Spacer Helps American Make Over $40,000 in Parking Side Hustle

Marketplace Reveals 1,144% Rise in Demand for Parking, Which is Helping to Boost Incomes

SAN FRANCISCO, CA / ACCESSWIRE / May 2, 2024 / Keyan Golestaneh, a 30-year-old from Boston, Massachusetts, is making over $40,000 off his spare parking space to pay off his mortgage on Spacer, which reveals today it has seen a 1,144%* rise in demand from people looking for parking in North America. The marketplace has already helped Hosts make over $5.4M through side hustles.

Kayan, who works in commercial property development, lives with his girlfriend and dog, Dewey, and makes up to $450 a month off his parking. Keyan, just one of many Americans making thousands of dollars using Spacer each year, comments:

"I bought my home a few years ago and with the cost-of-living crisis decided to rent out my parking on Spacer. Within just a couple of weeks, I got a booking, and ever since it's been rented out."

"I rent my parking by the month to a lot of young professionals who live out of state, including teachers, nurses, plus local residents. Most people rent it for several months. It works for them as it's cheaper and safer than on-street parking; they're guaranteed a parking space so it saves them time and they don't get tickets. It's so in demand I have a waiting list," continues Keyan.

The #1 marketplace for parking is part of the growing sharing economy, with a quarter (24%) of Americans making money off their spare time or underutilized assets to boost their incomes. It's predicted that globally the sharing economy will be worth 794 billion in U.S. dollars by 2031.

With the average American being $21,800 in personal debt (excluding a mortgage)*, Mike Rosenbaum, the Founder and CEO of Spacer, comments:

"We have seen an 866% growth in Americans using the platform since operations began in 2018. For anyone looking for help to pay bills, a mortgage or to save, your parking space could be a side hustle that can make a huge difference to your finances, especially in cities with insufficient parking."

For information about how to become a Host or rent a monthly parking space, visit www.spacer.com.

ENDS

_Sources:

_{https://www.pewresearch.org/internet/2016/11/17/gig-work-online-selling-and-home-sharing/}

_{https://money.com/average-american-personal-debt-amount/}

_{https://www.smartcitiesdive.com/news/a-worsening-parking-situation-is-suffocating-bostonians/584600/}

_{1,144% rise and $5.4M cost since 2018 launch of Spacer.}

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SOURCE: Spacer

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