How does monthly parking work for renters?

Want to book a monthly parking spot in your building? Parkade has you covered.

When searching for parking and picking a duration, you can select "Monthly,"which avoids the need to pick an end date/time for your reservation. This is designed for monthly parkers, who don't have any precise end date in mind.

Using this option, you'll only see spots that have no reservations after your start time. Completing the booking will create a long-term, monthly reservation, and you’ll be billed for the first month when the reservation starts.

Short-term reservations are billed at the time of booking, and spot owners are paid 48 hours after the short-term reservation ends. For monthly bookings, however, things work a bit differently.

Renters won't be billed until the reservation actually starts, at which point they'll be billed for the first month, and then they’ll be billed monthly on the same day. We'll release the funds to the spot host 48 hours after the end of each month.

For example, if on January 15 you book a monthly parking spot for $200 with a start date or February 1, you won’t be charged until February 1. On February 1, you'll be billed $200. On March 1 (and on the 1st of each month), you'll again be billed $200, until you or the host cancel the reservation.

Need to cancel? Renters can cancel monthly reservations at any time. Reservations that haven't started will just be canceled (since no charge was made yet). If a reservation had started, the renter selects a reservation end date and we'll issue a prorated refund for unused time.

Spot owners can cancel a reservation in their spot at any point before a monthly reservation starts. After it starts, though, they need to give at least 14 days notice to ensure the renter has enough time to find alternate arrangements. You can always email us at hello@parkade.com if you feel there are special circumstances or extra help is required.

Additionally, these rules will be in place for reservations that DO have a fixed end date but are longer than 45 days. Those will be treated like monthly reservations: billed monthly, and cancelable with prorated refunds.

We accept various payment methods, and if the monthly payment fails, you may lose your reservation. After a payment fails, we’ll notify you and give you a day or two to update your payment method in the app. If you don’t update your payment method and the charge continues to fail, the reservation will be canceled and you’ll need to vacate the spot.

If you use a credit or debit card, your bank will sometimes pass us updated credit card information when your card is about to expire, so we'll be able to seamlessly continue billing you without any interruption.