Do you have a garage that’s not being used? Or an attic that’s sitting empty? Perhaps your driveway lies idle all day? Is there a corner of your garden no one ever goes? 

Spacer (www.spacer.com.au) is an online marketplace that connects people with spare space, called hosts, to people who need space, called renters, within the convenience of their own neighbourhood.

Spacer was founded by ex-Deals Direct CEO Michael Rosenbaum, and former private equity professional, Roland Tam.

Rosenbaum explained how he came to the concept. "At the beginning of the year I spent the better part of a month in Silicon Valley meeting up with entrepreneurs. I really immersed myself in the scene. And I fell in love with the sharing economy over there. I used Uber wherever I went. I tried to use Air BnB wherever I could. I saw all these really cool sharing economy plays.

"I did quite a bit of research, and found that self storage is so expensive and inconvenient," said Rosenbaum. The self-storage market is a $750 million industry in Australia, with a growth rate of 1.9%. High fees, hidden costs, and inconvenient locations make the industry ripe for disruption.

"I thought there’s got to be a better way. Why not share the space that’s right around us - garages, attics, front lawns."

Spacer creates a marketplace where users can share space within the community. As Australian cities move towards denser housing, storage space is going to be an increasingly significant problem.

"I think there’s a value proposition on both sides of the equation. One is that the host, the people who have the space, can make additional income. And then on the other side of the equation, the people who need space, can save around 50% on what it would normally cost in traditional storage facilities, and also have the luxury of having it stored around the corner from them, instead of having it stored 10 kilometres away in a big industrial warehouse."

Rosenbaum has been developing the concept this year, and went live with a soft launch in September. They had 50 active users test the platform and provide feedback, and help the developers optimise the site. The site officially launched last week.

Trust is an essential component of Spacer’s business model. Every host and renter is verified. Spacer manages billing on behalf of hosts, and offers a property and goods guarantee, essentially insurance, to protect both parties.

"Spacer also has the added advantage of no-lock-in contracts, you pay month-to-month, and there are no hidden fees," explained Rosenbaum.

The concept has possibilities for the business to consumer segment, and overseas. Rosenbaum said, "As we gain traction, and we grow the business, we’ll be looking to roll out into other markets. Our vision is to be the number-one market place."

www.spacer.com.au