OpenSpot allows owners of the space to rent it out, and those looking to park can use it at a rate chosen by the owner

OpenSpot has been designed by students at Simon Fraser University

VANCOUVER (NEWS 1130) – Dubbed the AirBnB of parking, Vancouver university students have designed an app that allows you to use empty apartment parking stalls, or rent yours out to make some extra cash.

The new program called “OpenSpot” has been designed by students at Simon Fraser University.

Using the example of the West End, SFU software systems student Baker Al-Nakib points out the streets are clogged, while many apartment buildings in the area have half empty parking lots.

OpenSpot allows the owners of the space to rent it out, and those looking to park can use it for an hour, or even a month, at a rate chosen by the owner.

“So we usually recommend if in the area (parking) is around $5, that people would rent out their spots for $2.50 per hour.”

“We’re in the 21st Century and parking has been always parking. It’s barely changed. There was little innovation in terms of the consumer side. We want cheaper parking, we want to lessen the burden on the drivers.”

The app is going through beta testing.