The Simple Way To Cash In On Your Empty Parking Space

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If you live in a city then there’s a good chance you’re in an apartment with a car parking space or two underneath the building. This is a practical arrangement as it provides parking for residents and avoids the need to create additional congestion on the streets. A simple equation will tell you that there isn’t enough space around an apartment block for everyone in the block to park their cars, underground parking makes sense. 

But, while developers work this out and create the space under the building, they generally don’t allow for the fact that the majority of people that live in the city don’t own a vehicle. The result is hundreds of commuters looking for spaces with limited on-street parking available. It means that off-street parking operators can charge virtually what they like for the spaces they have.    

Fortunately, there is another way. You can use this firm specializing in car parking Perth cbd and rent your unused parking space. There shouldn’t be an issue but it is advisable to check the terms of your lease first.

The company will match you up with someone who needs your space. They’ll pay less than the annual rate with the off-street car parking operators. However, you may be surprised at how much they will pay for your space. It’s not just the convenience of having a space near their work or the train station. It’s the reduction in stress that makes a difference for renters. 

Of course, you’ll get paid through the car parking firm. There is a small charge for the service but you’re still making money for something that you’re not using and just sits there. That has to be a pretty good feeling!

Why Use the Car Parking Specialist

It is possible to simply advertise your space and rent it to someone that needs it. However, you won’t know who the person is and you may struggle to deal with any issues. For example, if the space is only supposed to be used between 8 am and 8 pm, what do you do if the car is still parked at 10 pm?

It can be difficult to enforce anything if you don’t have a legally binding contract. For the small fee that the parking specialist charge, you’ll get all the guarantees and a hassle-free experience. They will literally handle everything. 

The secret is to decide if you have any need for space or not. If none you’ll be able to command the highest level of the rental as space will always be available for them. The greater the number of restrictions the harder it will be to find a renter and your rental charge will be less. 

Final Thoughts

Renting your unused parking space or driveway is a great way to earn some extra money. At the same time, you’ll be helping people out, reducing congestion, and even potentially helping the environment. You don’t need any other incentive to start cashing in on your empty car parking space today.

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