How to turn your driveway into an income

Startup Park Circa will help you rent your parking spot

This won’t work for everyone. Not every driveway or parking spot is in a high demand location. But when you are in a high demand location looking for parking, it sure is frustrating to see all these empty private spots.

What a waste! Well if you have such a driveway, you can now rent it out by the hour, and eventually by the day, week, and month. Your away all day when you are at work. Wouldn’t it be nice to make some money from that spot? For some locations, this can really add up.

Park Circa is a brand new startup out of California. They have created the infrastructure for neighbor to neighbor, peer to peer commerce. They will be like the EBay of parking if they succeed. Anyone with a private parking spot can advertise the availability. The spot owner can pull the spot out of inventory at any time, as long as it isn’t currently rented. So any planned days off still leaves you with your spot. Also, Park Circa will take a 25% cut of the rent for managing the infrastructure and payment.

So if you price a spot at $2 per hour, four hours a day is $8, five days a week is $40, and four weeks is $160. Of course you keep only 75% of that. But still not too shabby.

The other side is also important to consider. When you do see those wasted spots when you are circling a block looking for parking, you can print out a flyer, and provide it to the land owner. As the inventory increases, we all benefit. There is even an iPhone app that can show you the closest spot to your current location. It would be nice if there were more than one location signed up in my area. It is early days, and I wish Park Circa much success.

I have asked Park Circa if they will have an affiliate program. They don’t, but it is under consideration. For now they are relying on word of mouth. Or local volunteers to spread the word. If you want to put up some flyers in your neighborhood, Park Circa can provide you with some fancy flyers.

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