For example, the agreement will allow customers who rent out their parking space out via YourParkingSpace.co.uk to monetise their vehicle, when it is not being used, through hiyacar.
Equally, customers of peer to peer car sharing platform hiyacar will be directed to YourParkingSpace.co.uk if they require parking during the course of their car rental.
As well as cost-saving, the partnership also highlights the money-making opportunity that is available in the sharing economy, namely the exchange of services and goods between two people, and which has previously been estimated as being worth £8 billion in Great Britain.
For instance, YourParkingSpace.co.uk customers made £21 million in 2020 by renting out their vacant driveways to motorists needing somewhere to park, claims the company.
Says Harrison Woods, CEO at YourParkingSpace.co.uk:
“This new partnership will see a seismic shift in the sharing economy as two of the UK’s torchbearers come together.”
Meanwhile, hiyacar customers who listed their cars on the website could often make an average of £400 per month with some owners earning in excess of £800 a month in high demand areas.
Adds Co-founder and CEO of hiyacar, Graeme Risby:
“Our partnership with YourParkingSpace is the perfect fit for our members and will help accelerate the growth of the sharing economy.”