(Screenshot of ParkatmyHouse.com)
Boston residents lucky enough to have unused parking spaces can soon turn the extra square feet into cash, as the rental service ParkatmyHouse expands into several East Coast cities.
The web-based service connects car owners looking for safe, legal, and affordable parking spaces with property owners who have unused spaces. According to a statement from the company, it has already brought in more than $5 million for homeowners in the United Kingdom, where it first launched just over five years ago.
“We're not talking about a few bucks,” Anthony Eskinazi, founder and chief executive officer for the service, said in the statement. “Property owners with decent spots can make thousands every year.”
The service is free to property owners, who enter their addresses into the system and have the option of accepting a recommended rental price or naming their own price.
Entering several Boston addresses into the site’s valuation engine today, a reporter received the notice “Your spot could be worth $5,000 a year,” though the amount was not guaranteed. Instructions direct property owners to add the address of their parking spot and their contact information so they can be notified when the company has enough spots to launch the service in that area.
Another interface allows drivers to enter their email addresses and the area where they need a spot so they can be notified when one becomes available.
The service began its expansion into the US last week with East Coast cities including Boston, New York, and Washington, D.C. The company says its goal is to connect commuters with spots near transit stations and fans with spots near music venues and sports stadiums.