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What is ParqEx?
Cars are becoming a necessity in today’s rising economies and easy to afford for all middle class people. But one quirk comes with owning a car, and that is finding a place to park it every time you go around in your vehicle. ParqEx was a pioneer and created a new market when it offered private parking spaces for rental purposes. It was a great relief to everyday commuters who used to drive a car, and this great idea was very soon developed into a product and accepted by large numbers.
ParqEx has found creative solutions for most parking related problems and created a new revenue stream for parking space owners to earn money by renting their vacant spaces. This unique idea was marketed in the right way to achieve the best possible results for consumers.
How does ParqEx work?
ParqEx is an app that helps to “unlock” the value of privately-owned parking spaces, which are often underused and/or challenging to manage. ParqEx Marketplace allows owners to efficiently rent their parking lot to drivers by hours, days, weeks, or months.
For secured parking spaces behind gates or garage doors, Access + is a technology solution that enables owners or managers to grant controlled access through the ParqEx app’s convenience.
What are the requirements to list ParqEx?
- You must be over 18 years old
- Have a smartphone with Android or Apple operating system
- Have a legal right to a parking space.
How do you earn money on ParqEx?
You can list your parking spot in the ParqEx app, available in Chicago, Boston, San Francisco, and other cities where parking is at a premium. ParqEx charges a 15% commission and deposits your earnings into your bank account each week.
How much money can you make on ParqEx?
Average monthly rental rates are $285 to $325 for a single space, weekly rates are $75 to $90, and hourly rates range from $2.25 to $4 depending on your location.
Pros of listing on ParqEx
- You can earn extra money for the period that you will not be using your parking area.
- Parking space owners have the option of choosing who they want to rent their space to.
- Parqex has a neat tool (Access +) that facilitates the rental of your packing space.
- Earnings paid by check, PayPal, Chase Quickpay, Google Wallet, or direct deposit to your bank account.
- You choose when parking space is available for rent.
Cons of listing on ParqEx
- Earning potential depends on location.
- Expenses like taxes, insurance, and maintenance will likely cost several hundred dollars a year.
- Since the market for parking spaces has not developed to the extent of other real estate investments; it may not gain value.
How do I sign up to list onParqEx?
People who want to put their parking space for rent would have to follow a specific process in ParqEx.
You can list your spot on the app by creating a spot profile, and then you will have to enter the current address of the parking spot by choosing the current location shown on the interactive map of the app or adding it manually.
What is the website for ParqEx?
Does ParqEx have an app?
ParqEx has free apps for iOS and Android devices.
ParqEx is one of our favorite parking apps. For starters, they only charge a 15% commission. (However, they pay by check). You can set hourly, daily or monthly terms for your parking space.
By using the Internet of Things, renters can even use the app to access your garage (provided it has the appropriate type of locks). This is very convenient because you won’t have to wait for them before rushing out to work.
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