5 Benefits of booking a monthly parking space in Sydney

5 Benefits of Booking a Monthly Parking Space in Sydney

Booking a long-term parking space reaps greater rewards in the long run. Here are five reasons why it’s better to consider monthly booking.

It’s undeniable how vibrant and active Sydney is no matter the time of day as Sydneysiders and tourists go out and about to work and enjoy all the things the city has to offer. But underneath that lively atmosphere is an issue that all drivers face regardless of how seasoned they are: the fierce competition for parking spaces and increasing parking rates.

This essentially means that drivers paying for casual parking are at a disadvantaged position, especially if they have to search for a parking spot daily. In such a situation, it makes more sense to book a monthly parking space than leaving it to luck by insisting on casual parking.

It’s fortunate if you happen to know where exactly a cheap parking space is always available 24/7 or you’re armed with a helpful guide such as “The Complete Guide to Parking at Universities in Sydney (2024 Edition)”, but for many Australian drivers, searching for a parking space is part of the daily grind.

Why you should consider long-term parking in Sydney

Research by Ray White Corporate reveals that Sydney Central Business District (CBD) has the second most expensive casual parking rates – only losing the top spot to Melbourne recently as pressure for work from home (WFH) arrangements increased. Additionally, Ray White Corporate Head of Research Vanessa Rader said that parking costs in Sydney CBD historically increased as car parks-to-office ratio decreased.

Rates for casual parking continue to put a dent on the finances of unprepared drivers, as well as take up time to search for a spot – precious time that could be used for other things.

But by securing long-term parking, you not only get an assured parking space in the location of your choice, you also pay for them at better rates with the large number of available cheaper parking options.

Still not convinced? Here are five benefits of booking long-term parking spot in Sydney.

1. Cheaper rates, more savings

It’s not a secret that casual parking rates tend to be higher compared to long-term rates. While paying for casual parking is acceptable if you don’t always drive around Sydney, it eats up a huge chunk in your finances in the long run for those who drive up daily, especially those who work in the CBD.

Casual parkers would know that finding a parking space close to their destination is largely dependent on luck if they don’t prepare beforehand by leaving the house early and praying that the traffic is agreeable. Otherwise, they could end up going around in circles just searching for a spot or settling for more expensive rates so they don’t have to park too far away – not an ideal scenario for those with tight finances.

Even if you pre-book a spot before leaving home to get a lower rate compared to casual, on-the-spot parking, if it has to be done on a daily basis, the rates are still higher compared to monthly rates.

For instance, the average casual parking in Sydney CBD on a typical workday average is at $77.67, according to the Ray White Corporate research. Pre-booking daily parking, on the other hand, can run from between $30 to $65, depending on the location.

Assuming four weeks (20 days) of daily requirement, casual parking would run up to $1,553.4 in a month while the daily parking rate for pre-booked parking would cost around $600 to $1,300.

However, you can pre-book a monthly parking space at even lower rates as some parking providers offer a full-month’s parking for a little over $330 for a minimum of one-month contract.

2. Convenience

In connection with the above benefit, pre-booking a monthly parking comes with the assurance that your chosen parking space is ready upon your arrival.

Even if you pre-book a spot on a daily basis, there is still no assurance that you will be able to secure a spot close to your destination if there is a huge demand on that day.

Likewise, you will eliminate the chance of arriving at your preferred parking service provider only to realise that you actually forgot to book a spot prior to your arrival that day.

Then you’d have to drive around and waste precious fuel in the struggle to find an acceptable spot.

But with a pre-booked long-term parking, you’ll have an assured spot without the daily search while also saving fuel – that’s lowering expenses for two things in one booking. Plus, there’s a variety of monthly parking options available for rent at prime locations from the heart of Sydney CBD to surrounding suburbs and even close to public transit stations.

All you need to do is to input your preferred parking location.

3. Security

Security is definitely important when choosing a place to leave your vehicle for hours but, whether we like it or not, it’s not always assured, especially in casual parking spaces.

However, monthly parking space providers usually have security measures, such as CCTVs and good lighting, installed to ensure the safety of both the driver and their vehicle. Some even have staff who patrol the area to keep an eye on parked vehicles.

With such measures in place, you can go about your business – whether work or play – knowing that your car is safe at a secure car park.

Likewise, you can choose a covered parking facility to keep your vehicle safe from damage caused by unpredictable weather.

4. Time-efficient

A monthly parking booking will help you follow a more time-efficient schedule because knowing where exactly to park and how far the distance is to your actual destination will enable you to estimate time better.

This will allow you to make better use of your time where it’s actually needed instead of wasting it on searching for a parking space in Sydney CBD.

You may think that 10 to 15 minutes of driving around in search of parking isn’t much, but it’s plenty when you need to calm yourself or make last minute changes to your presentation.

After all, a 10 to 15-minute power nap is more valuable than the same amount of time sitting behind the wheel while searching for a place to park.

5. Simple & Easy

Times have changed and while it was harder to find long-term parking providers in the past, it’s now as easy as taking out your mobile and doing a quick search to pre-book secure parking spaces in the CBD.

With services offered by companies such as Parkhound, finding and booking convenient parking space is as easy as opening the app, doing a quick search, and confirming your booking. Plus, you can actually compare prices and choose the spot that works best for you before paying with your debit or credit card.

The best part is that Parkhound can help you find a parking space anywhere in Australia: whether it’s in the busy streets of Sydney CBD, close to the sandy beaches of Perth, or the historic Battery Point in Hobart.

It’s a smooth ride once your booking is confirmed: from the cashless hassle-free payments to the smooth entry process and finding your dedicated parking space until you exit the parking garage. If you have any issues, you can easily get in touch with the parking host or customer support staff.

Is a monthly parking space booking really for me?

While it can be a more affordable option if you make the best use of it, it can also be a financial black hole. No matter how much cheaper it seems to be if you end up unable to fully utilise the parking space you booked by parking fewer days per month than you actually paid for.

A long-term parking space booking isn’t for everyone so you need to assess your individual situation and financial capacity before taking the leap.

This content is originally published for Parkhound, a Spacer Technologies company, and is protected under the Copyright Act 1968 (Commonwealth). Unauthorised use or reproduction of this article, in whole or in part, without permission is prohibited and may result in legal action.