Reserve your parking space

UK drivers will be happy with this new business idea reported by Springwise, one of the greatest sources for new stuff from across the globe. Peasy.com has come up with an idea to let drivers connect with each other and reserve a parking spot for them before even leaving home. It's a great way for residents of high traffic areas to monetize their unused parking space by adding themselves to the Peasy network. How it works is that owners of parking spaces register with Peasy with all the details regarding their parking space, such as the available times, rental periods for daily or weekly basis and the price. Drivers looking for parking, search and reserve spaces online. At the time of renting, only the street address is given, but once the transaction is complete, the full address is revealed.

Any off-street parking spaces can be rented out: driveways, garages and secure allocated spaces. Peasy estimates most people will earn GBP 10-30 a week, for an extra stream of income of GBP 500-1,500 per year. In prime locations, spaces can go for as much as GBP 3,000 per year. Listing a parking space is free, and Peasy takes a commission fee of 12% for each rental transaction.

In the US, a similar concept called SpotScout was to launch but has been delayed. The company will be starting out in Boston, New York and San Francisco quite soon and already has a huge database of people wanting to use the service.