Not everyone has the luxury of owning a spare parking spot in a busy metropolis but for those who do, you can earn passive income by renting it out. JustPark works like Airbnb but for parking spaces. The rental fee is much lower compared to renting out a house or a condo unit from Airbnb but you don’t really need to do anything – no toilets to clean, no bedsheets to wash, no furniture and appliances to maintain, just a clear space and you’re all set. This opportunity fits well for condo unit owners with parking spaces in a busy metropolitan area or those who live near landmarks areas such as stadiums, train stations, airports, and churches. You can rent out your space per hour, day, week or month. Start by signing up with JustPark and start the listing process. Provide a description of your parking spot including the exact address, type of space (garage, driveway or carpark), transport links, access instructions, and other additional features. JustPark takes a minimal 3% of the rental fee (for bookings < 2 months) so if you get paid $10 a day for parking rent, you take home $9.70 while JustPark takes $0.30. You can set any price but the average rental fee is between $5-15 per day. That’s passive income at its best.
Availability
UK, US, Canada, Australia, France, Spain, Italy, Germany, Turkey, Sweden, Austria, Finland, Denmark (see below for other countries)
Mode of Payment
PayPal Bank transfer
PRO Tips
- Quickly reply to inquiries, no one wants to deal with a person who is not keen to serve.
- Make friends with the driver if you see him. If they get a positive experience they might book you for a longer period of time, this saves you the hassle of dealing with a new customer.
- Create a clear listing and make sure it is always updated.