138 innovations

marketplace for long-term parking

We've written on several occasions already about online exchanges for parking spots on both sides of the Atlantic. But while most of those have focused primarily on short-term parking needs, a new one serving Canada and the US serves as a virtual marketplace for long-term parking.Parkingspots.com connects those who have parking spots to rent out with those who need them on a monthly basis. Launched earlier this year, the Toronto-based company gives spot holders a way to list their off-street spots, along with the price they want to charge. Powered by Google Maps, spot seekers, meanwhile, can see what's available and choose one based on location and price. Exact addresses are kept confidential until a match is made. Once that happens, renters and owners negotiate directly to set a final price and arrange for payment; commercial transactions are handled through PayPal. The service is free for both renters and owners with just one or two spots to rent; commercial lot owners with more than two spots at a single location must pay a one-time listing fee equivalent to roughly a month's rent. Parkingspots.com currently serves a limited number of cities in North America, but judging by the rapid spread of this concept already, expansion can't be far away. One to bring to a concrete jungle near you!

Source: springwise.comAdded: 19 May 2008