ParkUpp is a platform that helps property owners and residents generate extra income on their unused parking bays.
Photo: ParkUpp
ParkUpp is a platform that helps property owners and residents generate extra income on their unused parking bays. Photo: ParkUpp

WATCH: This app helps property owners and residents generate extra income

By BR Correspondent Time of article published Jan 20, 2020

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DURBAN - ParkUpp is a platform that helps property owners and residents generate extra income on their unused parking bays.

ParkUpp has over 4500 listings on the platform, predominantly in Johannesburg and Cape Town. Including The Union Castle building owned by Izandla Properties, Design Quarter on William Nicol Dr, along with other commercial and residential parking facilities.

It has also been awarded some accolades from property industry incumbents such as the Women’s Property Network (WPN) for Young Achiever’s category and South African Institute of Black Property Professionals (SAIBPP) for Disruptor of the Year.

This award-winning platform not only creates extra income from empty parking spaces, but it also decreases drivers’ anxiety of parking in unsafe space and also saves them a buck. In the Cape Town CBD, with over 45 percent cars parked on-street: paying an average of R18/hour, amounting to R2880 a month, ParkUpp users are able to save up to 50 percent by renting out a parking for R1500.

The shoestring budget startup has identified some key areas that are in desperate need of parking.

Michael Savides the co-founder of ParkUpp said, "Homeowners or businesses often get frustrated when they find someone illegally parked in their bay. Instead of being frustrated, list your parking during the times it is unused. No one really wants to knock on someone’s door to ask for parking so our platform is removing that uncomfortable feeling. We are also a marketing platform, the more listings we have, the greater the chances of increasing our occupancy rate. It might seem slow in the beginning, but one never knows when people need parking and for what purpose". 

"The listing doesn’t cost the property owner anything, so really, there is nothing to lose. Put it up on the platform, let people decide - you might be surprised," added Savvides.

BUSINESS REPORT ONLINE

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