What: An online platform and mobile app enabling vehicle owners and parking space holders to connect, reserve and utilize parking space from one another
Expected pay: Varies by location
Commissions & Fees: 12.5%
Where: Theoretically nationwide, however, the service started in Los Angeles and appears to have most of its customers there.
Requirements: Be over the age of 18; have an iPhone and the legal right to rent out your parking area
Review:
PROS:
- Charges less for their services than CurbFlip; 12.5% of your rental price vs. CurbFlip’s 19%
- You can set up automatic bookings on the site
- The site and app have “smart” suggestions: “based on the meter and lot rates in your area, parking supply and walkability, Pavemint’s Smart Pricing Algorithm helps you determine what your space is worth.”
- You can message “guests” directly
CONS:
- Pavemint imposes cancellation fees on hosts
- The amount of the fee depends on the value of the reservation and the amount of advance notice. It can be the entire rental amount or $25 for short notice.
- Pavemint (like CurbFlip) provides no commercial liability insurance
If you’re interested in renting out your parking space, you may also want to sign up at CurbFlip.
