Like the real estate market in Boston, the parking rental market has its own set of norms, rules, and vocabulary. For newcomers, it can be a bit confusing to navigate this world without a primer on the lingo. Check out this quick glossary of terms related to buying, renting, and selling Boston parking spaces.
Peak vs. Off-Peak Parking
Peak and off-peak refer to the time of day, and day of the week, that your parking rental is available to you. Peak parking means it is available during the day on weekdays, and off-peak means nights and weekends. In Boston, the specific time frame for peak parking is usually weekdays from 6 a.m. to 7 p.m. For off-peak, the time frame is from Friday at 7 p.m. to Monday at 6 a.m., and weekdays from 7 p.m. at 6 a.m.
Long-Term vs. Short-Term Parking
Long-term and short-term refers to how many consecutive months your parking space lease lasts. Long-term parking rentals are yours for six months or longer, and short-term rentals last fewer than six months.
Typically, you hear the phrase deeded parking in reference to the parking space you buy with a condo. But it really just means a parking space or group of parking spaces that you own. You can buy deeded parking outright or finance it. And once you own Boston parking, you can choose to rent it out – and we can help.
Seasonal storage
Seasonal storage means your car is protected from the weather – the snow during the winter, and pollen during the spring. Typically, a seasonal parking space would be in a garage, and only available during the winter and spring months.
