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How much should I charge when renting out my parking space?

When leasing on YourParkingSpace, you have a choice of two pricing structures:

1. Dynamic Pricing: Allows the YourParkingSpace smart pricing algorithm to vary the price of your parking space to reflect changing market demands, maximising your earning potential.
2. Static Pricing: Allows the Space Owner to select a rental price for their parking space that will be marketed at the same price no matter when the booking is made or when the booking is for.

   Whilst we allow Owners to set their own price, the price must be inline with our Fair Pricing Policy. 

   If you are unsure how much to charge, we would advise you to look at nearby listings on our platform with reviews and consider pricing your space competitively against these.

If you're new to the YourParkingSpace platform, Dynamic Pricing is recommended to begin with. This gives your listing the best chance to get bookings and ultimately attract some great reviews. Once you build up a good reputation through your reviews, you can start to price your listing accordingly. 

 

How do I set my base price?

When creating a new listing, you'll eventually get to the Rental Type & Pricing step:

1. Select whether you'd like to receive Monthly and/or Hourly/Daily bookings
2. Next choose whether you'd like static or dynamic pricing
3. If you've chosen static pricing, input your pricing structure

I want to change my base price

You are able to change the price of your listing at any time from your account:

1. Login to your account here
2. Click ‘Manage Listing' on the listing you want to adjust the price on
3. Scroll to Step 2 and click 'Change' next to Rental Type & Pricing
4. You will need to hit 'Next' to get passed 'Rental Type'.
5. When you land on 'Pricing Model', make sure you've selected 'Static Pricing' 
6. Set your price and hit Save!

I want to change my rental price for specific dates/times (seasonal and event-based pricing) 

If you want to change your price on a specific day you can do so via your Availability Calendar. We refer to this as granular pricing. It is important to note you cannot set a specific price at specific times, only for specific days.

1. Login to your account here
2. Click ‘Manage Listing' on the listing you want to adjust the price on
3. Scroll to Step 2 and click 'Change' next to Availability Calendar
4. Click on the day you wish to change the price on, or click and drag to select multiple days in a row (like a week or weekend)
5. In the right hand side pop up box titled Custom Availability, Access Times & Prices, scroll down to find the hourly and daily price boxes 
6. Adjust the price and click 'Save changes'

❗️Important: You can't change the price of a single month, to change your monthly price, you will have to change the base price of your listing (see above).

 

I want to change the monthly price of my listing, but I have a booking

Basically, you're needing to issue a rental increase to your existing tenant - we can do this! Any price increases require you to provide the driver with 30 days' notice which we do on your behalf. Simply contact our support team here and we'll help.

 

When will I receive my earning payments?

You will receive your rental payments on the 1st working day of the month. For more details on payment, click here.

 

Does YourParkingSpace take a cut of my rental price?

3% Processing Fee on Earnings
A 3% processing fee is applied to Space Owner earnings, deducted on a monthly basis. This fee is allocated to cover the expenses associated with maintaining and improving our services.

20% Commission Uplift
We apply a fee on top of your rental price, with the fee being transferred to the Driver. This commission uplift constitutes 20% of the total price paid.