Written 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.
Edited by: Louise is a content producer with over a decade of experience writing about a wide variety of topics from home improvement to academic and scientific reports, and financial literacy and cryptocurrency — but her finance and crypto content are for education purposes only and should not be taken as advice because there are licensed experts for that.Louise is enthusiastic about reinforcing financial literacy and anything that can aid people in minimising expenses and maximising savings, which led to her passion for the sharing economy.She aims to educate people by translating complex information into easy-to-digest facts and practical tips for maximum understanding and minimum migraine. Have any questions about content that you’d like to ask Louise? Drop her an email at Louise@spacer.com.
Reviewed by: Sofia Nolasco leads B2B marketing at WhereiPark, supporting real estate partners and businesses in monetizing underused parking assets. With a strong background in content and digital strategy, she helps communicate the value of flexible parking solutions to asset managers, developers, and operations teams across North America. Her work bridges the gap between property owners and drivers, with a focus on performance marketing, storytelling, and long-term partnership growth.
Reading time: 18 mins
Vacant parking can be monetized in more ways than basic leases or hourly rates. The most effective approaches use timing, access rules, and demand patterns to increase utilization while keeping operations predictable.
For most property owners, parking monetization begins with a simple idea. If there are empty spaces, rent them out. It’s a strategy that’s familiar and easy to implement, which is why it is so common.
But in reality, parking demand is rarely consistent. Parking spaces and lots fill and empty based on time of day, work schedules, events, and seasonal patterns. A single rental model does not always account for those shifts, which can leave gaps in utilization even in well-located properties.
More strategic approaches focus on how parking is used rather than whether it is used at all. By matching availability to specific demand windows and user types, owners can increase utilization without expanding inventory or adding unnecessary complexity. This is where parking monetization becomes more deliberate and more effective.
As Joshua Eisen, Chief Revenue Officer at WhereiPark, explains:
“There are unique ways to monetize parking that go beyond standard leases or hourly rates. When owners pay attention to how spaces are actually used, they can improve revenue without adding more parking or disrupting existing users.”
This article explores those approaches. It looks at less obvious, more strategic ways to monetize parking by aligning timing, access, and user demand, and explains where these models make sense across different property types.
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This guide is written for commercial property owners, asset managers, developers, and operators who control off-street parking and are responsible for its performance.
That includes parking attached to offices, multifamily buildings, mixed-use developments, retail sites, and other managed properties where underutilized spaces affect revenue and operations.
It is not intended for individual homeowners renting out a single driveway, drivers looking for street parking tips, or anyone managing public curbside parking governed by municipal rules. The focus here is on privately controlled parking assets and the decisions required to monetize them at scale.
Before introducing new parking revenue models, it helps to understand how the space is actually used. Parking monetization works best when demand patterns, operations, and expectations are clear from the start.
Parking demand varies by time of day, day of week, and season. Office and commercial sites often see higher demand during weekday business hours and lighter use in the evenings or on weekends. Event-driven locations experience short, predictable spikes tied to specific dates and times.
These patterns determine when spaces are genuinely available. A space that sits empty during evenings or weekends may support short-term, event, or contracted use, while one needed during core business hours may not. The goal is to identify consistent gaps in use and not just total capacity.
For a more indepth guide on doing your parking audit, make sure to check out our complete guide on monetizing corporate parking spaces.
Every monetization approach adds day-to-day requirements. Access control needs to support different user types and schedules. Enforcement must be consistent enough to prevent misuse. Introducing public or short-term users can also increase customer support needs when questions or issues arise.
When systems are limited or heavily manual, simpler models tend to be more sustainable. More flexible approaches work best when access, enforcement, and support processes are already in place.
Zoning rules, insurance coverage, and shared-use agreements can shape how parking is offered. Some properties have lease terms or operating agreements that limit who can use parking and when.
Stakeholder expectations also matter. Monetization is typically easier to implement when it does not interfere with existing tenants, employees, or visitors. Clear boundaries around access and timing help prevent friction that can outweigh the revenue gained.
Most parking monetization still relies on a narrow set of approaches. Usually, parking spaces are leased long term, or they are sold at an hourly rate to the public. Both can work, but both assume parking demand is stable. In most commercial properties, it is not.
Mr. Eisen points to timing as the overlooked factor.
“Parking is usually priced or allocated as if demand is constant,” he says. “In reality, demand moves dynamically. When pricing does not match local demand characteristics, spaces sit empty at the wrong times and congested at the right ones.”
The result is underutilization that often goes unnoticed. Revenue loss does not come from a lack of parking or even a lack of demand but often comes from rigid models that cannot adjust to how parking is actually used across a typical week, Mr. Eisen explained.
Parking monetization does not have to be all or nothing. Beyond long-term leases and flat hourly rates, there are models that focus on timing, access, and user mix.
These approaches allow the same spaces to generate more value without turning a property into a full-time public parking operation.
Space sharing allows the same parking spaces to serve different users at different times. The model depends on clear, recurring gaps in demand and not overlap.
This model increases utilization without expanding supply, but only when timing rules are rigid and predictable.
Contracted parking blocks allocate a fixed number of spaces to a business under a monthly or quarterly agreement. This model prioritizes certainty over flexibility.
Permit-based parking grants access rights rather than assigned spaces. Users are authorized to park within defined rules instead of specific bays. This model balance flexibility and control, but only when demand is predictable and rules are non-negotiable.
Event parking limits access to known demand spikes such as concerts, major sporting events, festivals, or seasonal retail peaks. The model is built around certainty of demand, not continuous use.
This model is effective as a controlled, short-duration operation. It fails when treated like scaled-down daily parking instead of a temporary, rules-driven setup.
How the model operates
Why this works
Operational advantages
Operational risks
Different parking monetization models perform well for different reasons. The right choice depends on how much revenue certainty is needed, how much operational effort is acceptable, and how demand behaves around the property.
| Monetization model | Revenue predictability | Operational effort | Yield per spot | Where it works best |
| Long-term leases | High | Low | Low to moderate | Properties prioritizing stability over utilization |
| Contracted corporate blocks | High | Low to moderate | Moderate | Office-heavy areas with consistent weekday demand |
| Permit-based flexible parking | Moderate | Low | Moderate to high | Sites with predictable usage windows and shared demand |
| Short-term public parking | Low | High | Variable | High-traffic locations with steady daily demand |
| Event-driven monetization | Low (annual) | Low (outside events) | High during events | Properties near venues or seasonal attractions |
Disclaimer: This article provides general information and operational insights about parking monetization. It is not intended as financial, legal, or regulatory advice. Parking strategies and outcomes vary by property, location, and operating constraints, and should be evaluated in the context of each specific site.
Features like EV charging, reserved access, or non-parking uses can work well in the right setting, but they are not universally good for every space. Their impact depends on demand, dwell time, and how much operational complexity a site can absorb.
This section looks at add-ons that tend to perform well only under specific conditions, and where they often fall short. The goal is to separate options that support an existing parking strategy from those that add cost or disruption without meaningful return.
EV charging can add revenue when there is clear demand and enough dwell time to justify installation costs. It tends to work best in locations where drivers already park for extended periods, such as offices or mixed-use sites. In areas with short stays or low EV adoption, charging stations may increase complexity without delivering significant returns.
Advertising or temporary non-parking uses can create incremental income in high-visibility locations. These options tend to work best when they are limited in scope and scheduled outside peak parking hours. When they interfere with circulation or core access, the operational trade-offs often outweigh the revenue.
Common non-parking uses that can make sense in the right context include:
These uses are most effective when they complement existing demand rather than compete with it.
Different property types tend to support different parking monetization approaches based on how and when spaces are used.
| Property type | Models that typically work best |
| Office | Contracted corporate blocks, permit-based access, event-driven use |
| Mixed-use | Space sharing across time periods, permits, selective public access |
| Retail-adjacent | Short-term public parking, event-driven monetization |
| Commercial campuses | Long-term leases layered with permit-based access |
Actual outcomes depend on local demand patterns and operating constraints.
For a deeper look at matching parking strategies to the right users, see our guide on choosing the right renters for your parking spaces.
If you manage underused parking and want to apply these strategies without adding operational overhead, WhereiPark helps property owners list, manage, and monetize parking with clear rules and predictable access. You can explore how it works or list your spaces when you’re ready.
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.
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.
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