We all know how Airbnb works. You own a property and can list it on the Airbnb website to rent it out to prospective travelers. But how about parking spaces? There are reports that a single parking space in cities like New York City can cost upwards of $1 million dollars!
Enter entrepreneur, Craig McDonald. The idea came to McDonald when he left his native Scotland to Dubai, where his parents lived, and saw that many of his friends were complaining about parking in densely populated areas. In many of the high-rises, he noticed that married families and roommates had to share 1 parking spot. To address the issue, he launched Yalla Parking. Like Airbnb, the company will take a percentage cut when someone rents a parking space. The company’s website is still in the soft launch phase, with spaces available in Dubai only at the present time.
What are your thoughts on the idea of renting out your parking space?