Markets in Everything: Rent Out Your Driveway II
Last July, I had a CD post about ParkAtMyHouse.com, a U.K. company which "enables property-owners to rent out their empty driveways and garages to drivers needing somewhere to park."After its success in London and the U.K., the company recently launched its service in the U.S.:
Press Release: ParkatmyHouse.com, a successful British-based website designed to connect drivers with open parking spaces, announced today that it will launch the service in the United States. The site is run by Anthony Eskinazi, a 24-year old entrepreneur from London, England (pictured above), whose modern innovation has changed the way people find parking.
By connecting people who want to rent out or sell their under utilized parking spaces with those who are looking for convenient and cheap parking, ParkatmyHouse.com offers a modern, high tech response to what is typically thought of as a low tech challenge.
From an email I received from Anthony: "With the credit crunch hitting hard at this moment in time, we feel that for those who live in areas where the demand for parking is high, our service will offer homeowners a great opportunity to make an additional income from their property."
5 Comments:
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In my old neighborhood , you could get $100/month to rent out your spot .... recently , people would go to Craig's List for garage rentals , but this is a great idea..... "necessity is the mother of invention" lives
Interesting that he mentioned the credit crunch causing people to need more income. He forgot to mention income inequity, fair trade and global warming.
Personally, I would think extra income is welcome regardless of the credit situation.
Seriously though, this is a great example of technology allowing an increase in information that frees up captial. Ain't the free market grand? If this becomes popular and succesful, how long do you think it will take for state governments to figure out a way to tax this, maybe through increased property values, or maybe they will have zoning issues with this.
Why is there a lack of public parking in the first place?
Many city officials have in recent years discouraged the development of underground parking facilities and introduced measure such as congestion charges to try to discourage people from driving cars in the city.
Anthony demonstrates the power of the market to innovate to serve the needs of the customer much to the chagrin of municipal officials and politicians.
What is clear is that most public transit services do not adequately serve the need for privacy, comfort, timely service, and ease of transporting goods such as groceries. Despite heavily subsidized fairs, commuters can still get to their destinations faster and more conveniently by car.
Unless innovations in urban transit addresses the needs of customers, the car will continue to dominate our cities.
Good point. Why is it that the things we need government to do the most (fire, police, adequate roads and parking) are the things they seem to do the least? I know why, but it is frustrating. Maybe Saint Obama can change the way we do things. He give me Hope. For the Future . . .
Marko,
Not sure if you are pulling my leg.
I would have more confidence in Senator Obama if he was not holding up the appointments to the Federal Elections Commission. Without a quorum, the FEC cannot make any rulings which is bad news for his opponent, John McCain.
See: Obama's Finance Ploy
http://online.wsj.com/article/SB120389958925789389.html?mod=opinion_main_review_and_outlooks
Watch the rhetorical slight of hand. We had that in Canada with Pierre Trudeau. Moonlight & magnolias is no recipe for a great leader or good government.
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