DENVER (CBS4) – The challenge to find parking in certain Colorado cities inspired two entrepreneurs to launch an app encouraging people to rent out their parking spots. It’s an effort to help people looking for space during major events or staying in town for the day.
“Drivewayz is really pushing to create parking for the community from the community just so we can really decrease the stress of parking,” said Reese Barracks, the CEO and co-founder of Drivewayz.
The app lets homeowners and in some cases, renters, lease their driveway or assigned parking spot to others. Users can then book parking spots in advance or search on demand just before an event.
The co-founders thought of the idea while studying at the University of Colorado Boulder and launched their business last August. They’ve expanded to other cities including Fort Collins and San Diego.
“There’s lots of Ubers going around, lots of taxis, lots of people looking for spaces,” said Graham Trotter, a user of the app. “It can be stressful, sometimes you have to park really far away, and you’re in store for a really long walk.”
Trotter first used Drivewayz when looking for parking at a Rockies game. He says now the service helps him save time because he doesn’t need to search for a spot and he can focus on enjoying the game.
“I think it make the occasion as a whole less stressful,” he said.
Most users are property owners as city regulations can affect who can rent out parking spots. Barracks say they’re working to help renters meet regulations while listing their parking spots. Pricing is based on demand so some spots may be similar to street parking during the day while rising in cost during peak times for a major event. But the cost is still less than event lots, according to Barracks.
“This is such a new concept that we are really trying to spread the word,” he told CBS4 over a video call from San Diego.
Trotter says he has also used the app when he needs to visit downtown from Boulder for a meeting. He hopes to move to Denver and live close to work. The goal is to not only use the app but list his future parking spot as well.
“If I can make a couple extra hundred bucks a week or a month, on the side, leasing out those spaces, that would be incredible for me,” he said. “This can benefit anyone.”