It is a fact property managers have a lot on their plate. Besides continuously brainstorming ways to lower expenses, save time, and maximize efficiency, they must also prioritize fostering relationships with their tenants and residents. Luckily for property managers and their staff, a lot of self-service technology has lightened their loads and streamlined operations on their property. But, as with many other things, there is a delicate balance between the importance of technology and property managers’ relationships with their residents. So, for the property managers balancing technology and relationships with residents, read ParqEx’s four ways to enhance resident relationships and experience via our self-service parking technology.

Tenant self-management & increased engagement with technology

Undoubtedly, the advantages of self-managed parking technology for property managers are seemingly endless. However, property management is one of many who experience these advantages. Residents directly benefit from parking property management software as well. Some benefits include self-managed profiles, payment management, guest parking reservations, and access control for all access points on the property. Another benefit to property managers and residents is that, like all other self-service technology, the loyalty and satisfaction of the residents increase.

Learn how empowering tenants with parking property management software can help you and your team balance technology and resident relationships!

Fair online reservation system

ParqEx’s self-managed parking technology is multi-faceted in increasing resident satisfaction and user experience. One of which is ParqEx’s fair online reservation system. Many property managers nationwide struggle with an ever-demanding need for parking spaces. In some instances, there are more vehicles than spots available. With our parking lease management module in place, parking allocation challenges can be resolved quickly. By providing fair online reservation systems, property management prioritizes the needs of residents and shows their commitment to maintaining solid relationships in their community.

Learn more about how a fair online reservation system with a parking lease management module helps property managers maintain the balance between tenant relationships and the efficient use of self-service technology.

Accommodating evolving needs

Change is inevitable, and parking operations are also touched by changing and evolving needs. Nowadays, it is more complex than authorized tenants pulling into the parking garage with clickers. With parking facilities being used for Zipcar parking, Airbnb parking, and EV charging and parking, the needs of the property change within the blink of an eye. And, as property managers know, accommodating the community’s needs is priority number one. With ParqEx’s parking property management solutions, such as LPR, Access +, and the Enforcer app, the leaps in parking technological needs are entirely feasible.

Learn more about how accommodating evolving needs can help streamline parking management for property managers while maintaining a fair balance between technology and relationships with tenants and residents.

Using technology to strengthen relationships with staff and residents

Self-service technology does not replace human interaction. Automation improves efficiency, drives lease renewals, increases referrals, and monetizes existing property assets. In addition, it helps foster and encourage human interaction through features like ParqEx’s service gratuity (tip) option. For the property management teams that know how to maintain a community where tenants and residents feel valued, their staff is well-liked. With that in mind, ParqEx’s built-in CRM software allows users to show appreciation and tip their favorite staff members.

Learn more about how technology can help strengthen relationships between staff and residents through features like service gratuity while maintaining a healthy balance between technology and the importance of relationships.

That’s all for now!

Property management is not solely about managing and maintaining properties in your portfolio. It is also about building and maintaining a sense of community amongst all residents, tenants, guests, and staff. And contrary to concerns, technology can help (not necessarily replace or negate)! 

So, to all the property managers balancing technology and relationships with residents, our parking technology can help encourage a sense of community, all while increasing satisfaction and loyalty. Book a demo with our team today, and we will show you how we can improve your parking operations and maintain that delicate balance.

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When people go on vacation, more often than not, they will be renting a car. Before the 2010s, most people spent their holidays at hotels and resorts. Expecting hoards of people arriving in their SUVs and minivans, hotels and resorts all made sure to have sizeable dedicated parking lots and structures for their guests. Today, resorts and hotels still operate like they always have and have sufficient parking. What disrupted the industry was the introduction of companies like Airbnb, VRBO, and Vacasa. Hotels were built with parking but when it comes to Parking for AirBnB, VRBO, and Vacasa, parking is an afterthought!

Property Owners, Property Managers & HOA Communities: Does your property have various Airbnb units and homes? Has your property experienced headaches surrounding parking management for these rentals with hundreds of changing guests and vehicles? Well, you have come to the right place! Read our blog on how to facilitate parking for Airbnb Rentals!

What is Airbnb/VRBO/Vacasa?

Airbnb, VRBO, and Vacasa are online marketplaces for people seeking to book short-term and long-term rentals of houses, condos, and apartments worldwide. These vacation property rental companies are brokers between property owners and renters/vacationers.

The introduction of these platforms suddenly opened up a huge revenue potential for property owners who own vacation homes or multiple homes worldwide. By listing the homes they do not live in full time on rental platforms, they allow any guest to rent their other homes for their vacations. With companies like Vacasa, Airbnb, and VRBO, vacationers can enjoy the privacy of their own space in their location of choice.

The problem with parking for AirBnB/VRBO/Vacasa rentals

Despite all the benefits of vacation property rental companies, a recurring problem that property owners, management, and even HOA communities face revolves around parking. (Single-family homes can be excluded from this as, more often than not, they have “parking on premises” that renters and vacationers can use for their rental cars.)

Picture a condo in downtown Miami, Florida. How do renters gain access to the gated underground parking? Picture a seven-bedroom home in a gated community in Scottsdale, Arizona. How do vacationers get past the gates to get to their rental? There has to be a seamless way to address how to facilitate parking for Airbnb rentals in these situations.

Moreover, in terms of property ownership and management, is there an easy way to get their existing access control systems to allow for this seemingly revolving door of different Airbnb renters’ vehicles? And how do they manage space allocation and parking zone management with these additional cars? Furthermore, how do they ensure proper enforcement?

The parking solution for AirBnB/VRBO/Vacasa rentals

ParqEx proposes a simple, smart parking technological solution to facilitate parking for Airbnb rentals.

• Access + & LPR: Firstly, multifamily buildings, condo associations, and gated HOA communities will need access control technologies on their properties. Before readers think, “Oh, we are in a good place; we have our fob access control system running 24/7,” a fob-based access control system must be revised for vacation rental units. There is no feasible way for the owners of these vacation rentals to safely and efficiently give their fob to each renter. Additionally, from the perspective of building management and ownership, that is a security threat to your overall building. Luckily, ParqEx has an answer. We have two lines of access control technology suitable for all Airbnb parking needs. With Access +, vacation renters can access the property via ParqEx’s Access + app after the initial verification of their vehicle information. With Access + Premium LPR, vacationers can gain access to the property after our license plate recognition cameras scan their already verified plates.

• GuestParq: Secondly, these various gated communities will need an easy guest parking management system in which Airbnb, Vacasa, and VRBO owners can ensure their renters’ vehicles will be within the access control database and platform before arrival. ParqEx’s GuestParq platform allows vacation homeowners to reserve their renters’ guest parking in advance. Moreover, the reservation will provide the renters with all essential parking information, including parking zone, parking spot number, and parking rules.

• Enforcer: Thirdly, ParqEx strongly recommends including our Enforcer app to help facilitate parking for Airbnb, VRBO, and Vacasa rentals. For building property owners and management, this neverending slew of new vehicles making reservations in your allocated guest parking or the assigned parking of vacation rental units can be hard to track. Using the Enforcer app with GuestParq and Access +/LPR allows property management and enforcement officers to take the security of their property to the next level.

The question of how to facilitate parking for Airbnb rentals is more manageable than it always seems. With ParqEx’s property technology on-site, we can create a unique and dedicated parking management system for all vacation rental units. So stop letting Airbnb, Vacasa, and VRBO rental parking make your day-to-day parking operations a headache. Let ParqEx establish an easy guest parking management system for these vacation rental apartments, condos, and homes. Book a demo with our team, and we will help facilitate Airbnb parking at your property!

The post How To Facilitate Parking for Airbnb Rentals appeared first on ParqEx.

The Avenue at East Falls, a prominent apartment complex in Philadelphia, faced significant challenges managing its parking facilities. With a diverse tenant base, including Airbnb units, and limited parking space, the management needed an innovative solution to optimize parking allocation and ensure tenant satisfaction. This case study explores how ParqEx’s parking technology effectively solved these challenges and was the solution to streamlining parking management at The Avenue.

The Challenge

Several issues plagued the Avenue’s parking system:

• Limited Space: With only three parking zones (Garage, Adjacent, Across), there was a need to allocate spaces efficiently, especially considering the different needs of the studio, one-bedroom, and two-bedroom apartments.
• Airbnb Complications: The Avenue hosts 35 Airbnb units, each requiring a flexible parking solution for guests.
• Technology Integration: The lack of an advanced system to manage parking reservations and enforce rules.
• Tenant Satisfaction: Ensuring easy access and convenience for all tenants, including those with EVs or requiring ADA-compliant parking spaces.

The Solution

ParqEx implemented a comprehensive parking management solution with several key components:

1. Digital Platform Integration: ParqEx developed a customized digital solution, allowing tenants to easily register, select parking zones, and manage monthly reservations.
2. Advanced Features:
   • License Plate Recognition (LPR): Automated entry and exit in parking areas.
   • ParqEx Access+ App: A user-friendly app for tenants to manage parking reservations.
3. Dedicated Airbnb Parking Management: A unique system was set up for Airbnb units, enabling easy management of guest parking.
4. EV Charging Stations: Special provisions for EV charging, including a reservation system with a maximum 4-hour limit.
5. Clear Signage: Installation of informative signs for different parking zones, rules, EV charging instructions, maintenance vehicles, and loading zones.

Implementation

The project was meticulously planned and executed in phases, ensuring minimal disruption to tenants. Key phases included:

• Initial Setup: Finalizing the agreement with ParqEx and outlining specific needs.
• Technology Implementation: Setting up the ParqEx platform and LPR system.
• Communication and Training: Developing a tenant communication plan and staff training.
• Finalization and Launch: Conducting final system checks and launching the program.

Results

The implementation of ParqEx’s solution at The Avenue led to several significant outcomes:

• High Tenant Enrollment: Achieved a 90% enrollment rate among tenants within three months.
• Improved Satisfaction: Tenant feedback indicated a high level of satisfaction, particularly noting the ease of use and convenience of the ParqEx platform.
• Operational Efficiency: A significant reduction in parking-related inquiries and violations.
• Financial Performance: Met the revenue targets set for parking services within the first fiscal year.

ParqEx’s innovative parking solution successfully addressed the unique challenges faced by The Avenue. Integrating advanced technology, user-friendly platforms, and strategic planning resulted in a streamlined parking management system, enhancing tenant satisfaction and operational efficiency. This case study demonstrates ParqEx’s capability to provide custom solutions for complex parking problems in urban residential settings and how streamlining parking management can be achieved through ParqEx’s technology.

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The High Cost of Parking 

One of the most common complaints of people in large urban areas, whether tourists, business travelers, or locals, is that there’s a lack of parking. Parking that’s available is often very expensive – ranging anywhere from $25 a day in Chicago to $65 a day. For condo owners, parking spaces can cost a fortune. A Center for Neighborhood Technology report reveals that, in Chicago, the cost to build a personal parking spot can be more than $37,000 – and purchasing a parking space to own can cost over $50,000 in some of Chicago’s high-rise condo garages. Similar situations exist in other large cities such as New York, San Francisco, and Los Angeles. The absurd truth is that parking spaces cost more than some people earn in a year. This means that, in many cities, only the affluent can afford adequate parking.

The exorbitant cost of parking often makes it difficult and impractical to build new parking spaces. Quite simply, many communities can’t afford to provide more parking. One study of 12 American cities found that the average cost to build a parking space is $24,000 for above-ground and $34,000 for below-ground spaces. These prices assume that the owner already owns the land. Because of this, residents ultimately pay the costs of new parking facilities. This is one of the causes of rising rents, even for people who don’t own cars. So-called free parking is not a solution. Access Magazine reports that free parking requirements raise the cost of housing and reduce density. In other words, the cost is invisible but people are still paying it. And according to CNT, the supply of parking in 4 cities (Chicago, San Francisco, Washington D.C. and Seattle) far exceeds demand. Buildings offer two spots for every 3 units, and in reality (due to the ~33 percent average vacancy) they only need one for every three.

The Environmental Impact of Parking

When people talk about the environmental costs of automobiles, they’re usually talking about moving vehicles. Parking, however, creates its own environmental problems. For one thing, the current parking model is extremely wasteful. People are paying high fees for spaces they only need during certain hours. The above-cited CNT report found that one-third of off-street residential parking spaces are empty at night. If the average person uses these spaces for work, that means that they only need the space for 40-50 hours per week. In a world where, particularly in large cities, there’s a lack of space for affordable housing, this is a significant issue.

There’s also the fact that free parking encourages people to drive. When downtown areas, for example, provide lots of parking access, people who might otherwise take a bus, tram, or train are more likely to drive. A study by Chris McCahill of the State Smart Transportation Initiative found clear evidence that excessive parking causes more driving. This not only means that people with cars tend to drive more, it also influences people’s decisions to own a car at all. In urban areas with extensive public transportation, owning an automobile is often a choice rather than a necessity. More driving, of course, creates a variety of environmental problems, such as air pollution. There’s also the less measurable factor of stress that accompanies traffic jams, which impacts public health. And according to Donald Shoup’s study released in 2011 titled Free Parking or Free Markets, 30 percent of cars in congested downtown traffic are searching for parking. If these “searches” booked their parking in advance, traffic and pollution would be substantially reduced and time and gas would be saved.

It’s safe to say that the current parking paradigm is outdated and full of serious problems. The solution is not to build more parking garages. It’s similar to the supposed solution of building more roads to control traffic. Evidence shows that more roads lead to more traffic. The same is true for parking. What’s needed is a completely new way of handling parking.

The Parking Alternative

Companies like ParqEx, SPOT and JustPark use the Airbnb model to address the urban parking challenge. The basic idea behind all sharing or collaborative economy platforms is to provide services as needed in a fast and efficient manner, by using technology. Consider the difference between the hotel model and the Airbnb model. A hotel has a static number of rooms, whether anyone is using them or not. Meanwhile, Airbnb lets travelers rent space in people’s homes as an alternative to hotels, motels, and B & Bs. In addition to providing people with cheaper rooms, this reduces the need for more hotels and allows people to make some supplemental income.

One major benefit of this type of arrangement is the convenience for consumers, who simply order services by using an app. With these sharing economy “marketplace” apps, users simply search for a parking space and book the spot directly from the app. Not only does the renter gain access to more affordable and convenient parking, but he/she knows there is a spot waiting for them upon arrival. While companies such as SpotHero and ParkWhiz are primarily aggregators of commercial parking garages in downtown areas, the Airbnb model approach allows for individuals, businesses, churches, schools, anyone with a private parking spot(s) to list them on the app/website by the hour, day, week or month – whenever the spot(s) is available. Not only are parking spot owners making supplemental income from their underutilized parking spots, but they are helping their communities by opening up more parking supply in the neighborhood.

With many private parking spots being located behind garage doors or gates, ParqEx differentiates itself from its competitors with its innovative IoT solution called Access+. The Access+ system allows renters and approved users to open any garage door or gate with a click of a button on their smart phones. Implementing Access+ increases rental opportunities, improves transparency into garage usage, and provides great convenience for both owners and renters.

From a parking spot owner perspective, sharing economy parking apps provide a new source of income. Most owners are renting out spaces they already have, so they’re earning money on space that was previously unused. Owners can set their own prices, however, prices are generally lower than commercial parking lots or garages. This is generally true of Airbnb or other sharing economy models of business (like Uber vs. Taxis). Owners and renters engage with each other directly, eliminating the middleman. Since the service providers are not corporations and are using property (e.g. living space, vehicle, or parking space) that they already own, they can afford to set reasonable prices.

How The “Airbnb Model” is Transforming Parking

There are some significant benefits to society as this Airbnb of parking model becomes more and more mainstream.

Faced with a variety of challenges, urban planners are increasingly looking for ways to create “smart cities.” This involves collecting lots of data and finding innovative solutions to issues such as housing, transportation, crime, and other social issues. In some cases, the best solutions don’t require an expensive, centralized solution. ParqEx, SPOT and JustPark provide a smart parking alternative that only requires owners and renters to install an app. Some of the long-term benefits of using this type of smart parking include:

• More affordable, convenient parking for commuters, travelers, and city residents.
• Less need for additional parking facilities.
• More efficient use of resources may lead to less driving and traffic congestion.
• As more people use the app, even conventional parking options are likely to become easier, with less crowded free parking and lower rates for commercial parking.

The way the public has embraced other sharing economy services suggests that people are eager to find new and innovative solutions. More and more services are disrupting conventional business models. In addition to Uber and Airbnb, there are now collaborative solutions in healthcare, web-based services, and many other industries. It only makes sense that there’s also such an alternative for parking.

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The Idea of Shared Resources

The idea behind the businesses mentioned above, and behind the sharing economy in general, is shared resources. With Air B&B it’s the idea of someone who has a home renting space in that home to travelers. With Uber, it’s the idea of sharing a car someone already owns. Etsy allows crafters to share their creations with customers around the world without having to go through a traditional business model, and Ebay accomplishes the same goal on a much larger scale. In all of these situations it’s people who are turning to other individuals, instead of to big businesses and corporations, to get the goods and services they want and need.

Party A has something, Party B needs something, and a business acts as the middleman by bringing the two parties together, and taking a small percentage in order to pay for its operations.

Why It Works

The reason the sharing economy works is that it possesses the spirit of helping. The more people who succeed, the more the industry as a whole succeeds. For example, for every successful sale on an Etsy store, that store owner gets paid, and the client gets something he or she wants. However, if that client has a positive experience, then he or she is likely to check out other Etsy stores. This means that store owners who did nothing but exist, and offer a quality product, may find themselves with customers because of something another store they don’t even know did right.

The sharing economy, despite being made up of hundreds, perhaps thousands, of different individuals, acts as a single community. They affect each other, and they acknowledge that they affect each other. As such, they support each other, and do their best to make sure that the reputation of their community is protected and maintained.

Will The Sharing Economy Remain?

The sharing economy is a return to a simpler way of doing business, using the tools and connectivity of the modern age. After all, there’s no reason to give money to a big corporation when you can get the products or services you need from another person whose name and face you know.

With that said, the sharing economy will have to continue to provide certain things in order to stay competitive, and to remain a force in the future marketplace.

First, the sharing economy will have to offer both value, and a low price for the things it provides. One of the major factors driving Uber, for example, is that it’s often less expensive than traditional taxi cabs. If that changes, though, more customers are going to switch to cab rides, because it’s gentler on their pocket books. Second, the sharing economy will have to continue to offer something unique. Something that bigger businesses and corporations simply cannot match. Hand-crafted products, and unique items will always be at home in a sharing economy, and that will give it an edge over companies who deal in mass-produced stock. Whether it’s food or a place to stay, transportation or banking services, people like to have unique solutions that are tailored to their wants and needs.

The sharing economy provides that, and as long as it continues to do so, it’s not going anywhere. For more information on the sharing economy, particularly about ParqEx- the sharing economy platform for parking, simply contact us today!

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