Spacer Drives Significant Income Gains with Parking Side Hustle

Keyan Golestaneh, a Boston resident, has earned over $40,000 through Spacer by renting out his spare parking space. Spacer, a leading marketplace, reported an unprecedented 1,144% rise in North American demand for parking. This surge has enabled hosts to collectively earn over $5.4 million from their parking spaces.

Keyan, who works in commercial property development, rents his parking slot primarily to young professionals from out-of-state, including essential workers like teachers and nurses. His success story highlights a thriving sharing economy which is expected to be worth $794 billion globally by 2031.

Spacer's growth reflects a broader trend, having seen an 866% increase in user engagement since its inception in 2018. Mike Rosenbaum, CEO of Spacer, suggests that renting out parking spaces can significantly aid financial stability, particularly in urban areas with limited parking.