How Sharing Economy Is Solving the Problem of Parking

July 1, 2017 | Author: | Posted in Business

At any given point in time, one of every four cars driving around across the world is searching for a parking space. In Chicago, as an example, around 30% of cars on the road are seeking for parking spaces. Vehicle owners have gotten so fed up that they have reluctantly accepted to pay much higher prices than normal to get a parking space for rent, and then too they are unable to find the parking space.

Parking space issues have become sort of age old problem, but no one has ever come up with an effective idea to solve it, until recently someone created the concept of using the sharing economy to eliminate parking issues.

The sharing economy is a system where individuals contribute services or assets amongst one another through the concept of sharing, for a certain fee, and typically through the Internet, an application, or through a platform. It is very clear that this amalgamation of the internet and economy is fetching enormous amounts of money to its participants. Individuals are beginning to realize that the sharing economy is a socially progressive and socioeconomic notion to address a huge variety of concerns. Participants of the sharing economy employ trendiness, technological sophistication, and innovation to make a change in the society.

The idea of renting unused parking space to needy people through apps and the internet is indeed beneficial for both vehicle owners and to people looking to make some money from the unused space. Through these apps people can easily find overnight parking Chicago space in just a few clicks.

Considering the parking problem in Chicago as an opportunity, Parqex launched its application and platform in 2014. Parqex allows owners of parking spaces to make earnings by renting out their unused parking spaces, and allows those who do not want to overpay for parking to purchase spots hourly, daily, weekly, or monthly at their discression.

The renting process on Parqex is fairly simple and quick. All that the renter needs to do is enter the address of the parking spot, upload a picture of the space, mention the availability time, and then set the charges. From there, people who are looking for parking spaces will find their space on Parqex’s platform and will make a booking if it suits their requirement.

Parqex’s system allows people to rent out their parking spots to the people throughout Chicagoland. As they offer hourly, daily and weekly rates at Parqex, you can book for monthly parking Chicago as well.

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