CurbFlip helps you rent out your parking space, garage or driveway
Expected pay: You set it
Commissions & fees:5%
Where: Many major cities
Requirements: parking, 18 or older, and an email address
What is CurbFlip?
CurbFlip is a parking marketplace that lets people with property rent out their land for parking by the hour, day or month.
The site wants to help you monetize the empty space in your driveway or garage, by allowing you to rent it out to strangers as paid parking. This can be lucrative, if you live near entertainment venues, airports or lakes (you can rent space for boats and RVs, as well as cars).
How it works
The site lets you list your space for free; decide whether you want to rent this space by the hour, day, week or month, or all of the above; and set the price.
CurbFlip connects potential renters and space-owners via email. When a rental is acceptable to you, as the space owner, you accept it. CurbFlip will collect the money from the renter and deduct a site commission before the pay is remitted to you.
But this site does not have a set cancellation policy for either renters of your space or you. If you want to levy a cancellation fee when renters don’t show up, the site encourages you to make that policy clear.
Commissions and fees
There is no cost to list. But the site takes a 5% commission when you rent out your space. You’ll also may need to pay Paypal fees to get money transferred to your bank account.
Location is everything
We found no negative reviews of the service, which leads us to believe this is easy money if you live in the right location — a crowded urban area; near a beach or airport or anywhere else where parking is challenging. However renting your parking space is less likely when you live in a suburban area, where parking isn’t a problem.
A final caution: Whenever you rent out any portion of your home or property, you should have a discussion with your property insurer to make sure you would be covered for any legal liability in the off-chance that someone tripped or slipped, fell and sued. Most personal insurance policies exclude “commercial” liability, but will issue a rider on a personal policy to cover this risk.
Want to sign up with CurbFlip? You can find them here.
But there are plenty of other sites willing to rent out your land and they’re not exclusive — meaning you can sign up with several at the same time. So, if you want to keep your space rented, also check out Neighbor and Pavemint.