Wheels24

New app finds parking for you

2012-09-25 12:36

Tired of constantly circling to find a parking spot? Wish you could be told about nearby parking places that you could reserve? Well, there's an app for that...

Parking Panda is a reservation service which allows drivers to find and book parking spots directly through their smartphone. It also lets those with empty domestic driveways earn extra cash by renting the space.

OCCUPY VACANT SPACES

Nick Miller, co-founder and CEO of the Baltimore-based company in the US, said: "We do everything from the driveway behind your house to school and church car parks, all the way up to 10-story commercial garages."

Miller says the app displays nearby spots which can be reserved and paid for instantly. Daily rates are about 15 to 20% cheaper than alternative parking. The company has also helped schools and churches rent their unused parking for local events.

EARN EXTRA CASH

"The Preakness horse races is one of the biggest horse races in the world and we helped a school sell its parking. We made $5000 (the equivalent of about R41 000) for the school in a day," Miller said. The US-based company collects a fee of 15 to 20% for each transaction.

The company also plans to release tools and analytics for commercial car parks and garages that will help them set pricing, in a similar way to how hotel rooms or airline tickets are priced.

See how it works:

Reuters