Introduction
You’ve probably heard the “they ain’t making any more land” saying before. Indeed, land in general is a finite resource. Add an industrial zoning filter in any city with a major MSA or intermodal port and you will find the limited results to be extremely scarce. If you are one of the lucky few who have an appropriately zoned piece of land that is underutilized, what are your options to generate returns? One potential solution is to rent your yard as a shared truck parking facility. This unique approach not only generates income but also serves the community of truck drivers who play an essential role in our supply chain. The truck parking shortage is a nationwide problem and we believe the private sector is going to be the group to solve it.
The Nationwide Truck Parking Shortage Problem
Before we dive into how you can rent your yard to truckers, let’s look at the larger issue. The trucking industry is the backbone of the U.S. economy, delivering goods across the country. However, there is a significant problem affecting truckers—lack of adequate parking. According to a study by the American Transportation Research Institute, truck parking ranks as one of the top concerns for truck drivers and fleet operators. This is not just an inconvenience; it’s a safety issue. Insufficient parking can lead to drivers parking in unsafe areas, making them vulnerable to theft and accidents.
Rent My Yard and Benefit the Community
In light of the parking shortage, your underutilized yard can be an untapped goldmine that serves both your financial interests and the community. Truckers are often willing to pay a premium for secure, accessible parking, and by offering your yard as such a facility, you’re filling a much-needed gap.
Advantages of Renting My Yard to Multiple Users
1. Higher Revenue Potential: Renting out your yard to multiple truckers on a shared basis can sometimes yield higher gross revenues than leasing it to a single tenant.
2. Immediate Revenue Potential: Generally, with Rig Hut you can start generating revenue immediately. We have a nationwide network of drivers looking for space. Start earning income faster!
3. Maintain Optionality: Short-term licensing gives you the flexibility to easily switch to a long-term single tenant should the opportunity arise.
4. Community Service: By providing much-needed parking space, you contribute to safer and more efficient transportation logistics.
The “Rent My Yard” Business Model
Here’s how you can get started:
1. Assessment and Zoning: Check local zoning laws to ensure you can legally rent your yard for this purpose. Municode is a great resource here.
2. Space Planning: Consider how many trucks your yard can accommodate while allowing for easy entry and exit. Need help with this? Ask us about our site planning services.
3. Pricing Strategy: Rig Hut can also help you in determining where your yard should be priced. With historical data and rates on over 1,000 yards throughout the country, we have a great idea as to revenue potential. See this article
4. Marketing: Use Rig Hut’s Marketplace to gain exposure to our nationwide network of drivers and carriers looking for space. Our easy to use tools allow you to review each booking in advance, assign specific parking stalls, and helps with automating all of your recurring payments.
5. Operations: Take a look at our yard management software tool – continually adding functionality exclusively package for truck parking operators. Collect and record security deposits, automate your payment flows, and communicate with your users directly on the platform
Conclusion
Renting your vacant or underutilized land as a shared truck parking facility offers a win-win solution for everyone involved. Not only can it often generate more revenue than renting to a single tenant, but it also provides a much-needed service to our nation’s truckers, improving the truck parking shortage problem. Short-term licensing ensures that you’re not locking yourself into any arrangement, maintaining optionality. The next time you think about how to best use your vacant land, remember Rig Hut.
Now that you know the benefits and steps involved, why not transform your idle land into a profitable and community-serving venture?
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*Disclaimer: This blog post is for informational purposes and not a substitute for professional legal or financial advice.*
