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What is the Fair Pricing Policy?

What is the Fair Pricing Policy?

YourParkingSpace Fair Pricing Policy is a set of guidelines provided to all Space Owners associated with the YourParkingSpace platform. 

These requirements dictate the parameters of price set on locations that are available to book via the YourParkingSpace platform. 

By listing your space with YourParkingSpace, you are agreeing to adhere to these pricing guidelines throughout your time with us as a Space Owner. 

Failure to adhere to these regulations may result in penalties and/or your space being removed from the platform. 

Static Pricing 

Upon listing your space on the YourParkingSpace platform, you will have the option to choose the static pricing option. This gives you the Space Owner the ability to set your own pricing. 

YourParkingSpace regularly monitors the prices of parking spaces on our platform. Both at the time of listing, and throughout the time a space is listed. 

To ensure that a fair price is stated, we will compare prices with other spaces within a 0.5 radius of your location. If we see pricing practises that harm drivers' trust, YourParkingSpace has the right to

  • Reprice listings
  • Remove the listing 
  • Suspend Space Owner privileges 
  • In serious or repeat cases, terminate the account

Pricing practices that harm driver trust include, but are not limited to:

  • Setting a price on a listing that misleads drivers
  • Setting a prices on a listing that is not honoured for a confirmed booking
  • Setting a price per hour, day or month that is more than 10% higher than the average booked price of spaces within a 0.5 mile radius on the YourParkingSpace platform 
  • Charging an additional amount on arrival outside of the listed price, or additional fees outlines in the description of the listing before the booking is placed

Dynamic Pricing 

Selecting the dynamic pricing option allows YourParkingSpace to set the price for your location. 

YourParkingSpace will use available data to select a fair and competitive price. 

YourParkingSpace will take into account the supply and demand of parking on the YourParkingSpace platform to achieve a listing price. 

By selecting ‘Dynamic Pricing’ on a listing, the Space Owner agrees to accept all bookings as advertised and confirmed to them. YourParkingSpace is not required to have a Space Owner confirm the advertised price at any time as this is set dynamically.

If a Space Owner requests to cancel a confirmed booking as a result of price, this will be considered a pricing practice on YourParkingSpace that harms Driver’s trust, whereby YourParkingSpace will be entitled to remove the listing, suspend Space Owner privileges, or, in serious or repeated cases, terminate the account.

End of policy.

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