Photo: Wikimedia Commons
Now there’s a new way to make some cash off of your driveway spot.ParkatmyHouse links property owners with drivers who need cheaper (and hassle-free!) parking.
Anthony Eskinazi, founder and CEO, first thought of the idea in June 2006, when he had a tough time finding parking for a Giants game while studying in San Francisco.
He realised parking in a stranger’s driveway would easily solve the problem—and could potentially be a pretty lucrative business.
A few months later he moved back to the UK, where he’s from, and launched the site there. The service doesn’t officially launch in the states until later this month, but you can start registering as a renter or parker now. The site will ping registered drivers when parking spots in their area become available.
ParkatmyHouse isn’t just limited to individuals either. One church in the UK made $150,000 last year by renting out eight parking spots, Eskinazi says.
To get started, plug in your zip code to determine how much your driveway is estimated to cash in per year.
The company recommends their own rates based on how often the area’s frequented, but users ultimately set the price. On average, spots near stadiums range between $15 and $30, airports between $5 and $15, and train stations between $10 and $20 per day.
Users also have the option of renting their spots for longer periods of time—monthly rates can range between $50 to $600 depending on the safety, location of the area and other variables, Eskinazi says.
ParkatmyHouse is a win for all as it helps drivers save time, homeowners make money, and overall traffic congestion decrease. As Eskinazi says, “Every journey starts and ends with a parking spot.”