"Chinatown"-Official media of Chinese Australians

Australian residents have recently found a new way to make extra money, that is, renting their idle parking spaces to drivers who are in urgent need.

Two Melbourne men founded a website called Parkhound, which helps people rent out their driveways, garages and unused parking spaces to drivers who go around looking for parking spaces.

People can register for free, and anyone can put their vacant parking spaces on this website for drivers across Australia to rent.

Parkhound claims on the Internet that renters can earn an average of 3000 Australian dollars a year, and the rental price of parking spaces is 40% to 60% cheaper than standard parking spaces in the inner city.

 

Co-founder Michael Nuciforo said that due to low rental prices, more than 30000 parking spaces have been listed for lease across Australia.

He told the Courier Post: "It is much cheaper to reserve a parking space through Parkhound than a commercial parking space. There is no pressure to make money like this."

The site will take a 10% commission from the cost of the taxi space.

In Sydney alone, there are 500 taxi spaces on Parkhound, most of which are in North Sydney and Sydney CBD.

The rent for some parking spaces on busy Pitt St is as low as $12 per day.

In Brisbane, parking spaces in the CBD are even more difficult to find. The annual rent for commercial parking spaces is $27,375, and the most expensive parking space on the Parkhound website only costs $3900 per year.

Despite the success of the website, the City of Brisbane warned that such "black market" leases are illegal.

Those caught renting out parking spaces may face fines or prosecution.

City official Krista Adams said that while family and friends are allowed to use your parking space for free, paid parking is not.

"Any commercial parking space must be subject to strict development approval and registration."

Homeowners can be fined up to A$1138 for renting out parking spaces, while merchants can be fined up to A$5692.

In Melbourne, there are about 1000 parking spaces available for rent, while parking spaces outside Myer stores in the city are only $9 a day.

The largest group of users of the site are office workers and business owners who work in the city every day.

The website provides income and subscription protection, and promises a lease term of 3 to 12 months. If there is something wrong with the reservation, a full refund will be given.

News compiled from "The Messenger Post"

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