How to Earn $925/Month Renting Parking Spaces

Nick Copland, a 42-year-old real estate investor based outside Portland, Oregon, has discovered an unconventional yet highly effective method for generating passive income. Alongside his wife Shannan Copland, he has built a substantial real estate portfolio that now includes renting out unused parking spaces.

What began as a side experiment has evolved into a sophisticated business model. The couple's strategy emphasizes financial freedom, family time, and scalable revenue streams that operate with minimal daily intervention. Their experience demonstrates how traditional real estate assets can be leveraged for additional income beyond standard rental operations.

Nick's entrepreneurial journey began long before his current success. As a child, he sought out various money-making opportunities—from mowing lawns to stump grinding—always valuing the freedom to earn on his own terms. This mindset eventually led him away from traditional employment.

From 2010 to 2018, he held multiple corporate leadership positions where he developed foundational skills in operations, project management, and process design. In 2019, he and Shannan began experimenting with short-term rentals as a side project while maintaining their jobs and raising two young children.

Their real estate journey started with glamping tents, which they built and managed themselves. This hands-on experience taught them hospitality fundamentals. When a job relocation brought them to Oregon during the pandemic, they began house hacking—renting the lower level of their home to traveling professionals.

This pivot led them to discover the mid-term rental (MTR) niche, catering to nurses, consultants, and families in transition. By reinvesting every profit, they grew their portfolio to 13 properties across owned and rental-arbitrage units, eventually surpassing their former combined W-2 income.

Once their portfolio reached a stable size, the Coplands began exploring ways to maximize each property's earning potential. In August 2021, they joined Neighbor, a storage and parking marketplace that connects property owners with people needing space for vehicle storage.

The concept is straightforward: they list unused spaces on their properties—driveways, empty lots, and fenced yards—on the platform. Renters book these spaces monthly for long-term storage of cars, boats, RVs, or trailers. The process is remarkably hands-off.

"Once listed, renters book monthly, and we receive automatic payments—no showings, no maintenance, and minimal communication."

The financial returns have been significant. Their Neighbor listings typically generate around $925 per month, depending on the property and space size. Since joining, they have generated nearly $30,000 in profit with almost no ongoing effort. Neighbor does take a small fee from each rental, but the net income remains substantial.

Renters appreciate the arrangement for several reasons: proximity to their needs, better pricing compared to traditional facilities, and the ability to work directly with an individual rather than a corporation. Additionally, some customers choose this option because traditional storage facilities may not accommodate their specific vehicle types.

The Coplands' complete real estate portfolio now generates a consistent five-figure monthly income from mid-term rentals, with Neighbor adding an extra layer of predictable, hands-off cash flow. This success has fundamentally transformed their daily routine.

Unlike the corporate grind they left behind, their workweek now centers on strategy and system building rather than daily management. They dedicate a few hours daily to MTR Authority, their coaching program that helps other investors build and scale mid-term rental operations, while their property management systems handle most rental operations.

This efficient structure allows them to work only 25 to 30 hours per week, leaving the remainder for family time and travel. Working together has become one of the best parts of their journey. They balance each other's strengths: Nick handles sales and finance, while Shannan manages marketing.

"The key to making it work is communication and clear boundaries. We schedule 'no work talk' time and treat our business meetings like any other professional commitment."

For other couples considering a similar path, Nick advises setting shared goals and defining clear roles early. Respecting each other's strengths transforms the partnership into a significant advantage.

For the Coplands, what they have built extends far beyond income generation—it represents a fundamental redefinition of wealth. Real estate and the Neighbor platform have given them the ability to buy back their time and design a life around their family, not around a job.

Their approach demonstrates that overlooked income streams can be discovered in everyday assets. They started small, remained consistent, and treated every space—even empty spots—as a potential revenue source. This mindset shift proved transformative.

Their story illustrates that financial freedom isn't always about massive, complex investments. Sometimes, it's about recognizing the latent value in what you already own and leveraging technology platforms to connect with those who need what you have available.

"Real wealth is quiet, it's the peace of knowing your time is your own."

This philosophy has become their guiding principle, shaping not just their business decisions but their entire approach to life and family priorities.

The Coplands' experience offers a compelling model for those seeking additional income streams without the complexity of traditional real estate management. Their success with Neighbor demonstrates how technology platforms can create opportunities for passive revenue from underutilized assets.

Key principles from their journey include starting small, maintaining consistency, and viewing every potential asset through the lens of income generation. The strategy requires minimal upfront investment beyond owning property with unused space, and the ongoing time commitment is negligible once listings are established.

For investors and homeowners alike, this approach represents a practical entry point into passive income generation. It requires no specialized skills, carries low risk, and can be implemented alongside existing real estate strategies or as a standalone venture.