces dont handle money at all, you will have to directly collect payment from the renter.
Some have tools like Stripe to make it contactless and completely digital.
Again, this does depend on the marketplace you use.
However, for example, Neighbor offers a$1 million host guaranteeas well aspayout protection.
Dennis Lynch is a civil engineer turned freelance writer with a passion for personal finance.
you’re free to find Dennis over atcolossicus.combetween his freelance ventures.
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