Jul

Driving revenue from unused land

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Turn your vacant plot into a pop-up car park and earn extra revenue.

Effective revenue management means driving maximum yield from your assets – and that includes any unused space you may have. Unfortunately, real estate can often remain empty for long periods due to various delays – and this represents a missed opportunity for landowners.

The JustPark system extends its pioneering car park technology to focus on unused real estate with parking potential.

Whether your site is awaiting planning permission, development or simply lying dormant, parking company JustPark is now offering an array of tech-driven solutions which will allow you to rapidly generate revenue from your unused land – by renting it out as a car park for as long as it remains empty, whether that’s weeks or years.

JustPark have created a pioneering pop-up car park service which can be mobilised in a matter of days. Regardless of the amount of spare space you have or the length of time it’s available, it’s now very easy to transform any site into a commercial car park – and just as easy to reverse the process when development needs to begin.

Leveraging the same cutting-edge technology which has helped them reshape parking for the digital age, JustPark’s set-up for unused land is remarkably labour non-intensive. Their online platform provides access to over one million drivers who use the website and app to book parking; and their pioneering on-site hardware facilitates on-the-spot cashless sales – and also enables automated enforcement at the car park.

JustPark’s pricing software will also recommend tariff changes based on occupancy data and projected driver demand – suggesting low rates during off-peak periods and higher rates when spaces are limited. The electronic tariff display will update in real-time – helping to drive more customers to your site and allowing you to maximise the yield from your spaces.

The end result is a quick and cheap way to generate revenue from empty space, one which doesn’t require lengthy contracts or large up-front investment – and an increasing number of landowners are now using JustPark to tap into this revenue stream. The company already helps hundreds of hotels, landlords, restaurants, schools and churches make the most of their assets – and each parking space can generate £1,000s per year for these businesses.

If you already have a car park at your property, you can rent out your spare spaces right away via the JustPark website and app. Any bookings you receive will be paid for online, with all transactions processed automatically – you simply get paid straight into your account.

If it’s unused land that you’re looking to monetise, you may require additional permissions before you can rent it out as a car park (which JustPark can easily acquire for you). If it’s a large urban plot with space for lots of cars, you may want to consider JustPark’s hardware options too – which will help you capture passing customers as well as those booking online.

With this new technology, it’s now easier than ever to turn your empty land into a lucrative revenue source – temporarily or semi-permanently. To find out your site’s parking potential, head to JustPark.com – you may be surprised how much your spaces could be generating.

Article Courtesy of: https://www.justpark.com/

… LandlordZONE.

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