When deciding where to purchase or rent property, several factors regarding location, price point, and size will influence your home-searching process. However, many other considerations also come into play, specifically if you plan to own and drive a vehicle. When debating where to purchase property, you will likely need to determine where you will park your car.
Parking can have a tremendous impact on a property’s perceived value. In dense metropolitan areas, including Manhattan, a residence with a reserved parking space can charge more in rent or the purchase price. In cities with competitive parking situations, many online listings advertise their parking space as a high-value item to entice renters and buyers. On RealtyHop, buyers can specifically search for properties with assigned parking.
Depending on where you live, your prospective landlord may have to inform you about your current parking options. This disclosure might include where you are allowed to park, where you are entitled to park (something a bit different), and the type of parking you will be allowed or required to do. Some parking disclosures may explain that you are only allowed to tandem park. Continue reading to learn more about tandem parking and how it can influence a prospective property’s value.
What is Tandem Parking?
Tandem parking is a specific type of parking arrangement where a single property owner or renter receives one parking space that fits two vehicles. The parking spot orients vertically rather than horizontally, creating a configuration where one car parks in front of the other.
This configuration means that when someone parks car number one, car number two comes into the spot and blocks car number one in its spot until car number two moves. This means that once the second car parks, the first car remains stuck in the spot unless they move the car out of the tandem parking space.
To further define tandem parking, refer to the following image:
Someone who decides to purchase or rent a property with a tandem parking space should ensure they can easily communicate with the person they decide to operate the second vehicle in the spot. Roommates, couples, and family members can utilize a tandem parking space effectively when they have strong communication regarding schedules and car moving needs.
Is Tandem Parking a Good Idea?
Whether tandem parking is a good idea will depend on various factors, including where you currently live and if there are any other parking options currently available.
Naturally, most homeowners or renters prefer a parking arrangement where both vehicles can leave whenever they want. Having to ask somebody to move their car for you to leave, regardless of your relationship, can often be a significant hassle and strain relationships. If you ask someone to move their vehicle late at night or early in the morning, it can create tension and possibly annoy the other person.
However, you’ll find a lot of situations in which tandem parking is the only accessible option. Though tandem parking isn’t the perfect solution in every situation, it is undoubtedly better than having to park on the street or pay for a parking garage space in a hard-to-access location. In a situation where tandem parking remains the only option for parking on the property, it often beats parking in other locations.
Renting or buying a home with tandem parking could be a good idea. If you have a car and live in a high-density neighborhood, such as New York or Chicago, this might be the most feasible parking option currently available.
If you are considering a place with tandem parking, ask yourself the following questions:
- How many vehicles do my roommate(s) and I currently own?
- Are there currently any other parking options available?
- How closely does my schedule align with the person I’ll share the tandem parking spot with?
If you are in a situation with limited options and can find a system that works, investing in a tandem parking space can be an excellent option.
