Hidden Costs of Poor Parking Management for Property Managers
Okay, even if it pains us to admit it, we know parking isn’t usually the first thing property managers think about. Between handling maintenance issues, maintaining the property, any leasing concerns that may arise, and tenant communications, parking can feel like just another box to check.
But here’s the thing: ignoring your parking setup might be costing property managers and their properties way more than you think.
Bad parking management leads to lost revenue, tenant frustrations, endless complaints, and even legal headaches. If you’re not actively managing your parking, you’re likely losing money, residents, and time.
Keep reading, and we will demonstrate why parking management for property managers isn’t just important—it’s essential and show how ParqEx can help you get it under control.
1. Your NOI Is Probably Suffering
Net Operating Income (NOI) is one of the most unmistakable indicators of your property’s financial situation. And poor parking management eats away at it in far more ways than you might notice right away.
Here’s what that looks like:
- Cars are coming and going without paying
- Staff are wasting hours checking permits and writing tickets.
- Empty spots sit unused when they could be generating revenue.
What ParqEx Can Do
ParqEx’s LPR (License Plate Recognition Parking) and Pay-on-Exit technology closes those revenue gaps. Our system tracks every car that comes and goes—and charges accordingly—no more missed payments or relying on an old honor system.
One property we work with was recovering 2 to 3 unpaid exits every single day. During weekends or events? That shot up to 15–30 missed payments a day. That’s real money.
With Access+ (ParqEx’s parking access control), residents and approved guests can enter straight from their phones—no extra staffing or outdated key fobs needed. (A bonus here? Eliminate the cost of lost fobs, keys, clickers, etc.)
Smart parking management for property managers means less hassle, fewer losses, and a healthier bottom line.
2. Tenants Leave When Parking’s a Pain
Let’s face it: if tenants are annoyed by their parking situation every day, they probably won’t renew their lease.
If people are constantly:
- Finding someone else in their assigned spot
- Dealing with guests getting towed or ticketed
- Feeling like enforcement is random or unfair…
…then they’re probably not going to stick around.
What ParqEx Can Do
ParqEx makes parking something your residents don’t have to think about—which is precisely how it should be.
With our app, tenants can:
- Reserve and manage their own spaces.
- Handle guest parking management on their own and send digital guest passes in seconds.
- Count on real-time license plate enforcement to keep things fair.
This kind of smooth, reliable parking management for property managers helps reduce the churn and keep your residents happy—and that directly supports your NOI.
3. Parking Complaints? Yeah, We’ve Heard About Those
When parking isn’t working, your team hears about it. A lot. Emails, angry calls, one-star reviews—you name it. It eats up time, frustrates staff, and makes your property look bad online.
“A bad parking experience shows up in more than 11% of negative online reviews—making parking one of the leading drivers of reputation damage, ranking higher than affordability, rent increases, noise, or even amenities.” Multifamily Executive
What ParqEx Can Do
We help take parking off your complaint list. Here’s how:
- Digital permits and guest passes make everything traceable and fair.
- Custom parking signage communicates policies, so no one’s confused.
- Dashboards and alerts let your staff see what’s going on and jump in before issues get worse.
When parking management for property managers is handled correctly, your team can spend less time dealing with resident complaints and more time improving the community.
4. Don’t Let Parking Become a Legal Problem
When things go wrong in the parking lot, it’s not just annoying—it can sometimes become a legal issue.
We’re talking about:
- ADA non-compliance
- Accidents in unmonitored areas
- Disputes over unfair enforcement (ie, tows, boots, tickets, etc.)
What ParqEx Can Do
ParqEx helps you stay covered. Every vehicle that accesses your property is logged and timestamped, which means you’ve got a clear record when you need it. Our tools also help you track and manage ADA and family-accessible spots so you stay compliant and reduce the risk of the misuse of ADA spaces.
Reliable and consistent parking management for property managers is a crucial way to avoid liability, ensure smooth parking operations, and even provide an added sense of security that can help you sleep easier at night.
Parking Doesn’t Need to Be a Problem Anymore
At its core, parking is actually not a headache; it is an asset of your property—if handled correctly.
With ParqEx’s smart parking solutions, property managers get:
- Complete control over their property’s parking spaces.
- Seamless and streamlined parking access for their residents and guests.
- Strengthened enforcement, reduced parking violations, and higher parking compliance.
- Avenues to maximize parking revenue through LPR and pay-on-exit parking technology.
- Clear parking data and analytics to help you make smarter parking management decisions.
Whether you manage multifamily buildings, HOAs, or mixed-use properties, parking management software is no longer optional—it’s a must-have.
Use ParqEx’s Parking Management for Property Managers & Stop Losing Money
ParqEx’s smart parking management software is built specifically for property managers. Our tech-driven solutions—like license plate recognition (LPR), automated parking enforcement, and digital guest parking—help you take control of every space, keep residents and tenants happy, and maximize your property’s Net Operating Income (NOI).
Book a demo today to see how our smart parking solutions can turn your parking lot into a revenue generator instead of a daily headache.
