Do you have an empty parking space at your house or somewhere else? If so, there’s a site called SpotHero that claims you can earn by renting out your vacant parking space.
It’s a tempting offer, so I understand if you are interested in it. However, I would recommend you read this SpotHero review first so you will know exactly what you are getting into. This review will show you what you need to know about earning from SpotHero.
That way, you can properly evaluate if this opportunity is the right fit for you or not. So let’s go ahead and take a closer look at SpotHero, shall we?
What is SpotHero, and what does it offer?
SpotHero is a parking service platform that will allow you to earn by renting out your parking space. It is indeed a legit platform since you will really be able to earn from renting out your vacant parking space/s.
But the question is, is it worth it?
The best way to find out is to understand how it works. The only way to do that is to examine the earning opportunity it offers so you will have a clear understanding of how much time and effort is needed to earn from it.
So here’s how to earn from SpotHero.
The earning opportunity – Renting out parking space
The only way to earn from SpotHero is to rent out your vacant parking space/s. Once you get accepted as an independent seller (the term they use for people who rent out parking spaces), you will be able to list the space you want to rent out.
The process is relatively simple. As you can see in the photo above, once you list your parking space, all you have to do is sit back and wait for someone to rent it. It’s a passive form of earning, and all you must do is spend a little time filling out the listing form.
This is the most important part of this earning opportunity. The rest will be automated.
During the listing process, you will be asked to indicate the availability of the space. You need to make sure to select the right option because if you still plan to use the space occasionally, then you need to pick the right option.
You can choose to set the availability to 24/7, or you can just indicate which days and times the space is available. Aside from that, you can also choose how to be billed. You can get paid by the hour, day, or even month.
You will also have to take clear photos of the space for rent so that potential clients will know what to expect. As for the pricing, unfortunately, you don’t have control over how much your parking space will cost.
That’s because SpotHero lets Your Spot Rented dictate the rate of the parking space depending on the time, day, and demand. With this in mind, you shouldn’t expect to earn the same rate from your parking space every time.
Once your listing is ready, SpotHero will review it, and if everything is in order, it will now show up on SpotHero’s app when a potential customer searches for available parking spaces. If your parking space is booked, SpotHero will be in charge of collecting the payment from the client, so you don’t have to do anything else.
In the next section, I will discuss how you will get paid.
Recommended: Check Out the Best Passive Income Apps
How do you get paid?
Every time your parking space is booked, you will earn a certain amount as determined by Your Spot Rented. Your earnings will then be reflected in your SpotHero account balance. Just keep in mind that SpotHero will deduct a certain amount from your earnings as a service fee. Unfortunately, the site doesn’t say how much the fee is. You’ll have to find out for yourself once you list your space.
This is understandable since listing your parking space is free, so the only way SpotHero can earn from you is if it takes a cut from your earnings. This is usually the case for services that don’t require any monthly subscription, in my experience.
At the end of each month, SpotHero will send your earnings according to the payment option you choose. You can choose to get paid via direct bank transfer, or you can be paid via check. Personally, I prefer getting paid via direct bank transfer since it is the most convenient option, in my opinion.
You don’t need to earn a minimum amount to receive your earnings. As long as you’ve earned something within the month, you will receive your earnings. I do have to mention that I wasn’t able to personally test the payment system of SpotHero due to the time constraint (one month is quite a long time to wait, in my opinion).
That being said, I would still say the payment system of SpotHero is relatively straightforward and convenient. I like the fact that it offers a convenient payment method like direct bank transfer. If you are interested in more sites that offer a convenient payment method, I suggest you also check out the top sites that pay via direct bank transfer.
How much money can you make?
As explained earlier, you will not be able to dictate how much you will earn from the space you rent out. Your Spot Rented is in charge of this, and they base their rates according to the time and demand of the market.
That means there will be times when you will earn more from your parking space and there will be times when you earn less. This is how their system works, so it’s quite hard to determine the actual potential of this opportunity, in my opinion.
One thing I can say, though, is that if your parking space is located in a prime spot (meaning it is a very busy area), chances are, you’ll earn a decent amount from this opportunity because there will be more potential clients that will book your space.
But overall, I would say the earning potential of SpotHero is not that great. The only good thing about it is that you can earn passively.
Can you use it on mobile?
SpotHero is a mobile-only platform, but as an independent seller, you don’t really have a platform you can log in to manage your parking spaces for rent. You will only receive emails about your monthly earnings.
As for SpotHero’s app, which is available for both Android and iOS users, it is only for people who want to book a parking space. After your listings are made, all transactions and correspondence will be done via email.
Who can join SpotHero?
SpotHero is only available in certain cities in the US and Canada. You can view all the locations that SpotHero is available in here.
To apply as an independent seller, you’ll have to fill out the registration form (refer to the photo above). After you’ve submitted the form, you just have to wait for SpotHero’s email. This email will provide you with the link to create your listing.
Just click the link and fill out all the required fields. As I’ve explained earlier, you need to be certain about the availability and billing structure of your parking space/s. If you need to change the availability of your parking space for rent, you’ll have to get in touch with the support team.
In the next section, I will discuss how you can do so. Once you’ve completed your listing, SpotHero will review it, and if everything is in order, it will now show up on searches and can be booked immediately.
Can you get support?
If you have any questions about the site or your account, you can check out the Independent Sellers FAQ page first. It discusses some of the basic topics you need to know. If you can’t find the answers you are looking for, then you’ll have to contact support.
If your inquiry is regarding your parking space for rent, you’ll need to get in touch with Your Spot Rented’s support department. You can do so by emailing them at [email protected].
If your issue/inquiry is not resolved by Your Spot Rented, you can contact SpotHero’s support team instead. You can email them at [email protected]. For account issues, you’ll need to direct your inquiries to SpotHero’s support department.
Overall, I would say the site does provide the minimum required support since it provides a couple of contact details you can use to ask for assistance.
SpotHero is a legit parking space rental platform that will let you earn by renting out your vacant parking space. It has a couple of decent features, but it also has some limitations you need to be aware of.
Let me wrap up this review by summarizing its pros and cons to give you an overview of what it has to offer. Then you can decide if this opportunity is right for you or not.
- Offers a passive form of earning
- Offers a convenient payment method
- No payout threshold
- Doesn’t offer guaranteed earnings
- Long wait period for receiving earnings
In my opinion, SpotHero is not for everyone. Renting out your vacant space requires a certain amount of dedication. You have to be willing not to use the space for an extended period of time because if you still plan to use it from time to time, it can cause quite a headache when clients decide to book it.
That’s why I would only suggest you go for this opportunity if the space you want to rent out is not being used at all. If you still plan to use it, then I suggest you find other ways to earn extra cash because it can be quite a hassle switching the availability of your space for rent.
Aside from that, you also have to set your expectations properly because this opportunity doesn’t offer guaranteed earnings. As explained, your space must be booked by a client for you to earn, and that’s easier said than done, in my opinion.
If you want a simpler way to earn, I suggest you check out the top survey and GPT sites in your country instead. The sites on this list all have good earning potential, so you will be able to earn a decent amount in no time.
Plus, you will definitely be able to find a site you can join regardless of where you live.
If you have any comments, questions, or have any experiences with SpotHero yourself, I would love to hear from you in a comment below.