Do you have a driveway but no car, or a wide driveway with room for an extra car? It doesn’t matter whether you rent or own your house/apartment, read on…
This is what you do:
- Assess your neighbourhood to see if there are any “institutions” such as your school or office buildings or any commercial/industrial establishments that have pay parking lots by checking the aerial/hybrid view of your area on the net, and walking or biking in the area. If so, and you find that legal, free parking during regular business hours is scarce in the area, then you can continue to step 2.
- Time how long it takes to walk directly from your place to the nearest office buildings/institutions with pay parking lots. Write down the time in minutes, and write down the daily rates for parking. If they are not easy to find, go to the outdoor smoking area and ask someone there how much parking is for the day for them.
- Write up a ‘Parking Spot for Rent’ flyer using this simple template that you can download for free and include the following: Monthly rate (make it about 20-25% cheaper than the going rate in the area) and your first name and email or phone number. Note: You can also create a new email account that forwards to your own account with a name such as cheap_parking_spot@hotmail( dot) com.
- Post it semi-discreetly within view of the smoking zone/area outside of the building. People will see it, talk about it and tell their peers. If you are able to post on a bulletin board inside (with or without permission) by all means go for it!
When someone contacts you and you are negotiating details, be sure to negotiate parking times (for example: available only from 7am to 7pm, that way your guests can still make use of the spot), duration of availability (3 months, 6 months, a year?!?) and that you require 30 days advance notice if they plan to discontinue parking in your driveway. Reassure them that you will also provide them 30 days notice as well. If you can agree on something,
This is what you do:
- Get their full name and contact number, and write down the vehicle licence plate, model and colour. Parking will only apply to that vehicle.
- Make sure to provide them with further contact information for you as well.
- You CAN formulate a contract, but in reality, you have full access to do whatever you want to their vehicle (not that you would) and as well, they know where you live. So it’s not likely that anyone would dare break the verbal contract (at least write up a quick draft with details of expectations/rules that you both sign and both have a copy of).
- If you don’t own your property, the legalities of “subletting a parking space” to a stranger by a tenant may be a concern to your landlord if they KNOW. Keep that in mind. Key part of that statement: if they know.
- Take cash or cheques, either post-dated or arrange for personal or mailbox drop-off for the first weekday of every month.
In total, you may invest approximately:
- 20-60 minutes scouting out your neighborhood for possible clients, and finding the “smoking zones/areas”.
- 20-30 minutes creating the flyer which you can email to yourself and print at school if you do not have a printer (using a highlighter/marker afterwards on the flyer will improve it’s potential to be looked at).
- 15-30 minutes meeting with potential clients.
- 15-45 minutes drafting up a document that you both sign.
- $1-$2 in printing.
That’s a total of 1.5-2.5 hours of your time. And for a value of, for example: $12/hour, that’s only $18- $30 of your time which you will be sure to get back with your first month’s rent of the parking space.