Innovation That Matters

Online exchange for parking spaces

Mobility & Transport is an online marketplace for parking spaces, enabling drivers to search for and book spaces before they leave home, and letting British homeowners monetize unused parking spaces by adding them to the Peasy network. To rent out a parking space, the owner needs to register and enter all relevant details, including price, when the space is available, and whether it will be rented out daily, weekly, or both. Those who require parking can then search for suitable parking spaces and securely book them online, or first negotiate a better price. To protect the privacy of owners, searchers can’t view exact addresses. Instead, they’re given the street the space is on, as well as its postcode and location on a map. Once booked, the renter is provided with the exact address. If booking on a weekly basis, renters are also given the owner’s contact details, enabling them to introduce themselves and arrange for collection of keys or remote controls if required. Any off-street parking spaces can be rented out: driveways, garages and secure allocated spaces. Peasy estimates most people will earn GBP 10-30 a week, for an extra stream of income of GBP 500-1,500 per year. In prime locations, spaces can go for as much as GBP 3,000 per year. Listing a parking space is free, and Peasy takes a commission fee of 12% for each rental transaction. We wrote about a similar initiative last year: in the United States, SpotScout was about to launch a mobile exchange for parking spaces. SpotScout still hasn’t officially launched. It plans to begin operating in Boston, New York and San Francisco very soon, and has a database of more than 1 million people who are interested joining up once the service goes live. With no end in sight to the scarcity of urban parking spaces, and consumers increasingly accustomed to using online marketplaces to rent or buy whatever they need, we still see the concept going places. Spotted by: CMC
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