Renting out a spare parking space in a dense neighborhood
I turned an unused parking spot near a hospital into steady monthly income by listing it on a peer-to-peer parking marketplace.
How it works
Cities with hospitals, universities or transit hubs have chronic parking shortages. If you own or control a spot within a 10-minute walk of one, monthly renters will pay a predictable amount to guarantee access. The marketplace handles payment; you hand over a key or fob.
Step by step
- 1Confirm the spot is legally yours to sublet and check HOA or lease rules.
- 2List on 2-3 marketplaces (JustPark, SpotHero, local Facebook groups).
- 3Price 10-15% below the nearest paid garage.
- 4Filter for monthly renters, not hourly, to reduce churn.
- 5Automate rent collection and keep a spare fob for handovers.
Discussion
Curious how you handle insurance. Renter dents your wall — who pays?
The marketplace has $1M liability included. I've never had to use it in 14 months.
Works in my town too. Hospital shift workers are the ideal tenant — quiet, predictable.
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