Parking - cost or money-making opportunity?

Most people think of parking, especially urban parking, as expensive. Depending on the zone where you park your car, you can find hourly rates of 200, 300, 450 and 600 HUF in Budapest, but in Győr the hourly rates are between 200 and 520 HUF, and in Szeged between 150 and 600 HUF. In the centre of Budapest, there are closed car parks where the hourly rate can be as high as 850 HUF, and a daily parking ticket can cost up to 10 000 HUF. About it in our previous articlewhat other costs parking may have.

If you own your own parking space, you can of course avoid the cost, but you don't typically have your own parking space everywhere you travel, and you often do have parking close to home. What about your own parking space?

What about the lost revenue?

According to one study, Hungarian commuters spend on average almost 10 hours at work, and those who drive spend the same amount of time away from home. If you live in a place where you have to pay for parking on the street and your parking space is empty for 10 hours every weekday, you are missing out on a considerable amount of revenue in a month. Calculate 20 working days a month. Let's assume that the safety zone for your journey to and from work is 1-1 hour. Then you could use your parking space 8 hours every weekday. Let's calculate different scenarios. If you live in a 200 Ft zone, you could potentially rent your parking space there for 20×8×200 Ft for 8 hours on 20 working days. That's 32 000 HUF per month. If you live in the 300 Ft zone, that's 48 000 Ft, if you live in the 450 Ft zone, that's 72 000 Ft, and if you live in the 600 Ft zone, that's 96 000 Ft per month of potentially unearned income.

Of course, the calculation can be fine-tuned. If you don't live in a very busy area, you will probably have a lower occupancy rate than 100%. But there are situations where you travel for days and drive your own car, in which case the 10 hours per day of under-utilisation is immediately changed to 24 hours per day.

But how can I make an income from my parking space?

With YourParking's smart parking blocker, you can do just that. The owner can rent out the device for parking using the YourParking app. Those who download the app can see on a map the free spaces near them equipped with YourParking smart parking sensors and can also use the app to book, park and pay for their parking via their mobile phone. Users can pre-book parking time, plan their parking and make sure that a parking space will be available when they arrive. Without having to search for a parking space, they can swipe their available device in a few seconds and start parking.

All the parking space owner has to do is specify how long the parking space is free and the system will work automatically from then on, with the help of the app. The parking user can use the app to open and close the parking space. A notification is sent to the phone before the parking time expires, and a short grace period is available to leave after the parking time has expired. Once the grace period has expired, a significantly higher hourly parking fee will ensure that the parking space renter can reclaim his/her parking space.