New parking app allows users to rent parking spots

by: John Knicely Updated:

SEATTLE - A new app coming to Seattle promises to give you parking options you wouldn't know existed.  Spot CEO, Braden Golub, says it’s the Airbnb for parking.

Spot lets homeowners and property owners rent out unused space for parking.  It could be a driveway while the homeowner is at work during the day.

“The reason we say Airbnb is because people have these unutilized assets sitting empty all day,” said Golub.

The parking space could be at a business that doesn’t open until 4 p.m. and has unused space early in the day.  The office or property can determine they don't need that space for a certain part of the day and make that parking available on the app.

Spot launched in Boston last summer and plans to expand to Seattle, San Francisco, Los Angeles, Washington D.C., Chicago, Philadelphia and Miami.

“We know Seattle is a big proponent of efficiency,” said Golub.  “And while cars may not be the end all be all, we can still utilize the space in an efficient manner.”

The person renting out the spot determines what to charge, but Spot recommends 40 to 60 percent less than nearby parking lots or garages.

So they'd recommend charging about $5 if you're near a $9 garage KIRO 7 found near KeyArena in Lower Queen Anne.  Spot then makes 15 percent of each transaction.

The Spot app is doing a test market in Chicago over the summer and Golub plans to launch in Seattle by the end of the year.