Homeowners Get Creative With Unused Parking Spots.
Did you know that in the United States, there are more parking spots than cars? Hard to believe right? Because it seems that everywhere we go we always scramble and struggle to find a parking spot, but it’s true whether you believe it or not.
Homeowners and renters with unused parking spots are getting creative with how to take advantage of them. According to the University of California Transportation Center, estimates range from 3.4 to 8 spaces per vehicle.
There was another study in 2016 from the Center for Neighborhood Technology, looked at parking garages of 40 Chicago apartment buildings and found that one-third of parking spots were unused and empty.
A couple from Portland rented out their home and ended up living with their friends and family for a year and a half. They needed somewhere to live, but still had tenants living in their Portland home. One day, they realized that their tenants don’t use the garage, what the Portland couple decided to do was to lower the tenants rent and convert the vacant garage into a home for themselves! They now have a home that someone rents and pays for their mortgage while they live in the garage.
Another creative way that people are taking advantage of unused parking spots is that owners are now renting out their parking spaces to people who need them. There is an app like SpotHero that can connect spot owners with people who want to rent spaces out. This is especially common for major cities like New York and Chicago. This is a great way to earn extra money every month.
Unfortunately, condos and apartment complexes are cracking down on this and some are starting to now allow residents to rent out their parking spots to people who don’t live in the building. This depends on if it’s a parking garage or a detached garage certain areas or parking spots have different regulations.