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Medium-Term Rentals

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Christian Pancake
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How Important is Off Street Parking/

Christian Pancake
Pro Member
Posted Apr 17 2024, 10:15

Hey Everyone!

One quick question...how important is off street parking to guests? We are looking to have off street parking available at all of our units but a couple of them will require adding a parking pad and will be a significant expense, so I was curious to see how important that will be to guests. Note - the units without off street parking do have free, non-permitted street parking and there is always space right in front of the houses.

Thanks!

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Erin Spradlin
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  • Real Estate Consultant
  • Colorado Springs, CO
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Erin Spradlin
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  • Real Estate Consultant
  • Colorado Springs, CO
Replied Apr 17 2024, 12:05

Depends on where you are located. If you have ample street parking and aren't in an area where the cars will get destroyed by hail, etc. than it is less of an issue. Some of your midterm rental tenants will still have difficulty believing parking is available (if they are from the cities), but for the most part- not a huge issue. 

Erin Spradlin Real Estate Consulting Logo

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Zachary Deal#1 Medium-Term Rentals Contributor
  • Lender
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Zachary Deal#1 Medium-Term Rentals Contributor
  • Lender
Replied Apr 17 2024, 13:04

I agree with @Erin Spradlin - I think if you can confirm/convince potential tenants that there is plenty of on street parking it is not an issue, but if it is in a busy neighborhood where finding parking could be difficult I think adding the parking area would help a lot.

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