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Do you live near a university, sport stadium, train station, CBD, beach or shopping precinct? If so, you may be in for a nice surprise once you discover this latest Australian trend in carparking by visiting Parkhound.com.au!Yes! These guys will help you make money out of your spare space so you can stash more cash. What a win win!
I’ve had an experience like this. In my flatting days in NZ I used to live opposite a major sports arena. My flatmates and I made fabulous money every weekend while sitting on deck chairs and taking people’s money in parking fees! We had some great summers at that flat! And as cash poor students we were over the moon about the extra cash. Some weekends we’d create a big discount on our weekly rent. Some weekends we’d pay our entire week’s rent. Our little parking spot was a win-win for all. The spectators were happy. They only had to carry their Esky’s a few hundred yards across the street too.
So here’s the scoop on how to make money on your spare space
How many asset classes can claim to generate money for nothing?
Not many, if any. Parking however is one. With a lack of public parking a major issue across most cities, more and more Australians are turning to Parkhound, the online car park marketplace, to lease out their spare parking space. It’s the stress free, no overhead way to earn some spare cash on the side. With universities, train stations, sports stadiums, work hubs and beaches in hot demand, there are opportunities for everyone to find ‘cash in your garage’.
Parkhound is an online marketplace that takes the hard work and legals of leasing your parking space. Parkhound connects drivers looking for parking with local property owners who have spare parking spaces. Local residents make money from leasing a parking space such as a garage or driveway and motorists get a cost effective and hassle free parking experience. The company is launching an iPhone and Android booking app in the New Year.
So why would you want to lease a parking space?
Parking has one of the highest yields of any asset class available. Most owners can expect to earn up to $3-4,000 a year from a single parking space. There are no maintenance costs, no repairs, no paint and most of all no bills to deal with. With the number of parking spaces available for every car on the road at record low levels, parking demand is huge!
A compelling solution
Leasing a parking space can be especially compelling for students and singles. When you compare leasing a parking space or sharing a flat with someone, parking wins hands down. A parking space can generate similar money to a roommate but there are no dirty clothes on the floor, unwashed dishes to deal with or empty rolls of toilet paper. Actually, leasing a parking space is a great option for everyone. With parking in demand pretty much everywhere, Parkhound have suggested some major hot spots for you to consider:
Universities
Students are always on the hunt for parking. Most universities seem to have enough parking to cater for about a quarter of the students circling the parking lot on any given day. Most universities also have poor transport links with major campuses located in random outer suburbs. Due to this most students tend to use street parking with a regular walk back and forth between classes. So the simple message is, make a student’s day and list your space.
Sports Stadiums
Australia is the sporting capital of the world. Aussie rules, rugby, football, tennis, golf, netball – you name it, we support it. So if you have a spare parking space near a sports stadium put it up for lease. Don’t worry if it’s a short walk or bus ride to the ground. Commuters are just as keen for parking that isn’t on the door step of a stadium to avoid traffic. Properties near the MCG or the Tennis Centre are in demand. Areas near the SCG or Stadium Australia are also popular. You can lease out these spaces over the short and long term and expect to make in excess of $10 an hour with these spaces on game day.
Train Stations
It may sound counter-intuitive but parking near train stations and other major transport hubs are in huge demand. Thousands of Australians ‘drive and ride’ to work by taking their car to the nearest station and then taking a train into the CBD. With parking at stations limited, expensive and under increasing parking inspector scrutiny, now is the time to lease out your nearby parking space. You can expect to earn over £150 a month depending on location.
Work Hubs
With city rents skyrocketing a lot of Australian businesses are setting up offices further away from the CBD. It is now quite common to see major buildings with thousands of staff in a suburban community. Whilst underground parking is often factored in it is never enough. With workers forced to park on street and shift spots every 2 hours, your parking space could cause a huge improvement to worker productivity.
Beaches
The only annoying thing about a great Australian summer is trying to find a parking space near the beach. We may have some of the best beaches in the world but we also have some of tightest beach parking restrictions. Even if you are lucky enough to find a parking space you are likely to melt on the way home after your car has been in the sun all day. So if you live across from a beach or have a holiday home, list your parking space now before summer starts. Undercover spots are likely to get even better rates.
Shopping Precincts
Most major Australian shopping precincts have inadequate parking. On street is expensive and has limited availability and tight time restrictions – who can complete all their shopping in 2 hours? Off street is double the price and impacts how much you can spend on shopping itself. If you have spare parking spaces near a major shopping strip then list it. Even if it’s occupied for a few hours a day you can make some decent money.
So just give it a go. Register your details on our site on www.parkhound.com.au and see what happens. It’s free to list and only takes a couple of minutes. You have nothing to lose and plenty to gain. You can join the hundreds of already satisfied sellers on our marketplace and start counting the money as it comes in. The only thing to worry about now, is that to spend all that money on!
