Why Rent your Parking Space to Smart Parking Solutions like ParkingAdda?

Do you reside in the city center, close to many companies, commuting routes, or maybe the local Marriage grounds or Sports stadium, etc.? Someone is probably eager to pay you cash and park his car to save time and ensure vehicle safety. It may seem absurd, but depending on where you live, you might earn more than Rs. 15000 per month for renting out your parking place, or even more depending on the number of slots available. Yes, you read it correctly — Rs. 15000 per month for doing nothing. And, because it is passive income, you may continue to make money during off seasons even if you are travelling for work, occasion or on vacation.

If you have an empty parking place, you can probably rent it out and make money from it. But before, there are a few things to consider:

  • Is it allowed to utilize the area without a permission (for example, a spot on a driveway or in a garage)?

  • Do you legally own the property or do you have authorization from your landlord to rent it out?

  • Is it possible to enter the space without using a key, code, or fob?

If you answered yes to all of the above questions, chances are you'll be able to rent out your parking place without a hitch. Don't give up just yet, even if you've responded 'no' to a couple of the questions.

Here's our comprehensive guide to everything you need to know about renting out your parking place and earn profits.

For Individuals to rent a space -

Do you have a private parking place that you don't usually (or never) use? Join the shared parking revolution that can better Mumbai traffic and parking woes, by renting out your space with ParkingAdda!

To rent out your parking place, download our ‘ParkingAdda Vendor App’, enter your Registration Details, Verify your Details, add your Parking Space Details, Legal and Compliance Check and on Approval Start Earning for any issues you can call our toll free service or drop a mail we’ll get back quickly. Joining ‘ParkingAdda’ and renting out your parking space is always free and simple.

You may now decide how long you want to rent out your parking space for. You may also specify the specific dates when your parking is available and when you require it. We are delighted to advise you on a suitable rental pricing based on other rents and parking rates in your neighborhood or city. Your space will be safe as we will have dedicated representative at each spot to look after the operations and the complete details of bookings with earnings will reflect on your app.

Do you work for a corporation, hotels, a real estate business, a property owners group, or a semi- public institution?

You can simply rent out your spare parking spaces to dependable car drivers through ParkingAdda. You can rent out parking spaces for the whole day or simply at particular periods, such as at night or on weekends when the parking is empty. It is totally adaptable. We ParkingAdda works with any form of parking garage or car park, as well as any parking system as long its legal. It can be fully automated using our proprietary parking technology of ParkingAdda or in any other way that meets the demands of your company. Earning from schools or sports ground can be a huge benefit to yours accounts during slack periods. For example, even if you get 5 hours of parking daily for 20 spots you can make a minimum of up to Rs. 1, 50,000.

You may now choose how long you wish to hire out your parking place. You may also choose the days and times when your parking will be available and when you will need it. We are happy to advise you on a reasonable rental price based on comparable rentals and parking costs in your area or location. Your space will be safe since we will have a dedicated employee at each location to oversee operations, and all reservations and revenues will be reflected on your app.

Benefits to a Space Renter-

What happens to the parking place when you're not in it? What happens to wedding grounds during the afternoons? What happens to the grounds of religious spaces, schools and other institutions, etc.? Probably nothing. It seems like a waste to have so much space and then leave it open, when you have an option to earn lakhs through companies like ParkingAdda. Here are some reasons why you should rent out your parking space while you aren't using it-

  1. But obvious are the earnings-So this one is pretty self-evident. If you rent out your parking space, you can earn a lump sum amount on monthly basis the space usage through us. However, it is still worth discussing because it is perhaps the most significant component. People are prepared to pay a lot for parking, especially in major cities, so why shouldn't some of that money go to you if you have space to offer? At the absolute least, you'll have some additional spending money that you didn't have before. In any case, it's difficult to pass up free money.

  2. Hassle-free and Space Safety-So you may envision yourself standing next to your parking place, carrying a sign that reads "for rent." Fortunately, there is a mechanism that does the same thing but much more easily. ParkingAdda will list your place on our online applications that will be available on both Android and IOS app stores. We will also have a representative at the spot, so you don’t need to be there physically and can easily keep an account or track the usage on your ParkingAdda Vendor App. It's absolutely adjustable, and you have a lot of control over it. 

  3. Time Flexibility-The system is entirely secure. Your parking space will remain yours and will be available anytime you need it. You, as a vendor, would be able to quickly identify his/her area as 'not available' on the app itself, with prior notification.

  4. Transparency & Real Time Updates-Through the vendor app, you’ll receive real-time updates on Number of bookings, earning and space utilization.

  5. Help the community and world as a whole-As fewer cars are required to go about seeking for an open parking place, traffic flow improves. Looking for a parking spot wastes much too much automobile oil, gasoline, diesel, CNG, and so on in a single day. An ideal parking solution will greatly reduce travel time, reducing the amount of daily car pollution and, eventually, India's and the world's ecological imprint.

  6. Be a part of technology advancement-Sharing of goods is a recent trend that has grown at an unexpected rate. We now share automobiles, computers, residences, and a variety of other items. We are increasingly discovering that sharing goods, as well as their resource costs, may be a highly effective way to live. By sharing your parking place, you become a part of a big technological and social revolution.