Capetonians looking to cash in on their empty parking bays can expect to make between R800 and R1,500 per month in the CBD. That’s Thank to Rent My Bay, a website that connects parking lot seekers with vacant parking bays all around the mother city.
According to Business Insider SA, Rent My Bay launched in March, after Craig Murray spotted an opportunity from his 13th floor apartment in the CBD, with its notorious parking problems, in 2017.
I noticed how the parking was being severely under-utilised with bays that stood empty either during office hours or overnight,” said Murray. “Many people live in the city centre but leave during office hours to work, leaving their parking space empty during peak periods, said Murray.
Capetonians looking to cash in on their empty parking bays can expect to make between R800 and R1,500 per month in the CBD – while those renting save on the just under R3,000 they would pay to park on the street during office hours.
The most expensive bay currently listed on Rent My Bay is in Green Market Square, at R1,550 for a single or R2,300 per month for a tandem bay (two bays, where one can only be accessed when the other is empty).
More: Business Insider SA