PJ Filipowicz, Author at ParqEx https://parqex.com/author/pj-filipowicz/ The Smart Parking Technology Solutions for Self Managed Parking Real Estate Wed, 02 Apr 2025 17:45:54 +0000 en-US hourly 1 https://parqex.com/wp-content/uploads/2024/12/cropped-cropped-icon-76_2x-32x32.png PJ Filipowicz, Author at ParqEx https://parqex.com/author/pj-filipowicz/ 32 32 Protect Your Car (from People Who Can’t Park) https://parqex.com/protect-your-car/ Mon, 03 Jul 2023 16:24:30 +0000 https://parqex.com/index.php/2023/07/03/protect-your-car/ Your car is one of your most valuable assets, and you want to protect it from theft, vandalism, and damage. But how can you ensure your car's safety and security, especially when you park it in public places or leave it unattended for long periods of time? Here are some tips and best practices to keep your car safe and secure.

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How to Keep Your Car Safe and Secure

Your car is one of your most valuable assets, and you want to protect it from theft, vandalism, and damage. But how can you ensure your car’s safety and security, especially when you park it in public places or leave it unattended for long periods of time? Here are some tips and best practices to keep your car safe and secure.

  • Lock your doors and windows. This may seem obvious, but many car thefts and break-ins happen because the owners forget to lock their doors or leave their windows slightly open. Always lock your doors and windows when you park your car, even if you are only leaving it for a few minutes. This will deter opportunistic thieves and make it harder for them to access your car.

  • Use an alarm system or a steering wheel lock. Another way to prevent car theft is to use an alarm system or a steering wheel lock. An alarm system will alert you and others if someone tries to tamper with your car, while a steering wheel lock will make it impossible for the thief to drive away with your car. These devices can also act as visual deterrents, making your car less attractive to potential thieves.

  • Park in well-lit and secure areas. Where you park your car can also affect its safety and security. Avoid parking in dark, isolated, or unfamiliar areas, where your car may be more vulnerable to theft or vandalism. Instead, park in well-lit and secure areas, such as parking garages, lots, or structures that have surveillance cameras, security guards, or access control systems. These features will make it more difficult for criminals to target your car and more likely for them to be caught if they do.

  • Don’t leave valuables in plain sight. One of the most common reasons why cars are broken into is because the owners leave valuables in plain sight, such as laptops, phones, wallets, purses, or bags. These items can tempt thieves to smash your windows and grab them. To avoid this, don’t leave any valuables in plain sight when you park your car. Either take them with you, hide them in the trunk or glove compartment, or cover them with a blanket or a jacket.

  • Use a smart parking app like ParqEx. Finally, one of the best ways to keep your car safe and secure is to use a smart parking app like ParqEx. ParqEx is a platform that connects drivers with private parking spaces that are safer, cheaper, and more convenient than public parking options. With ParqEx, you can find and book parking spaces in advance or on-demand, using your smartphone or computer. You can also access exclusive parking spaces that are only available on ParqEx, such as residential garages, driveways, or lots. These spaces are often more secure than public parking spaces, as they are located in private properties that have less traffic and more protection. ParqEx also offers features like Access+, which allows you to open garage doors or gates with your phone, and GuestParq, which allows you to share access to your parking space with your guests or visitors. By using ParqEx, you can save time, money, and hassle while ensuring your car’s safety and security.

Keeping your car safe and secure is important for your peace of mind and your wallet. By following these tips and using ParqEx, you can protect your car from theft, vandalism, and damage while enjoying the convenience and comfort of private parking.

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]]> Amazing Millennial Real Estate Trends in 2021 https://parqex.com/amazing-millennial-real-estate-trends-in-2021/ Thu, 17 Jun 2021 15:09:58 +0000 https://parqex.com/index.php/2021/06/17/amazing-millennial-real-estate-trends-in-2021/ Millennials are outright leading the pack when it comes to real estate! Here are few of the trends we’ve spotted in 2021.

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Amazing Millennial Real Estate Trends in 2021

 

A millennial might be a term that causes an eye-roll in most conversations, but when it comes to real estate, the millennials are outright leading the pack. This is due, in part, to have had time to grow in their current career options or maybe recently having paid off their student debt, leaving them with a few extra dollars, ready to invest in property. 

For those millennials not quite so taken by van life, investing in real estate is the next option. So whether you’re buying your family home or investing in a condo or loft in a beautiful city, these are a few of the millennial real estate trends we’ve spotted in 2021.

 

Exterior Of Modern Building With Ivy 1024 X 674 1 demonstrating ParqEx's smart parking technology in action.
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Entering The Real Estate Market

 

Innovative ideas to combine technology, environmental consciousness, and location seamlessly slip into their new roles as homeowners. With the millennials’ flair for making the most of what they’ve got, the boomers might soon be looking to the millennials to help navigate the new real estate markets. 

 

Millennials make up the largest demographic in the nation, with over 70 million millennials eagerly waiting to enter the real estate market, making up most of the home-buyers market at a whopping 53.7% in Dallas alone, for example. A study conducted by the National Association of Home Builders concluded that despite a few millennials still choosing to live in the quiet greenery of suburbia, there are a great many of them that are preferring to settle in the city.

Brown House 1024 X 678 1 demonstrating ParqEx's smart parking technology in action.
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With the rise in popularity of gentrification of inner-city suburbs, many millennials are choosing to settle there for many reasons such as accessibility, high-end retail stores, terrific restaurants, and vibrant nightlife. The beautiful Uptown Dallas Apartments to Rent in Dallas is a thriving example of the rise of new urbanism with walkable neighborhoods and various housing options.

Millennial Real Estate Buyer Trends

 

With the economic aftermath of the pandemic still in motion, real estate has only recently become more affordable to millennials. This results from an all-time high national savings rate and the steady decline in interest rates, encouraging more buyers into the market.

 

The majority of millennial buyers seem to prefer newly built homes or recently overhauled or renovated properties.

 

Due to the unparalleled perks of buying a new home, such as having a decreased chance of peril claim, meaning you will be more likely to get coverage for home insurance, millennials opt to buy new homes. Along with this, the older millennials (26-35 years old) are choosing to invest in smart home options that increase ease and comfort. You have your entire house connected to the palm of your hand via your smartphone. This includes lights, your thermostat, security systems, and even your refrigerator and coffee machine.

Millennial Real Estate Sustainability Trends

 

Sustainability is a buzzword almost synonymous with millennials, and the real estate market is no different. Going off the grid was recently reserved for odd families on the Discovery Channel, but millennials have taken this notion and made it an option for your living space. Although gentrified or not, living in the city means less commute time, leaving a less significant carbon footprint. The access to walkable neighborhoods, parks, diverse business opportunities, and having your community right outside your front door is a big factor in drawing millennials to downtown and uptown developments.

 

Another user-friendly aspect of sustainable living is the opportunity to cut your monthly costs by between 20% and 30%. Using the sun to power appliances like heating and power, you save a tremendous amount on power bills.

Man Facing Solar Panels 1024 X 682 1 demonstrating ParqEx's smart parking technology in action.
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When it comes to sustainable homes, millennials are showing a knack for creating a living space that is as beautiful as it is functionally sustainable. 

 

One of the fascinating trends noticed regarding millennial homebuyers is the sudden move out of big cities like New York and Los Angeles. For decades it has been a solid trend that young professionals flock to the bigger cities searching for jobs and dreams, but recent findings from SmartAsset have shown that in 2019 alone, 40,000 millennials left New York City. Most recent migration patterns have shown millennials flocking to cities in states with no taxes on income or salary. These cities include Austin and Frisco in Texas, Seattle, Washington, and Henderson, Nevada. 

In Summary

 

Whether you’ve just paid off your student debt or just started a family, it seems that the real estate market is very much on the side of the millennial with eco-friendly, sustainable living available almost everywhere, no matter where you find yourself migrating to. 

 

Author: Wendy Dessler of The Blog Frog

Remember, if you are migrating with a vehicle and need sustainable parking, ParqEx has got you covered. Need long-term parking? Find a parking spot here.

Migrating without a vehicle and have an unused parking spot? List your parking spot with ParqEx and add another stream of revenue for yourself.

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]]> Exterior Of Modern Building With Ivy 1024 X 674 1 - Smart Parking Solutions by ParqEx Brown House 1024 X 678 1 - Smart Parking Solutions by ParqEx Man Facing Solar Panels 1024 X 682 1 - Smart Parking Solutions by ParqEx The Basic Home Security Checklist Every Home Needs https://parqex.com/the-basic-home-security-checklist-every-home-needs/ Thu, 27 May 2021 19:27:29 +0000 https://parqex.com/index.php/2021/05/27/the-basic-home-security-checklist-every-home-needs/ Neighborhoods have different issues when it comes to security, stay on top of it!

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The Basic Home Security Checklist Every Home Needs

The Basic Home Security Checklist Every Home Needs

 

Different neighborhoods have different issues when it comes to home security. For example, in some neighborhoods, if you checked into a hotel and accidentally left the back door of the car open, nothing would happen. In others, that’s a way to lose not only everything inside the vehicle but the vehicle itself.

 

So there are neighborhoods in places like Wyoming and North Dakota and Idaho and Texas and Nebraska where security isn’t really a big issue. The only theft or home invasion will come from someone with a grudge or other similar agenda. Contrarily, sometimes even putting bars on the windows isn’t enough to safeguard your property. L.A. is like that.

 

Accordingly, wherever you are, you want to understand the security landscape and make some specific choices. Here we’ll cover five considerations that will apply to almost any property.

Blogfrog 1 demonstrating ParqEx's smart parking technology in action.
Blogfrog 1 - ParqEx's innovative technology helps streamline parking operations and access control.

Local Premises – Are You Going To Stick Around, Or Move?

 

Sometimes the security move is to, well, move. There are times when a community or metropolis is in a situation where it’s just not possible to stay secure and stay around. Detroit comes to mind, and so does Los Angeles and New York City, when you consider the events of the last several years in either metropolis.

 

Certainly, it may be wise to stick it out. But also, you might be upgrading to more security in terms of better premises in a good neighborhood. Regardless, if you’ve gotta move, you might as well do so affordably—consider some of the options available at sites like UMoveFree.

Blogfrog 3 demonstrating ParqEx's smart parking technology in action.
Blogfrog 3 - ParqEx's innovative technology helps streamline parking operations and access control.

Door And Window Locks; Perhaps Window Bars

 

Windows and doors need to be strong and lockable. The stronger the glass, the better; sometimes, you want bars behind the windows to offset forced entry. In some neighborhoods, interlopers will try to break through windows provided they don’t see anyone at home. They might do it just as they walk by.

 

If you can’t lock the windows and doors, you’re wide open. There are IoT devices that can lock windows and doors remotely. Smarthomes have their place, certainly, but if you want total security, you’ve got to take care to encrypt such solutions. Smarthomes work, but they can also be hacked.

Blogfrog 2 demonstrating ParqEx's smart parking technology in action.
Blogfrog 2 - ParqEx's innovative technology helps streamline parking operations and access control.

Motion Sensors And IoT Cameras

 

Internet of Things cameras and motion sensors can be monitored remotely with the right app on your device. Essentially, you install the devices, install the smartphone software, and you’ll get a notification when any cameras or sensors are “tripped” by motion. That allows you to keep an eye on your property when you’re not at home.

 

Should a home invader try to burglarize your home, you can call the authorities immediately and provide them with video evidence of the perpetrator. That can help you recover lost valuables should the criminal enter the house despite the warnings.

 

However, with today’s IoT, you can even have a personalized message activate automatically to scare such would-be thieves off. Porch pirates are often startled this way, helping people avoid being stolen from.

 

You can have automatic responses programmed in, or you could yell at them as though you’re talking from an internal intercom when your smartphone notifies you of motion at a camera or sensor.

A Basic Security System

 

Here’s a list of several top-tier home security systems for 2021. Here’s the issue: when you trust security to a company that installs such tech, you’re giving them a back door to your property. Have you heard of Norton Antivirus? It’s software to prevent viruses from impacting tech devices. Well, the “Norton” fellow used to be a hacker but got caught.

 

It’s hard to believe there’s not some backdoor into devices through associated software. But that’s speculation. There have been films and scandals about individuals who install security systems being themselves burglars. So what should you do?

 

Well, if you can install the security system yourself, that’s a big plus. Another option is diversification. Through IoT, you can sort of have an “a-la-carte” security system. You can take what works for your property, avoid spending money unnecessarily and minimize exterior access in the process.

 

Now that said, IoT is hackable, and because increased devices expand the hackable surface area again, encryption is absolutely fundamental. So if you do security totally on your own, be sure you don’t leave yourself vulnerable here.

For Dog People, A Big Loyal Dog

 

Even a small dog can startle a criminal. It’s not always the size of the beast; it’s the commotion they cause. A loud dog barking is jarring. Someone who doesn’t want to be seen will quickly high-tail it. However, a small dog can be silenced through brute force, whereas a large dog can be fatal to some people. So if you’re a dog person, get a big one for security.

Blogfrog 4 300 X 300 1 demonstrating ParqEx's smart parking technology in action.
Blogfrog 4 300 X 300 1 - ParqEx's innovative technology helps streamline parking operations and access control.

Keeping Your House As Secure As Possible

 

Primitive security options include moving to better neighborhoods and big dogs. More advanced options include basic security systems, motion sensors, and IoT cameras. Of course, you definitely want to have strong locks on windows and doors as well. You can manage them remotely with IoT, but be careful to encrypt them properly.

 

If you don’t have the right encryption, hackers suddenly have total control of your house from their own smartphone, which can be a big problem. So an a-la-carte security approach that considers multiple related factors like these represents the thinking you want to bring to your home’s security checklist.

 

Author: Wendy Dessler of The Blog Frog

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]]> Blogfrog 1 - Smart Parking Solutions by ParqEx Blogfrog 3 - Smart Parking Solutions by ParqEx Blogfrog 2 - Smart Parking Solutions by ParqEx Blogfrog 4 300 X 300 1 - Smart Parking Solutions by ParqEx How License Plate Reading Technology is Changing Parking https://parqex.com/how-license-plate-reading-technology-is-changing-parking/ Fri, 28 Aug 2020 22:32:25 +0000 https://parqex.com/index.php/2020/08/28/how-license-plate-reading-technology-is-changing-parking/ Download QR

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How License Plate Reading Technology is Changing Parking

 

New technology is always evolving, and the story is no different in the world of parking. For years, new tools have been in development to help make parking safer, more secure, and easier than ever before. Now, License Plate Reading (LPR) technology is commercial-ready and being deployed in cities across America. So what is LPR and how might it benefit parkers and parking managers alike? Continue reading below to find out how license plate reading technology is changing parking.

What is LPR?

License Plate Reading (LPR) technology uses advanced camera systems to automatically detect, read, and validate the unique sequence of numbers and letters that appear on a vehicle’s license plate. With developments in artificial intelligence and advanced analytics, this technology is incredibly accurate and is now able to consistently deliver correct readings in the field. Thanks to these new developments, LPR solutions have recently been deployed in many different commercial settings. You may already have personal experience using an LPR system, as they have become increasingly common to automate ticketing for highway toll plazas in recent years. But LPR has many other applications being implemented, and in particular, it is poised to revolutionize city parking for both users and management alike.

 

LPR is also known by other names, such as Automatic number-plate recognition, Automatic (or automated) license-plate recognition (ALPR), Automatic (or automated) license-plate reader (ALPR), Automatic vehicle identification (AVI), Automatisk nummerpladegenkendelse (ANPG), Car plate recognition (CPR), License plate recognition (LPR), Lecture automatique de plaques d’immatriculation (LAPI), Mobile license-plate reader (MLPR), Vehicle license-plate recognition (VLPR), and Vehicle recognition identification (VRI).

 

Benefits for Parkers

LPR technology ushers in a new way for parkers to gain entry to secure parking facilities. Compared to traditional access methods, LPR offers countless benefits for users that deliver a better overall parking experience. These include:

  • Automatic Entry

With LPR, registered tenants gain automatic entry as soon as they pull up to the gate. No longer will they need to fiddle with clickers, tickets, fobs, or kiosks. Instead, they are treated to quick, easy access to your parking facility.

  • No Tickets to Lose

Keeping track of parking tickets is a frequent pain point for parkers that can often result in lost ticket fees and great frustration. With LPR, there are no tickets to keep track of, since users are tracked simply by scanning their license plate.

  • Convenient Payment Options

How many times have you returned to your vehicle only to remember that you need to go find a pay station to pay for your parking? With LPR technology, users have the option to pay for their parking via their smartphone. ParqEx makes this option even easier, by seamlessly connecting their LPR technology, Access+ Premium, with their innovative payment platform, Marketplace. With these solutions, payment is always just a few smartphone clicks away for users. This added convenience removes the hassle of needing to find and use a physical pay station.

  • Reduced Traffic

LPR solutions streamline parking entry and exit, opening gates as soon as authorized vehicles approach without the need to interact with a kiosk. This quick access reduces traffic buildup in your parking facility and cuts down on lines that can form at the parking access points.

  • Reduced Wait Time

With LPR systems, there is no need to wait at the pay station/ticket machines in order to complete your transaction. With your smartphone, you can pay for your parking on your phone before ever leaving your spot, creating a fast and easy exit for all users.

  • Security

LPR technology gives your parkers confidence that only authorized vehicles can gain entry to the facility. Additionally, the camera systems used in LPR devices deter crime, by recording the entry, exit, and activities of anyone attempting to gain access to your facility. This added security gives your parkers peace of mind that they can park at your facility without safety concerns.

  • 100% Contactless

With the recent outbreak of COVID-19, many users have increased concerns with touching public surfaces, and understandably so. LPR solutions offer a 100% touchless and contactless way to gain entry to your parking facility. Users will no longer need to fear that they are compromising their safety to gain access to secure parking.

 

Benefits for Parking Management

LPR brings parking facilities into the future and gives management stronger, easier tools to administer their parking. Compared to traditional parking systems, these tools provide increased security, stronger oversight, simpler management, and higher quality parking experiences. Benefits for managers of parking facilities include:

  • Eliminate Tickets and Passes

With LPR, parking tickets and passes are no longer necessary, since vehicles are authorized based on their license plate. This saves management considerable time and headaches, in addition to cost savings, since they no longer need to manage or stock physical parking passes.

  • Higher Customer Satisfaction

With the convenience added by LPR parking systems, customers of your facility enjoy a parking experience that is unparalleled in terms of ease and convenience. The seamless entry, smooth exit, and smart payment options the LPR system offers are proven to keep your customers happy and returning to your facility in the future.

  • Increased Utilization

LPR solutions reduce traffic and waiting times within your parking facility. With less idle time being wasted, and a more accurate count of how many vehicles are in your facility, you can process a higher number of transactions and operate at a higher capacity. Additionally, the superior parking experience and customer satisfaction that results from utilizing LPR will lead to a greater number of repeat customers, driving greater sales for your facility.

  • Security

LPR parking solutions vastly improve the security and safety of your parking facility. With LPR, unauthorized vehicles are unable to gain access to your facility, ensuring that only approved vehicles can enter your premises. The camera systems required for LPR solutions will also record the entry and exit of all vehicles approaching your facility, keeping a detailed log of all vehicles and accompanying camera footage. This information and footage can be easily viewed later if an incident needs to be investigated, greatly aiding any potential law enforcement activities. Furthermore, the LPR camera systems act as a strong deterrent on crime, since any criminal activity could be recorded and stored by the LPR cameras.

  • Streamlined Management

LPR solutions greatly simplify parking management, reducing the time effort required by managers to operate and maintain their facilities. The system automatically tracks every vehicle and logs all payments and transactions in connection to the vehicles that initiated them. This information is logged and can be easily viewed at any time. LPR means that there are no longer physical passes or access devices to manage. Instead, with ParqEx’s Parking Management platform, real estate owners and managers have all the tools they need to add or remove tenants, manage guests, and administer their parking facility, all with just a few easy clicks from their home or office computer, or even their smartphone.

  • Simplified Enforcement

Enforcing parking rules so that only paid and authorized vehicles have access to your facility can be a constant struggle for parking managers. Luckily, with LPR, this process has never been easier. No longer do you need to manually patrol and check for violators. With LPR, every vehicle the enters your facility is logged, and the system knows when they exit. If a customer’s authorized parking window has expired and they have not yet left the premises, managers can get an automatic notification of the violation. ParqEx’s Enforcer app connects seamlessly with their LPR offering, Access+ Premium with LPR, to give managers all tools they need for enforcement right at their fingertips.

  • Eliminate Ticket Swapping

With traditional ticketed parking systems, ticket swapping can be difficult to prevent and threatens to significantly reduce the amount of revenue that operators are able to collect. Thankfully, with LPR, this is no longer a problem. Vehicles are always tracked by their license plate, meaning that there are no tickets to swap, and revenue can’t be lost. Since LPR systems record the license plate of all vehicles that enter and exit, there is no way for customers to dishonestly report how much time they spent in your facility.

  • Reduced Vehicle Emissions and Pollution

LPR systems streamline vehicle entry and exit, substantially cutting down on traffic and vehicle idle time in your facility. As a result, vehicle emissions and pollution that can build up in your garage are reduced. This decreases the amount of ventilation needed in your structure and ensures your customers stay happy and healthy.

LPR in Action

ParqEx has experience in successfully deploying LPR parking technology as part of their Access+ Premium solution. One such example of this solution in action can be found at Lacuna Lofts, a shared workspace and events venue in Chicago’s Lower West Side. Before partnering with ParqEx, Lacuna Lofts’ parking lot was unsecured, and unauthorized users frequently gained access to parking intended for tenants and guests. However, after ParqEx implemented their Access+ Premium with License Plate Reader (LPR) solution, the facility started successfully blocking unauthorized users, while giving tenants and guest simple “drive up and enter” access to their lot.

To learn more, download ParqEx’s case study on Lacuna Lofts and see “How License Plate Reading Technology is Changing Parking” in the real world.

 

Ask Us Today About LPR Solutions

Without a doubt, LPR is the future of parking access and security. It offers several benefits for customers and managers of parking facilities, creating an improved parking experience for tenants and streamlined, more secure operations for management. ParqEx’s Access+ Premium with License Plate Recognition technology is available now and has been proven in the field. If you think that LPR technology could benefit your parking facility, reach out to ParqEx today to learn more about how license plate reading technology is changing parking and how we can help transform your parking facility.

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]]> Multifamily ROI Impacted by Technology Solutions https://parqex.com/multifamily-roi-smart-technologies/ Thu, 16 Aug 2018 03:30:12 +0000 https://parqex.com/index.php/2018/08/16/multifamily-roi-smart-technologies/ From cooking and fitness to driving and parking, IoT has found its place in our daily lives, and it would seem IoT tech is here to stay. Fortunately, the changes these technologies have made are pretty incredible and very positive for real estate owners and property management, making it easy to accept such an enormous…

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]]> From cooking and fitness to driving and parking, IoT has found its place in our daily lives, and it would seem IoT tech is here to stay. Fortunately, the changes these technologies have made are pretty incredible and very positive for real estate owners and property management, making it easy to accept such an enormous shift in the way we do things.

Multifamily ROI

 

As rapid innovation continues with IoT technologies, the results of their combined use are yet to be fully understood. The reverberations of the shift, though, will be felt as an after effect of the sweeping change, the transformation from outdated legacy systems, modes, methods, and tools – to innovative online software solutions in the cloud.

Smart cities are being developed by many individual companies using separate systems that communicate with each other. 

Market Analysis and Knowledgeable Research

One of the most challenging and logistically confusing daily tasks is parking. Traveling around in cities or unfamiliar neighborhoods, drivers are wasting valuable time and money trying to find the ideal parking spot. At the same time, the home parking garage is still a piece of equipment that has yet to fully be integrated into the digital home.

Whether you’re booking your spare bedroom or an entire investment property, where your guest’s park can make a big difference. Garage space provides a protected and homey welcome, but you don’t just want to leave your garage door hanging open until your guests arrive or make them call you to open it.  Multifamily residents currently rely on a non guaranteed reservations for a spot within their garage or guest parking is not even available at the community. Residents also find having to exchange a fob or provide a parking sticker as a means of validation. IoT technology is working together through the innovative cloud and mobile solutions, in order to solve complex logistical issues. The agility and flexibility being offered by the cloud are far preferable to, exclusively, on-premise logistical solutions. 

IoT technology is working together through the innovative cloud and mobile solutions, in order to create business opportunities and solve complex logistical issues. The agility and flexibility being offered by the cloud are far preferable to, exclusively, on-premises logistical solutions.

Sights On The Future of Real Estate Tech

The IoT is always involved when speaking about smart anything, and almost all technology is smart at this point. Smart parking garages are using monitoring devices to detect vacant spaces, then automatically sharing the data to their own systems and any specified partners.

For instance, the parking garage business may want to automate real-time updates of vacancies to the city’s tourist guide mobile app, or event centers’ apps might want their customers to have access to available spaces.

This isn’t to say that all hardware, paper, and analog systems will be completely eliminated, rather, they’ll be reduced and minimized. SaaS, PaaS, and emerging subscription software are allowing SMBs to streamline, expand, and improve the quality of their work and production – this is hard to ignore. Technology is promising to be the best solution for overcrowded city streets, in the U.S. and worldwide.

Competition in this space has generated an increased awareness from the real estate owners and the providers of these technology stressing their importance for growth. The Future of Real Estate Tech continues to push VC’s and startups in this space for a multitude of reasons. No one has found the key to Pandora’s box at this given junction, leaving the door open for challengers to propel the groundwork needed for the sector’s continued growth and development.

Property Management and Residents Look For Education

The real estate community is using technology in ways that make sense for residents. The advantages and opportunities that innovative cloud and mobile technologies offer are promising to solve parking woes and boost the local economy at the same time. Before, solving parking woes would have meant building more parking spaces, which means cities and/or businesses had to spend money, therefore making taxpayers and consumers pay for it.

The IoT, in relation to smart cities, is the technology and online systems being used to create innovative solutions and solve complex logistical issues, such as parking. For instance, parking spot sensors are being used by parking garages and city governments, in order to inform drivers of vacancies (and owners of non-compliance) and navigate them to the spot – all through their smartphones. Technology and the IoT have even shown to play a positive factor on individual health.

Essentially, what makes IoT technology so powerful is its ability to communicate and integrate with other systems and technological solutions within a city or community. Using cloud and mobile computing technology, combined with the nearly universal rate of smartphone usage, the IoT is creating innovative solutions not possible before. Closing a garage door from across the world through a mobile app is a good example.

Listen To The IoT Parking Expert

Multifamily ROIKatie Williams recognizes the lack of movement and innovation within the real estate realm. IoT within the private parking/ multifamily properties are newly discovered and emerging – there is a need to revolutionize and disrupt the current trends and inefficiencies with smart real estate technologies and smarter parking.

Katie realizes there is an underutilization of parking assets in the Chicago and surrounding markets. This is evident by poorly managed private garages offering ease of resident-guest experience or lack thereof. She looks to educate multifamily owners, residents, and property managers on the hidden value of their parking and how IoT technologies serve as a tool for the space. They provide an additional amenity in a space that is always searching for the next best thing, with a value-add to aid in boosting their ROI and bottom lines.

Please reach out to Katie if you would like additional information on how these IoT solutions can help your property today!

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]]> Multifamily ROI Multifamily ROI Future of Mobility…It’s A Smart Movement https://parqex.com/future-of-mobility/ Wed, 18 Jul 2018 21:27:34 +0000 https://parqex.com/index.php/2018/07/18/future-of-mobility/ It’s Not Just Smart Homes and Smart Cities…It Is A Smart Movement Future of Mobility leaders in the Smart Cities Initiatives are convening in Chicago this Thursday, July 19th for the Smart Cities Conference hosted by BuiltWorlds. This event has been bringing together the best and brightest minds to BuiltWorlds most disruptable market which is…

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]]> It’s Not Just Smart Homes and Smart Cities…It Is A Smart Movement

Future of Mobility leaders in the Smart Cities Initiatives are convening in Chicago this Thursday, July 19th for the Smart Cities Conference hosted by BuiltWorlds. This event has been bringing together the best and brightest minds to BuiltWorlds most disruptable market which is cities and infrastructure. These discussions being held are going to cover an array of topics and the experts will help you make sense of the crucial changes coming to our cities, including transit, waste, water, energy, buildings, and social infrastructure.

The highlighted panel conversation on “The Future of Mobility” is moderated by Marketplace.city’s very own Chris Foreman. The supporting cast for this discussion features ParqEx’s very own Founder & CEO, Vivek Mehra, Alex Samoylovich from Cedar Street Ventures, Jerry Quandt, Executive Director, IL Autonomous Vehicles Association (ILAVA), and Sharon Feigon, Executive Director, Shared-Use Mobility Center. BuiltWorlds has shared the following on how this topic will be attacked:

“Autonomous and electric cars will place new demands on the electric grid, create new demands for charging stations and create new opportunities for developing the city in relation to a mobility strategy. This shift will have enormous consequences for how cities are planned in terms of where cars are parked and fueled. Hear from ParqEx Founder and CEO, Vivek Mehra, on how he plans to disrupt the process and what his partnership with Cedar Street Ventures means for the built industry. Gain insights on the impacts and benefits of shared mobility and hear about emerging opportunities related to the growth and utilization of AV technologies throughout the entire transportation network. During this session, panelists discuss the importance of investing in mobility solutions and technology advancements shaping smart cities of the future.”

The panelists in the discussion have quite the background and repertoire, becoming experts in their select fields. Their knowledge provides an in-depth look on what is to come for the smart cities initiatives across the United States. It is amazing to see the horizons they continue to expand on and the technologies used to push the bounds of innovation.

The Who’s Who

Sharon Feigon is a founder and the executive director of the Shared-Use Mobility Center, a non-profit public-interest organization working to foster collaboration in shared mobility and help connect the growing industry with transit agencies, cities and communities across the nation. As executive director, Sharon leads SUMC’s work, which includes conducting innovative research around the impacts of shared mobility, developing pilot projects to test shared mobility strategies, and providing advice and technical assistance to cities and regions in order to help extend the benefits of shared mobility for all. SUMC was also recently awarded a contract to develop the Innovation Knowledge Accelerator in partnership with the Federal Transit Administration to assist cities undertaking Mobility on Demand projects.

Jerry Quandt is the Executive Director of the Illinois Autonomous Vehicles Association. The Association is a privately funded, not-for-profit organization dedicated to the advancement of autonomous vehicle technologies within the State of Illinois. The organization’s focus is to establish Illinois as the leader in the development, design, and application of the system-of-systems that will transform mobility as we know it. He has worked most of his career in marketing and business transformation in a variety of verticals. His passion is to continue to create consumer-centric solutions leveraging bleeding-edge technologies to increase people’s quality of life.

Alex Samoylovich is the founding partner, Chief Executive Officer of CEDARst Companies.  Over the past ten years, Mr. Samoylovich has sourced, invested in and managed in excess of hundreds of transactions and has been instrumental in the acquisition and disposition of real estate with a value in over $1 billion. Utilizing a “fully integrated real estate development” (IRED) approach, Mr. Samoylovich and his partners have seamlessly interwoven acquisition, construction, finance, management, interior design and marketing under one company. In the past 15 years, CEDARst is considered one of the most active acquirers of distressed assets in the greater Chicago area. Under Mr. Samoylovich’s leadership, the company has carved out a niche strategy for the adaptive reuse of underperforming assets through bankruptcies, foreclosure, note purchases, and other distressed situations in the Chicago area; covering a span of product types from multifamily, office, mixed-use, and hospitality. Mr. Samoylovich has cemented a well-earned reputation as a tenacious deal maker capable of closing the most complex and demanding real estate transactions and returning superior risk-adjusted returns to his investors.

Chris Foreman as Chief Executive Officer of Marketplace.city Chris drives the company’s revenue and growth by building their powerful network of technology providers. Prior to Marketplace.city, Mr. Foreman served as CEO of the Americas for AvePoint, Inc. While at AvePoint, Mr. Foreman helped lead the company’s growth from a small team to over 1200 employees in 15 countries and drove the expansion into government by launching an independent subsidiary, AvePoint Public Sector, Inc. where he served as CEO and Chairman. AvePoint won 3 consecutive Microsoft Partner of the Year awards during Foreman’s tenure. Previously he worked at Nutech Integrated Systems where he oversaw enterprise sales initiatives focusing on healthcare, archiving, e-discovery, and records management. He has actively worked in the enterprise software industry for 15 years.

Vivek Mehra as Founder & CEO of ParqEx will be one of four panelists on the Main Stage discussing “Future of Mobility.” ParqEx is a private parking platform that gives the opportunity to connect renters with new avenues of parking with local individual owners that have underutilized spots. Our mission is to solve a huge problem by disrupting the entire market – and we’re doing so in a way that benefits the people of every community. We believe that people of every urban community can help solve the parking crunch by sharing what they already have.

What To Expect?

Chris will challenge the leaders to focus on topics which center around the outlook for autonomous vehicles and the need for parking spaces. What trends will come to the forefront and how cities will need to make necessary design structure implementations to adapt. What kind of burdens will residents, companies, and cities face in the short-term and long-term?

ParqEx collaborates with BuiltWorlds on a couple publications and was featured in 50 hottest technologies for smart buildings. We are excited to be on this panel discussion for this annual smart cities conference and looking to further our relationships with the real estate technology community.

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]]> 5 Steps To Wax Your Car Like A Pro https://parqex.com/5-steps-to-wax-your-car-like-a-pro/ Tue, 13 Mar 2018 15:26:36 +0000 https://parqex.com/index.php/2018/03/13/5-steps-to-wax-your-car-like-a-pro/ 5 Steps To Wax Your Car Like A Pro   ParqEx loves featuring guest writers, especially when they have a mission to share on the nature of the car industry. If you’re interested in finding some travel preparation regarding a road trip you’ve come to the right place! This week, we’re proud to feature a blog…

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]]> 5 Steps To Wax Your Car Like A Pro

 

ParqEx loves featuring guest writers, especially when they have a mission to share on the nature of the car industry. If you’re interested in finding some travel preparation regarding a road trip you’ve come to the right place! This week, we’re proud to feature a blog on Steps To Wax Your Car Like a Pro from Dan at Carbibles. Car Bibles discusses an array of topics regarding vehicles ranging from the best products and care for your car. If you’d like to author a guest piece for ParqEx, let us know at marketing@parqex.com

Spending too much will not be necessary in order for you to get a desired great looking finish for your vehicle. The process of polishing your ride with a rotating wheel is called “wheeling”. This process involves heating the car paint’s outer surface, wherein blemishes will be removed. It is advised by professionals and auto detailing shops to limit this process to once a year. This is to avoid permanent damage to your vehicle’s paint surface. The following procedures below will aid you in waxing/polishing your vehicle the way the experts do in a very short period of time.

 

First Step

Let’s start by first washing your ride which is preferably in a shaded area. Make sure you wash your vehicle appropriately to avoid further scratches when the wax will be applied later. After washing, please take note not to thoroughly dry your vehicle yet.

 

Second Step

Get a slightly damp pad that is clean and place it on your polishing wheel. Apply a sufficient amount of compound on you’re a single body panel. Evenly spread the polish using the polishing wheel using only moderate speed. Take note that the wheel should be parallel to the car’s body surface to avoid swirl marks and maintain constant pressure. Repeat this motion back and forth over the body surface of the panel. In continuing this process, the clear coat would heat up. Eventually, you would notice that certain light scratches or damages would start to go away. Right after, the desired finish would also be visible. Apply this process to the rest of the panels of your vehicle as well.

 

Third Step

 You would notice that the foam pad accumulates compound. Wash it with a power washer, if you have one on hand, so that optimum results would be attained. Make sure, of course, that the whole vehicle is polished evenly and avoid burning finishes on certain edges of your vehicle.

 

Fourth Step

You may wash your car with a power washer lightly, or as recommended – wash it by hand and dry it entirely. 

 

Fifth Step

 Now, put a soft, clean foam pad on your orbital sander. Place the appropriate amount of paste wax and finishing polish. In addition, make sure you are using a good wax for best results. Work it at moderate speed, and with light pressure, spread it on to your car or vehicle evenly. Once this is done, it is advised that you use a microfiber cloth or towel to finally wipe the entire body surface of your ride.

 

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]]> Auto Care Steps For A Stress-Free Road Trip https://parqex.com/auto-care-steps-for-a-stress-free-road-trip/ Tue, 20 Feb 2018 22:46:03 +0000 https://parqex.com/index.php/2018/02/20/auto-care-steps-for-a-stress-free-road-trip/ Auto Care Steps For A Stress-Free Road Trip   ParqEx loves featuring guest writers, especially when they have a mission to share on the nature of the car industry. If you’re interested in finding some travel preparation regarding a road trip you’ve come to the right place! This week, we’re proud to feature a blog on…

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]]> Auto Care Steps For A Stress-Free Road Trip

 

ParqEx loves featuring guest writers, especially when they have a mission to share on the nature of the car industry. If you’re interested in finding some travel preparation regarding a road trip you’ve come to the right place! This week, we’re proud to feature a blog on Auto Care Steps For A Stress -Free Road Trip from Peter at Car Ninja. Car Ninja discusses an array of topics regarding vehicles ranging from small compact vehicles to SUV’s. Peter as a writer is an ardent car lover, he writes almost everything about cars ranging from Product Reviews, Automobile News & Beginner Tips for learning any new Car Technology. If you’d like to author a guest piece for ParqEx, let us know at marketing@parqex.com

How about going on a road trip to celebrate the summer, school is finally out and you need a break from the normal routine. Sounds like a plan but what would even be better is taking the necessary steps to take care of your car so it does not become a bother or a hindrance to you during this period. Issues of flat tires and dead batteries can be prevented by an inspection of your vehicle before the trip. This can be done by regularly servicing and maintaining the vehicle. Whether you do it on your own or you give it to a trusted service provider, just ensure to get the inspection done on your vehicle.

The following are some of the steps that you need to take care of when inspecting your vehicle;

Check The Battery

Check whether the battery is properly functioning that means it should not be undercharging or overcharging. Excessive heat on the battery will shorten the battery life.

Check The Tires

Check the tires to ensure they have enough pressure or increase it in case it is running low to decrease instances of getting a puncture. Also, check the treads from the tire to ensure they are not worn out. This is to provide a great grip and stability in poor weather conditions. Also, perform a wheel alignment on the wheels and check for bulges and bad spots.

Check All The Fluids

Check for the liquids that are used in the car such as the engine oil that is used to service the engine. The brake fluids should also be in check to ensure there is no friction within the brake pads, therefore, reduce instances of accidents that driver cannot be held accountable for. The coolant should also be filled regularly to ensure that the engine does not heat up. The windshield washer solvent should also be filled, this is to ensure that the windshield is clean at all times so as to ensure visibility for the driver and clarity.

Check The Wipers And Lighting

Check that all the lighting is properly functioning in the vehicle, this will actually be of utmost importance especially when driving at night to be able to see road users and to also be visible to them. Be it the headlights or the parking lights both are essential to the proper functioning of a vehicle. The wipers also need to be in proper condition and should be replaced whenever they are worn out so that you can clearly see the windshield in moments when it is misty.

Check The HVAC

That means check the heating, ventilating and air conditioning system to ensure they perform their functions properly. They should cool the car to ensure interior comfort when driving.

Check Emergency Kit

Check to ensure you have a first aid kit and a lifesaver hazard sign well placed in the vehicle in case of any emergencies that may occur.

 

It is therefore imperative to ensure that the above steps are followed before deciding on going for a road trip to the Aberdares with your loved ones or colleagues at work. They are very basic steps such as checking your battery, checking the tires and checking the fluids in your car. These are important as they ensure the safety of your engine thereby preventing you from a number of accidents that may occur. You will be able to ensure these checks are done by visiting your trusted garage for your regular servicing and maintenance of your vehicle. When all these are done you can now enjoy the trip.

 

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]]> Best Alternative Ways To Celebrate Valentines Day https://parqex.com/best-alternative-ways-to-celebrate-valentines-day/ Wed, 14 Feb 2018 17:52:55 +0000 https://parqex.com/index.php/2018/02/14/best-alternative-ways-to-celebrate-valentines-day/ Best Alternative Ways To Celebrate Valentines Day. Valentines Day is a holiday that is about celebrating time with loved ones. The toughest decisions usually faced by individuals is how they will show their affection whether by giving a gift, taking their significant other out for dinner, or just spending quality time in their humble abode.…

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]]> Best Alternative Ways To Celebrate Valentines Day.

Valentines Day is a holiday that is about celebrating time with loved ones. The toughest decisions usually faced by individuals is how they will show their affection whether by giving a gift, taking their significant other out for dinner, or just spending quality time in their humble abode. Valentines Day has become an almost $20 billion dollar industry and it will not be getting any cheaper any time soon. We have provided some cost alternative ways to be the best significant other you can be. Impress this Valentines Day without breaking the bank.

Flip The Script

Did you wait until the last minute to look for a place to take your significant other out and everything is now booked? That’s honestly okay for this holiday typically couples who choose to dine out for their Valentines Day spend around $170 dollars. A great alternative to this would be staying in and cooking dinner for that special someone. There are hundreds of simple recipes that you can follow for both to enjoy. You dont have to be an all-star chef to create an all-star dish.

We have handpicked some of the best ideas on a Romantic Menu For Two from Delish. Fan of Sea, it looks like the dishes prepared to wow are going to be Lemon Garlic Shrimp, Crab Alfredo, Garlic Butter Shrimp Pasta, Linguine With Clams, and Cheesy Baked Shrimp Scampi Dip. All of these recipes can be mix and matched with ingredients of choice, you typically see that purchasing pre-cooked or frozen shrimp will be much more ideal and health safety conscious.

For the meat lovers in the room you can never go wrong with a steak or tenderloin roast. Indulge in the buttery, delicious beef tenderloin roast of your dreams with simple spices and rosemary prepared in less than an hour. Want to cut the cost of having to order or what would be to prepare and appetizer? A Caprese steak offers you the best of both worlds add your favorite seasonings and spread some fresh mozzarella, Roma tomato, and basil on top and you will be good to go. Need to spice it up combine spinach and artichoke into a roll up with a nice skirt steak.

No meat, no seafood, vegetarians rejoice! Explore some great tasting options with the 5 Cheese Marinara, Cheesy Lemon Garlic Pasta, Toasted Garlic Butter Ravioli with crushed red pepper. These options are something spectacular and give you an alternative if your dietary restrictions or personal choices guide you in this direction. But don’t worry all of these recipes are flavor packed and sure to not disappoint.
But saving the best for last would lead you to baking the delectable delights. We found the tastiest and eye popping bites are going to be the Red Velvet and Skillet Cookie and the Mocha Truffle Bars. These recipes are simple enough for the most novice of cooks but can far exceed your loved ones expectations. All of these recipes may keep you in the kitchen but something original and home made can make it that much more special.

Catch A Movie

Dinner is always the cliche for Valentines Day, but what if you could find the two for one deal dinner and a movie you have found a winner. There are multiple theaters around Chicago that will offer this combo deal.
AMC DINE-IN Block 37 – In the heart of the loop you can experience the latest movies to be released with a full menu to dine in as well. They offer anything from the traditional popcorn and candies to a full menu which includes the likes of Loaded Brisket Fries as an app. Enjoy an entree in the shape of a Artisan Pepperoni flatbread, an Asian Steak & Shrimp bowl, a Smoky Jalapeño Burger, or a healthy alternative Chopped Cobb salad. Reclined assigned seating gets you in the right spot and in your acoustic zen. Don’t worry about parking we have you covered here.
AMC DINE-IN 600 N Michigan 9 – In the bustling River North area take time to relax in the reclined assigned seating. Splurge on the evening with an appetizer of Loaded Bacon Tots, feed your wild side with a Philly Steak flatbread, or enjoy a Avocado Chicken Grilled Sandwich. Prices for movie theathers of this caliber you will see it make a slight dent into your pocket but not near the impact it would have attending one of the restaurants in the area for a Valentines Day out.
Something that we forget when we are wrapped up in social media influences, we need to put down our phones to spend the time with the ones we care about even if it is for a special occaision. It does not have to be about a significant other per say, it can be spending time with your favorite pet or enjoying the company of family and friends. Most of all invest in yourself and celebrate all of your accomplishments to this point!

 

 

 

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]]> Q & A: How Chicago’s ParqEx Found Its Perfect Space https://parqex.com/q-a-how-chicagos-parqex-found-its-perfect-space/ Wed, 07 Feb 2018 17:31:59 +0000 https://parqex.com/index.php/2018/02/07/q-a-how-chicagos-parqex-found-its-perfect-space/ Q & A: How Chicago’s ParqEx Found Its Perfect Space   ParqEx loves featuring guest writers, especially when they have a mission to share on what ParqEx is and how it is great for communities. If you’re interested in finding workplace Q & A stories you’ve come to the right place! This week, we’re proud to…

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]]> Q & A: How Chicago’s ParqEx Found Its Perfect Space

 

ParqEx loves featuring guest writers, especially when they have a mission to share on what ParqEx is and how it is great for communities. If you’re interested in finding workplace Q & A stories you’ve come to the right place! This week, we’re proud to feature an interview with Vivek from Ioana Ginsac at Commercial Cafe. Commercial Cafe discusses Real Estate News and Q & A sessions with Founders or C-Level Execs to its readers from stories across the country. Commercial Cafe is apart of the Yardi Network Systems spanning multiple cities across the United States. If you’d like to author a guest piece for ParqEx, let us know at marketing@parqex.com

Most new companies are the fruit of a problem-solving idea. Whether it’s keeping their healthcare spending orderly or providing high-schoolers with tailored guidance and test prep, entrepreneurs have to go through the hurdles of building a company, before they can deliver their idea as a solution to others.

We’ve been conducting a series of Q&As that address what is possibly the most common problem new companies face: finding the best space in which to operate. We sat down with several industry professionals, in order to gather insight on the modern challenges faced by small-to-medium-sized businesses looking for office space. We also wanted to gauge their opinion on which is best: traditional office or modern co-working space?

Parking a Start-up in Chicago’s Busy RiNo

Our series continues this week with tips and observations from ParqEx, a technology company that caters to car owners driving in urban areas where parking demand is high, yet supply is considerably scarce and/or expensive. We spoke to CEO & Founder Vivek Mehra and Marketing Associate Alan Foresta about their quest for the best office space.

The company launched its app in 2015, and gathered 600 subscribers during its first month, initially only covering residential parking spaces in Wrigleyville and the West Loop.

While it started out in a co-working office, the company now operates out of 325 W Huron St. in Downtown Chicago, with 12 full-time employees and a few part-time contractors. The ParqEx database now also covers Milwaukee, Madison, San Francisco, Washington, D.C., and Los Angeles, with plans to further expand in 2018.

Read the interview below to see how they managed to keep ParqEx in Chicago’s busy River North.

Q: Tell our readers a little bit about your business: what industry are you in and what services do you provide?

 

A: ParqEx is a technology platform that unlocks the hidden value sitting idly in privately owned parking spaces.  Most people typically think we’re in the parking industry because we deal with parking spaces, but we actually consider ourselves part of the real estate ecosystem. Parking spots are really just small pieces of real estate, and our goal is to help maximize the value of those pieces for all the entities that own, manage, or use them.

We do this by providing a set of services, which can be applied depending on the circumstances of the property in question. For locations that have underutilized parking spots, we offer the ParqEx Private Parking Marketplace, which monetizes these by connecting the owners with drivers in need of a place to park—a concept similar to Airbnb, but for parking.
Since many private parking spots are securely located behind garage doors or gates, ParqEx also offers a unique IoT-powered solution called Access+, which controls these entryways using the ParqEx app. The Access+ service helps fuel the Marketplace by making it easier to rent secure parking locations, and it also offers great value to property managers, by removing the costs and headaches of traditional entry methods such as clickers, fobs, or codes.

Finally, the third offering in our platform is a full-service guest-parking suite called GuestParq. It is designed to provide multi-family condo and apartment buildings with an improved way to offer, manage, and enforce the parking offered to guests.

Q: Where is your office space located and what did you consider when searching for it? Did you use a third-party company?

A: Our office is located in the River North neighborhood of downtown Chicago.  As a startup, cost and flexibility were our most important considerations. We were previously based in a co-working space, which was ideal for our earliest stages. However, it started to become too expensive and unwieldy, as our team grew. We, therefore, needed to find something that was furnished and wasn’t a long-term commitment, on relatively short notice. In other words, we needed to find a quality sublease. Location was also part of the equation, but the other factors were always going to dominate.

We used Transwestern to help us with the search and to negotiate the sub-lease terms. They helped us identify an office that met all of our immediate needs, and, luckily, it was also located in a great part of the city.

Q: What do you think is the most important thing when searching for office space?

 

A: It is really important to have a clear understanding of the difference between your “needs” and your “wants.” We knew what we needed in terms of size, cost, and timing, and those factors drove the decision process. When you’re out looking at potential locations, it is easy to visualize how a certain space could work or how certain features would be really neat—so if you’re not grounded in the couple of key needs for your organization at that time, it is easy to make a decision that you may later regret.

Q: What challenges did you encounter in the process of leasing/buying the office space and how did you deal with them?

 

A: Timing was difficult for us because we needed the process to happen much faster than it usually does. We had to be out of our co-working space by a certain date and had started our search process late, so we were under the gun. This is where our Transwestern broker was extremely valuable because he brought relationships and knowledge that helped streamline the process for us.

Q: How do you feel about co-working spaces?

 

A: Co-working spaces are a great option for certain working situations. They provide smaller organizations with a “plug-and-play” setup that offers the type of flexibility that a traditional office lease simply cannot. That is huge for early-stage startups, independent contractors, and regional expansion teams of larger companies. Many co-working spaces also help to foster the type of collaboration that these smaller entities crave, by encouraging both social and professional interaction. We both enjoyed and benefited from our experience at WeWork and would do it all over again if we could.

Q: What would you recommend to other start-ups looking for office space?

 

A: Early-stage start-ups should really think hard about whether they’re ready to take on the commitment of signing a lease of their own, or whether the flexibility of co-working is a better option for them. If they know they’re ready to take the plunge, they should be careful not to bite off more than they can chew, because the monthly lease payments can add up quickly and shorten the company’s runway.

 

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