parking on the street

3 Things to Know About Parking Fees

Parking fees are becoming increasingly common at apartment communities and other rentals. As parking in many cities becomes more scarce, property owners charge fees to residents for the best-of-the-best parking spots.

1. You don’t have to pay a parking fee

The truth about parking fees is you don’t have to pay them! But in many cases, if you don’t pay, you’ll have a very difficult time. Most of the time, parking fees are charged separately from the general monthly rent. This means, if you don’t have a car or want to park your car off-site somewhere, you can avoid paying for a parking fee altogether.

2. Parking spots are limited

On the other side of the coin, just because you can afford to pay parking fees, doesn’t mean you’re entitled to a parking spot. At many apartment communities, parking spots are limited. This means, there may not be an open spot for you right away and you may have to join a waitlist. In the interim, you’ll have to park elsewhere and will potentially have to pay parking fees to a third-party entity.

3. Parking fees cover an element of security

One of the benefits of paying parking fees is that you often get added security as a part of the deal. Sometimes, there is literal security personnel on-site at the paid parking lot. Other times, these lots are monitored or gated. This can go a long way towards protecting your belongings and saving you from loss in the long run.

parking lot

Parking fees are just a part of life, but it’s important you budget for them

In many cities, you simply can’t park for free in the majority of lots. For some, you’ll just have to budget parking into your monthly costs. This may mean you have to search for more affordable apartments or cut costs elsewhere. If parking fees become too much, it might be wise to consider other options like vehicle storage and public transit.

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