How can you earn extra revenue from your parking lot

Is your parking space made out of gold? If you live in a big city, near a train station or airport, chances are it might be. In the past decade, there has been a gradual and significant upsurge in urbanization as more people migrate toward cities. Finding spaces is becoming increasingly difficult but free parking spaces are not what is missing.

In fact, there are many unused spots that are waiting to be “recycled”. Leasing out your own inactive parking space not only helps in mitigating heavy traffic, but you can also earn money from it!

Whether you are a firm’s manager looking to optimise your free spaces, a school with vacant parking lots during the night, or simply an individual looking for a better use of his unfilled parking slot, you can benefit from numerous advantages while helping others.

• How it works
• Who will you be leasing to?
• What are the benefits of leasing your parking spaces

1. How it works

The concept and process of driveway or parking space rental has been rendered relatively straightforward thanks to new technological smart management platforms.

You simply lease out your parking space that you are under-utilising or not using at all to someone looking for a guaranteed and secure parking spot for their vehicle, in return for cash.

The leased space can be your driveway, off-street parking space, garage or lock-up. It doesn’t matter, as long as it’s yours to let and is suitable for parking.

It’s a win-win situation: tenants get space at a competitive price and landlords get money in their pocket for very little effort.

In our case, BePark can help you allocate and optimise your unused parking spaces. We take care of the whole process, administering and supervising the operation altogether. We use smart management systems that includes information platforms and effective technologies such as controllers that regulates the access of parking gates through our applications. Our user-friendly is up-to-date and reliable; you can depend on it for leasing all your open spots.

2. Who will you be leasing to?

As mentioned earlier, those looking for a parking spaces come from all walks of life, considering they own a vehicle. Most customers are just everyday drivers looking for a safe and affordable spot to leave their car. From students, to employees and managers, their struggle is the same to search for parking spaces. These include but are not limited to:

• Employees who are looking to park conveniently close to their workplace; they represent the majority of renters and the most consistent users during work hours.
• Commuters who want to park near an airport, train or coach station as they will need easy access to those hubs.
• Spectators who need to park near to a concert, sports or entertainment venue since these places are usually congested.
• Travelers who are searching for a cheaper alternative to airport parking. (the price difference can become significantly overbalanced).
• Car owners who want to avoid residents’ parking restrictions.
• Tourists looking for affordable and convenient parking near an attraction to facilitate their overall visit.
• Anyone looking for overnight parking while planning for night activities or just visiting a new area.

3. What are the benefits of leasing your parking spaces?

Leasing is a still a relatively new industry as reallocation of used resources is becoming a new trend. As smart cities are starting to promote the sharing of vehicles, spaces, and resources there is still huge untapped potential for you to take advantage of.

Leasing offers more flexibility, more affordable prices and shorter leasing periods. Leasing is clearly not without its benefits, for both parties.

Advantages for lessors

• You can potentially make good money for little effort
• There is no outlay or investment required before you start earning
• Flexible pricing means you can compete with commercial parking lots and still turn a healthy profit
• Rental firm’s mobile apps and platforms take the hassle out of dealing with customer reservations and queries while helping find new clients
• Economies of scale

Advantages for customers

• Rental periods are flexible, so you can rent space when it suits you
• More value for an affordable price
• Possibility of flexible contracts
• Immediate availability of parking
• Smart management applications, systems, and platforms

Advantages for smart cities

• Helps relieve pressure on street parking in heavily congested areas
• Improve space management around the city
• Promotes sustainable developments
• You are performing a useful public service by helping to meet the demand for parking