Is your parking spot on your property sitting idly? Would you like to earn some extra money? Rent out your parking space. In this article, we will tell you about the sparking situation in the US, the advantages of renting out your parking space, how much you can earn with this, and how to do it.

Parking situation in the US

study by INRIX found that US drivers spend 17 hours per year looking for parking on average. In some congested places a third of the traffic might be drivers cruising for parking, another study finds. And the costs can be immense, reaching $27 per hour in New York, while purchasing a parking spot can cost $600,000.

With such a situation, no wonder that rental spots are in demand or that many people rent out their parking space. Some people that rent a parking spot are traveling for vacations or business with their own or rental cars. Others might live in the city but not have a parking space. To be sure, few people want to lose time roaming around looking for a space to park. Having one reserved saves both time and peace of mind. 

On the other hand, there are some people who have a parking space but do not have a car or hardly use it. So, even if it’s just a few days a week that your parking space is unoccupied, you can benefit from it!

How much can you earn with your parking space?

It depends. The most important factor, of course, is the city. Are you renting out a parking space in Brooklyn or Atlanta? You might earn $300 in one place and $50 in another. The closer the spot to the city center, the more valuable it usually is. Parking spaces near airports and stations are also not too bad. 

On average, you can earn about $200 per month when you rent out a parking space. You can get even more if the parking spot is large, there are CCTV cameras and good lighting around. Spaces in indoor garages are also worth more, and you can expect even $300 per month. 

Perhaps you also have a car that you are not using much? You can rent it out too! Learn how to rent out your car.

How to rent out your spot

First, you should make sure that renting out your parking space is legal. The parking spot has to be exclusively yours: it cannot be a common element of the building where you live. If the spot is yours, but you are just a tenant in your living space, check with the owner that they allow renting it. You should also check your city bylaws and make sure it’s legal. Then you can think about how to rent out your parking space.

You can post an ad yourself or trust an app. The apps can simplify the procedure, and you can save time. They can also help to handle payments. Of course, there are some disadvantages, like possible membership fees, commissions, or caps on your earnings. Some of the popular ones include ParkingForMe, ParkOnMyDrive, and SpotHero. Check out other ads in your location to decide on the price you will ask.

Other people do not use apps and post ads themselves. Some places you can do this are Craiglist, Facebook groups, or just your neighborhood bulletin. While you hardly have to pay any fees, there is less security. There is no verification and no help with handling payments. If trouble arises, you will have to deal with it all by yourself.

If you are renting the parking space for quite some time yourself, it’s recommended to draw up a contract with your renter. You should also agree on the time to pay the rent, such as the beginning of the month. 

XRental is also planning to expand to renting parking spaces soon. You could join us and post an ad for your parking space! We will not rip you off: our motto is allow partners to make money. Posting an ad here is simple and easy. Contact us if you wish to rent out your parking space and earn money!

Are you thinking about renting out a yacht? What kind would you like? Then read on! This article covers different types of yachts and their advantages. It might help you decide which kind is the best for you!

What is a yacht, anyway?

The answer to this seemingly simple question is more complicated than you might think. Even the dictionaries can’t agree. The Cambridge dictionary provides two definitions. The first one is “a boat with sails and sometimes an engine, used for either racing or traveling on for pleasure.” The other one, which is more common in the US, states that a yacht is a “large and usually expensive boat, used for racing or traveling around for pleasure.” That’s the one we are going by too. And we will only focus on yachts for pleasure purposes. Sorry, yacht racers.

So, how large is this “large boat”? Most sites state that a yacht is at least 30 ft long. It should also have some cabins and amenities so that people feel comfortable aboard. Some boat owners say that yachts must be longer: according to some, it’s only from 78 ft that it is a yacht. Usually, a yacht of this length is considered a superyacht. And if it’s over 164 ft or 50 m, it’s a megayacht.

One of the most popular types: motor yachts

Some people still think that only wooden boats with sails are yachts. While it’s a common type, motor yachts are probably more popular. Instead of sails, they have an engine, and you mustn’t know how to sail! You must know how to control a motor yacht, of course, but it’s easier than sailing one. They are also perfect for parties and can include many features, such as hot tubs! As well as various water toys, fishing gear and more. Vacationers also often use motor yachts to travel from one place to another.

There are very many subtypes of motor yachts. For example, there are express cruisers, which are faster than cabin cruiser yachts. Motor yachts can also have very distinct shapes. For example, there is the flybridge yacht, which has an open area where the roof of the yacht would be, usually covered by a hardtop. Hardtop motor yachts do not have such a feature. There are also fully-enclosed motor yachts with hardly any open areas. They look very smooth, though. There are also trawlers, which remind workboats a little bit. They are great for long journeys. And fishing yachts have all the comforts of the usual ones but also allow you to enjoy fishing to the fullest. There are also houseboats, which look exactly like a house but are floating on water! If you are interested in motor yachts, check out this video which extensively explores many types of power yachts.

Some types, describing the design, can be both motor and sailing yachts. For example, a catamaran has two parallel hulls and it can either have an engine or sails. There are also trimarans with three hulls. And yachts with even four or five hulls!

Sailing yachts and other types

Do you want to experience what it is like to sail a boat completely on your own, just like in old times? This is the main reason why people choose sailing yachts. Of course, you must know how to sail. Some sailing yachts only have sails, while others are hybrids: they also have motors installed so you can return to the port safely in case something goes bad. There are also classic yachts, built in the past. Many of these were handcrafted and have a very different feeling from modern boats. Of course, they are also more expensive to charter.

If you want an even more exotic feel, try a Gulet yacht! It’s a Turkish two-masted (and sometimes three-masted) wooden sailing yacht. In the past, people used gulets for fishing. Nowadays, they are very popular among tourists for pleasure purposes. It has both a motor and sails.

Sailing yachts are often classified according to hulls (monohull, catamaran, or multi-hull). These all have classes: for example, monohull classes are dinghy, sloop, cutter, ketch, catboat, and schooner. They can also be classified according to keels.

Now you know quite a bit about different types of yachts. Perhaps you will now know which one is the best fit for you. If you already know that and are planning to rent one, check out this article on how to rent a yacht affordably and best yachting destinations in the Mediterranean.

Of course, it is more expensive to rent a yacht than a car. After all, the average yacht cost is much higher than the average car cost. The boating lifestyle is often considered a very luxurious one. The ultra-rich often buy boats and spend lots of money on them. However, chartering a yacht is not as unimaginable as it might seem at first. It might even be cheaper than other options in some cases.

What makes it expensive to rent a yacht?

Rental prices for yachts can range from several hundred to several thousand dollars per day. It depends on many factors.

First, of course, is the yacht itself, especially its size. Do you want to charter a yacht for four or 24 people? Most can only have up to 12 people aboard because of regulations of Safety of Life at Sea. Of course, some are much bigger and can have much more passengers, but the price goes up considerably. Design and age also affect the price. The better the design, the higher the cost, of course. Learn more about different types of yachts.

The destination is also important. Places with well-developed yachting businesses tend to have lower prices. However, if you are looking to rent at or reach some exotic location, the price will likely go up.

The time during which you rent the yacht matters too. In the Caribbean, the yachting season approximately lasts from late November to May. The official start of the season is in early December when the Antigua Charter Yacht Show takes place. However, in New York, the high season is from late April to late October. Basically, the season dates depend on the optimal weather and temperature for yachting. Of course, rental prices are much higher during the yachting season.

Now, let’s compare the prices a little. The average cost of a rental yacht in California is about $1,100 per day. In the Bahamas, the most popular yachting location in the Caribbean, the daily price during high season starts from $2,000. But the average is more like $4,000. It’s pretty similar in New York. In Saint Tropez, sailboats and catamarans can cost less than $500 per day.

Tips for cheaper yacht charters

Do you only need the boat and are planning to sail yourself or find your own crew? This way is known as a bareboat charter. Of course, it’s cheaper but can more troublesome. Also, in many cases, it is only possible renting a yacht together with the captain. Check out the video about bareboat chartering if you are interested:

If you want to get a good deal, start looking early, like 7 to 12 months before your planned yachting trip. The closer it is to your vacation, the more expensive it becomes. Also, if you want to save, opt for older yachts, which are maybe four years old. They are new enough to be reliable but still a little bit cheaper.

Finally, it’s best if you find and close the deal yourself, without any agents. Agencies can rip off up to 35% of the rent price. It is also better to communicate directly with the owner in case any trouble arises.

And if you really want to save, you can rent just a cabin instead of the whole yacht. It’s like a group tour but on a yacht! Sure, there is way less privacy and freedom. But if you like socializing and want a cheaper experience, it might be a good choice for you.

Is it worth it?

Yes, if you want to try a boating lifestyle and spend a few relaxing days this way. If you wish to taste luxury without long‑term obligations, also yes. Finally, if you are looking to host an unforgettable party, definitely rent a yacht! It might also be cheaper than week-long cruise tickets for a large family. If you are really trying to save money, well, think about it. Renting yachts is more expensive than renting cars, to be sure. But it’s affordable, depending on your budget and your needs.

It is also much, much cheaper than buying one. While having one might be something more to boast of, it will cost you so much more. Yachts are expensive to buy, depreciate like cars, and require lots of sustenance. You are also not likely to use it for more than 30 days a year which means that the yacht will sit idle 11 months out of 12. When you rent a yacht, you can save lots of money, not care about maintenance, or the purchase sitting idly. And you will be able to relax on a yacht, getting this extraordinary experience.

To sum up, if you have some money and are looking for a unique experience for yourself, your family or your friends, a yacht charter might be perfect. Consider all the factors, such as location, season, yacht size, crew, and decide on what you need. Try to close the deal without agents and a long time in advance to save money.

Planning a yachting vacation? Check out the best places for a yacht charter in the Mediterranean and the US!

Have you ever heard about a desert safari? Dune bashing? It‘s a unique experience that you can only get in certain parts of the world, such as Dubai. A wild world will reveal itself before your eyes. You can hire a guide or drive through the safari yourself. Let us tell you everything you need to know.

Why do people love desert safari experiences?

There are many reasons why this activity is so popular. First of all, it’s unique. Most people live far from the deserts, crammed in the cities. And in the desert, you only see vastness ahead of you. The sight of such a barren wasteland even makes some people dizzy! But sand dunes and rock formations also look astounding.

desert

Of course, there is also the thrill of driving through the desert. Whether you are at the wheel yourself or have hired a driver, the vehicle climbing up and down the dunes and tilting at impossible angles will be like nothing you experienced before!

Also, if you join an organized tour, there are many other attractions include in the packages. You usually drive to a camp in the desert. One more distinctive ambiance awaits you there! You will be able to try delicious Emirati dishes and different shisha flavors, get a henna tattoo if you want. There is also live entertainment, such as belly dancing and spinning dancing. The price for booking a safari tour is from $10 to $40, but of course, the cost can grow with more activities included.

Driving with a guide or by yourself

There are many deals offered in Dubai to try safari drives. For example, a guide can pick you up, drive you across the desert, take you to the camp to enjoy other activities. You can also choose to go to the desert connection point with your own car, which will be cheaper.

There are also many self-drive desert safari packages offered. At the desert meeting point, you can get a 4×4 vehicle, usually a Jeep Wrangler. You will also get instructions on how to drive safely. Then you will drive your jeep in a guided convoy. You can take up to three passengers and share driving with one other person.

Of course, if you seek even more freedom and thrill, you can try going out to the desert alone. Remember that you can’t drive a rental car onto the sand: it will breach the contract. And if something happens, insurance won’t cover you. If you want to drive by yourself, make sure to find insurance that will cover off-roading accidents. Also, do not go out alone. At least two vehicles with all the equipment needed should go so they can help each other. If you want to learn off-roading, Emirati Driving Institute offers such courses.

What to beware of in the desert

Just like with any rewarding experience, there are also some risks associated with desert safaris. We will tell you what to be careful about so your experience can be as enjoyable as possible.

First of all, it’s the sand. You are driving across a wild desert which is basically heaps of sand. Sand can get anywhere and damage the equipment. Try only taking the necessary devices to the trip. You will probably want to take a camera, though. In that case, only change the lens inside the car to minimize the possibility of the sand getting in.

Off-road driving is an adventurous activity and risky to a degree. Car troubles can happen. If you are traveling with an experienced guide or in a group, you will likely be able to deal with it quickly. Just be prepared that you might need to help dig the jeep out of the sand, change a tire, etc. Also, take some medicine for car sickness and maybe a sick bag. Off-road driving is very uneven, and many people get sick. The experience is still worthwhile, though!

To sum up, trying a desert safari drive is an experience you will hardly forget. You can book a tour with many activities quite cheaply. You can choose whether you want to be driven or drive yourself. It is also possible to go off into the desert alone but make sure you know how to off-road, there is another vehicle with you, and that insurance covers you!

Renting property or equipment sounds super appealing. You don’t have to do much, just rent it out and the cash will keep on flowing in, right? Yes, a rental business can be an amazing source of income. But you have to do it right. In this article, we will give you tips on how to start a rental business.

Finding the right rental business idea

Okay, so you know that you want a rental business, but what do you really want to rent? Bikes, cars, boats, maybe even parking spaces? It is an important decision to make, and it should depend on several factors. For example, it is a good idea to rent things that you know about a lot. Such knowledge will not only motivate you but will also allow solving arising problems easier. 

Another way is to find a niche that you could fill. Perhaps you know areas where certain rental items is in demand, but there is a lack of supply? It might be your chance for a flourishing business! You might also discover a trend of which other companies are not yet aware. It is very much connected to another important step when setting up a business: market research.

Doing the homework

Doing your homework or conducting market research is essential to start a business successfully and helps avoid making mistakes. Try finding as much information as possible before launching your business. You can both find your business idea this way, but you can also fully develop the one you already have. Consider such questions as what are my clients? What do they want? What about the competition? How do I get funding? 

A good idea is to consult professionals. They can answer some of your questions and help with the planning process. You could also try getting some experience working with rental businesses because experience always comes in handy.

Check out the success story of Ronnie Danelian, owner of Legends Cars Rentals, who started with a $10,000 investment and now makes $175,000 a month.

Taking care of your stuff

Good inventory is essential. After all, you have to own items in order to rent them. Do not start too big: rent just a few items at first. If you have too many items right away, it may be difficult to properly stock or manage them. Also, it might turn out that the customers want something different than you are offering. It’s best to start small and buy more items as you move forward in your business.

It might come as a no-brainer but remember to take good care of the items. The longer the equipment or property serves, the more profitable it is. Also, try to make sure it does not break or malfunction in the hands of the customer. Such happenings can affect your image very negatively, so keep up good maintenance.

Start your rental business online

More and more businesses are online. People love being able to access items 24/7 from the comfort of their homes. However, if you want to have a successful online rental business, you must have a functional and good-looking website. Appearance matters a lot since it has to grab the eye of your visitor. One of the most important things in a rental website is the reservation system. If your reservation system works poorly, you can lose your customer forever. Fortunately, it’s quite easy to have such a system. If you use a WordPress site (which we recommend because WordPress is the most popular website builder for a reason), you can buy the plugin Car Rental System. It’s a plugin that can be easily edited and include basically any functions you want.

Another important thing when creating an online rental business is the domain name. Your domain name will distinguish it from many other websites: it must be attractive, unique and recognizable so that people remember it. Once you have a good name, register it on the Domain Name System. Then, choose a hosting provider and build your website.

A happy customer means a happy business

There is a reason why businesses like to say that the customer is always right: happy customers are likely to return, leave good reviews and so generate profits. Of course, you must also ensure your needs, so prepare a good contract that sets down all that is important: the dates, what to do if certain things go wrong and so on. The clearer everything is noted, the easier it will be to handle arguments. Finally, make sure to provide good services. Only then you can start and develop your rental business successfully!

The short answer is: it depends. It depends on your needs, your travel goals, your likes, and your dislikes. We will discuss why it is sometimes good to get a taxi and why sometimes it might be better to rent a car.

Advantages of a taxi

Does driving make you stressed? In this case, taxi services will allow you to rest. You won’t have to learn how to control a car with which you might be unfamiliar. You won’t have to worry about navigating around and finding a place to park. Taxi drivers know their way around well and can take you to your destination quickly. It is also a quite secure way of traveling, and you do not have to worry about gas or insurance.

Moreover, if you are young, a taxi might be the only possible choice. In most US states, the minimum age to rent a car is 21 years old. There are only three exceptions when you can rent a car just over 18: if you are in New York or Michigan states, or a government worker (have your documents in that case). Also, there is an additional young renter fee. The average cost is $25 per day. And if you are renting a car in NY or MI under 21, you will have to pay even more. This is because statistics show that people under 25 are at a larger risk to make an accident than older people.

Advantages of a rental car

However, renting a car has even more advantages. Some of the most important perks are freedom and privacy. You get to be your own boss. You control where to go and which roads to choose, when to leave and when to go back. If you like driving and are good with navigating, it might be a much more satisfying choice.

Another thing is privacy. If you are traveling with your friends and family, you usually talk with them during journeys. With a taxi driver sitting in the front, the conversations would feel much more restricted. Travel time might not be too enjoyable: it would be only for the sake of getting from point A to point B. Meanwhile, driving your loved ones yourself can create a pleasanter atmosphere. You can also keep your belongings in the car and don’t have to drag them around or leave them at the place you are staying.

Is a rental car cheaper than a taxi?

Usually yes, but it can depend. Are you only planning to go to the beach and relax there all day? Taxi might be cheaper. Also, when taking a taxi, you do not have to pay for fuel or parking space, compared to when you rent a car.

However, if you are planning lengthier trips, a rental car is definitely better. You pay a fixed price for a day and can travel however much you want. You can stop wherever you want if you see an interesting sight and continue traveling whenever you feel like it: you don’t have to wait for a taxi to come. Also, don’t worry about the car breaking down: it’s insured by the rental company.

Also, taxi rates often rise during peak hours, and they can be super expensive in some cities. For example, Honolulu, Hawaii, and Santa Barbara, California, are known to have some of the highest taxi fares in the US. The initial charge is around $3.50 in Honolulu, and every mile costs around $3.60. You will see that the price will add up at a furious rate.

To sum up, renting a car is usually economically better: unless you are only planning on making one shortish trip a day. Although you will have to figure your way around and find a parking space, a rental car will give you more freedom and privacy. A rental car is the best choice if you want your car trips to be a meaningful and enjoyable part of the journey. Check out the article on things to consider when choosing a rental car.

Are you ready to rent a car instead of a taxi? We offer various kinds of cars for rent in various locations.