What: Pavement lets you rent out your driveway, garage or parking space when you’re not using it
Expected pay: varies by location
Husl$core: $$$$
Commissions & Fees: 12.5%
Requirements: Be over the age of 18; have an iPhone and the legal right to rent out your parking area
Where: Theoretically nationwide, however, the service started in Los Angeles and appears to have most of its customers there.
Review: Like CurbFlip, Pavemint lets you rent out your parking space, garage or driveway to people looking for parking. However, Pavemint charges less for their services than CurbFlip — just 12.5% of your rental price, which includes the bank processing, vs. CurbFlip’s 19%.
On the other hand, where CurbFlip doesn’t appear to penalize hosts when they have to cancel a parking reservation, Pavemint imposes cancellation fees on hosts who back out of a rental agreement — even well in advance. The exact amount of the fee depends on the value of the reservation and the amount of advance notice. However, it can amount to the entire rental amount or as much as $25 for short notice. Since you can set up automatic bookings on the site, the cancellation policy is something to be aware of. Never agree to a reservation unless you’re sure.
Additionally, Pavemint (like CurbFlip) provides no commercial liability insurance, so make sure you talk to your own insurance agent to set up coverage for the slight chance that someone is injured while renting your property.
If you’re interested in renting out your parking space, you may also want to sign up at CurbFlip.
