Written by: The Spacer Technologies content team is a dedicated group of writers and experts with a deep-rooted passion for the sharing economy.
Edited by: Zarah Mae Torrazo is the Head of Content at Spacer Technologies, where she leads content creation for Parkhound, Spacer.com, Spacer.com.au, and WhereiPark.
With nearly a decade of experience in digital content, Zarah specializes in crafting engaging, SEO-optimized writing that bridges both B2B and B2C audiences. Her work spans a wide range of industries from real estate and finance to mobility, health, and tech, with a focus on turning complex ideas into clear, actionable insights.
At WhereiPark, Zarah writes extensively about multifamily property management, urban mobility trends, and the monetization of underused assets like parking. She’s particularly passionate about the sharing economy and its power to reshape how people and businesses access space, transport, and opportunity.
Reading time: 1 mins
Subject: How you can increase the value of your property via parking!
Property owners and managers are always looking for affordable ways to increase the value of their property. Often, a simple paint job or a minor cosmetic renovation is what property owners/managers opt for. However, what if we told you that there’s another sure-fire way to create value.
Parking. Yes, parking spaces.
Parking spaces are a highly underutilized asset that can be converted into a steady ancillary revenue stream for property owners.
WhereiPark offers a simple solution for property owners looking to do this. List your space on WhereiPark’s platform and we do the rest. Property owners don’t have to pay to list it on the site, nor do they have to deal with any administrative tasks, payment processing, or managing of deposits – WhereiPark does it all on the owner’s behalf. In addition, WhereiPark also conducts background checks on prospective parkers to give property owners a peace of mind before letting just anyone onto their property.
Take a look at this multifamily apartment example or this hotel example, the numbers speak for themselves! Below is the multifamily example:
Let’s break this case down. WhereiPark was able to rent out 52 spaces and generate monthly NOI of $7,020 for the property (this based on the rates as the time this case study was created and is after removing WhereiPark’s performance based commission). Multiply the monthly NOI of $7,020 by 12 months which brings us to the New Annualized NOI of $84,820. Based on a cap rate of 4.5% and with an annualized NOI of $84,820, the INCREASE in asset value is $84,820 divided by 4.5%, which is an increa
The Spacer Technologies content team is a dedicated group of writers and experts with a deep-rooted passion for the sharing economy.
The Spacer Technologies content team is a dedicated group of writers and experts with a deep-rooted passion for the sharing economy.
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