Parking Income: ParkatmyHouse Launches in DC in March

  • February 17, 2012

by Shilpi Paul

Parking Income: ParkatmyHouse Launches in DC in March: Figure 1

As density increases in DC, every square foot of property is becoming more and more valuable. And parking spaces are no exception.

A new website is trying to make sure that every usable parking space and empty driveway becomes available for car parking, and can be monetized by owners. ParkatmyHouse, a UK-born site that acts as a middle man between car owners and parking space owners, will launch in DC and other U.S. cities in early March.

Spaces can be rented for anywhere from an hour to a year. Car owners who need a place to park their car can punch in an area or address and find a number of spaces available for rent in the vicinity.

Like Airbnb, the website manages the booking and payment details to ensure the safety of the transaction and keeps the pricing decisions up to the space owner. While craigslist.org has some similar options, this website feels a little more secure. In return, the site takes a cut of the transaction.

According to a recent piece in Smart Money, the site has found a customer base across the pond.

From Smart Money:

One woman, for example, pays about $1.50 for 15 minutes to park her car and walk her daughter to school every day. And a church that’s near the bustling King’s Cross Station earned $180,000 a year renting out spaces – half of the church’s yearly income.

Does DC have a market for this service? Will homeowners near commuter Metro stations and major sporting venues soon be generating some cash?

See other articles related to: parking

This article originally published at http://dc.urbanturf.com/articles/blog/park_at_my_house_launches_in_the_us/5154

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!