Increased affordability and reduction in prices, has caused an increase in the number of cars. Most elite families nowadays own at least two cars. This has led to a problem of inadequate parking spaces. Parking lots owned by companies charge exorbitant rentals for their space. This has led to private individuals renting out their unused parking spaces.
These spaces may be rented for a day, a week or a month. Spaces sought for this purpose may be an open parking lot or a secure garage.
Some popular locations where people seek space to park a car are:
- Near a tube station
- Near a railway station
- Close to an airport
- Visiting a new place where they might need to park overnight
- Close to an event venue such as a sporting event or a concert
- Parking in residential areas
- Close to shopping areas
It is a convenient option when one uses the tube on a regular basis. If they rent a parking close to the station, they can drive up to the station while going to work and drive back home from the station on return.
This type of space is sought when one commutes frequently by a train. They can drive up to the station and can conveniently drive home on return.
When one is residing far from an airport, he/ she will have to incur high expenses in commuting to the airport. Therefore, a parking space close to an airport works out as a convenient option. Many owners of such spaces even provide shuttle service for commuting to the airport.
When a person or a group is visiting a new place and need to stay overnight, it is beneficial to book a space to park the car in advance. This is because parking in an unknown place might be quite a challenge.
When one is driving to an event venue, finding an appropriate parking can be quite a nightmare. In such cases, the solution lies in booking a parking space prior to the event.
There are stringent parking rules in residential areas. This makes it difficult to find a parking. Therefore, renting a space for parking provides some solace.
Most shopping malls have their own parking spaces. But, they tend to get full and customers are left stranded. They waste a lot of time looking for a parking close-by. In such cases renting a parking space nearby helps them save valuable time.
Hence, we can see that there are many cases where renting a private parking space helps in solving parking problems to a large extent. This arrangement is beneficial for both, the owner and the tenant. The owner because he can earn from his space. The tenant because private parking spaces are less expensive than those owned by professionally managed firms. It also saves their time and effort in looking for one.
In conclusion, we can say that when one rents a parking space, he is buying “peace of mind”.