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Partnerships
JustPark and Sprive partner to offer empty driveways for rent and generate extra mortgage money
Smart Mobility Information
Jul 12, 2023
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Smart Mobility Information

Smart Mobility Information

Jul 12, 2023

JustPark and Sprive partner to offer empty driveways for rent and generate extra mortgage money

Partnerships

  • JustPark, a UK-based smart parking app, partnered with Sprive, a free app that helps homeowners pay off their mortgages faster by allowing homeowners to rent out empty driveways and thereby generate extra income and reduce interest rate pressure.

  • Homeowners can add their driveways to JustPark in less than ten minutes and start earning money to offset costs. The top hosts on JustPark earn GBP 4,000 per year. By contributing an additional GBP 300 per month (GBP 3,600 per year) to their mortgage, homeowners could potentially save GBP 67,600 and reduce their mortgage term by six years and eight months. A quality driveway can increase the value of a home in the UK by 5% to 10%. For example, a driveway could add GBP 29,500 to the value of a GBP 295,000 home.

  • Analyst QuickTake: The partnership with Sprive allows JustPark to diversify its revenue streams and expand its market reach by providing monetization opportunities for homeowners. This collaboration enhances JustPark's value proposition, differentiates it from its competitors, and strengthens its position as a comprehensive smart parking platform for homeowners.

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