What: ParqEx will help you rent your garage, driveway or parking space for pay

Expected pay: varies by location

Husl$core: $$$

Commissions & fees: 15%

Where: Illinois (downtown Chicago and near sports stadiums), Milwaukee, Madison, Boston, Washington, D.C., San Francisco, Los Angeles, Miami and Philadelphia

Requirements: Smart phone with Adroid or Apple operating system; a legal right to a parking spot 

Review:

ParqEx is one of a handful of smart phone applications that help people rent out their parking spaces or driveways. It is not available everywhere, however. This app appears to be well-established in Chicago, Milwaukee and Madison, Wisconsin, but has sparse coverage in all the other cities where it operates.

We found no difference in costs for renting a spot for a day vs. a few hours, which may indicate a shortcoming in the software, which should give space owners the ability to charge less for short periods. 

ParqEx imposes a penalty if hosts cancel a parking reservation. However, ParqEx’s “penalties and consequences” are not clearly defined.  In its terms and conditions, the site says “you will be notified of the situations in which a cancellation fee applies before you decide to cancel.”

The possible penalties ranged from public shaming — publishing an automated review saying you cancelled a reservation –to a whopping $50 fine. In all cases, however, the host would end up paying ParqEx’s lost commission of 15% of the rental amount.

On the bright side, ParqEx promises to pay you for rentals almost immediately by either Chase QuickPay, direct deposit or PayPal. (If you use PayPal, you’ll also be subject to the site’s 3% fee.)

ParqEx’ cancellation policy creates uncertainty and could result in an unexpected expense, As a result, we rate ParqEx less highly than the other two parking apps reviewed on SideHusl — CurbFlip and Pavemint, which we believe are both above-average opportunities.