Why Real Estate Should Invest in LPR Technology

 

The worldwide outbreak of COVID-19 has changed the way that people around the world interact with each other and their surroundings. Now, more than ever, contactless and touchless solutions, services, and business practices are in critical demand. In these times, it is crucial that businesses and properties adapt, changing the ways they interact with their clients and customers, in order to help keep them safe and protected. In the world of parking, License Plate Reading (LPR) technology is a revolutionary smart parking technology that can help commercial real estate developers provide superior safety options, while also bringing their properties into the future. Read on to learn more about LPR and Why Real Estate Should Invest in LPR Technology

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).

Safety

In today’s world, having to touch shared, public surfaces is not only an inconvenience but also a health hazard and potential barrier to doing business. Now, more than ever, people are unwilling to risk their health, and traditional parking kiosks and ticketing machines can scare customers away, leading to lost business. Consumers today demand contactless solutions that protect their health and give them peace of mind. LPR offers the only truly touchless and contactless solution when it comes to secure access to your parking facility. With LPR, you have a smart parking system that can automatically detect and read an approaching vehicle’s license plate, granting access to any authorized user. With such systems, there are no screens or kiosks to interact with, no tickets to handle, and no badges to pick up. Your visitors enjoy 100% touchless and secure access to your parking facility, with no increased risk of exposure.

Security

LPR parking solutions also vastly improve the security and safety of your parking facility. With LPR, unauthorized vehicles are blocked from your facility, giving you and your guests confidence that only authorized vehicles will enter. The camera systems required for LPR solutions can also continually record your facility’s access points, keeping a detailed log of all approaching 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. This added security gives your parkers added peace of mind that they can park at your facility without any safety concerns.

Increased Customer Satisfaction

LPR offers several benefits to customers of your parking facility that will leave them exceptionally satisfied. In addition to security benefits and being 100% touchless, the automatic entry and exit of LPR systems save your customers significant time and hassle. Since their license plate is read automatically on entry and exit, they gain swift and easy access without having to waste time interacting with a kiosk. In addition, no tickets means not having to waste time locating, waiting in line at, and using a pay station. Instead, simply pay on your smartphone at any time with a few simple clicks. Finally, thanks to LPR technology streamlining entry and exit, your customers enjoy significantly reduced traffic buildup and much shorter lines in your parking facility.

Click here for a list of benefits of LPR technology for real-estate customers.

LPR offers unparalleled ease, convenience, and safety for your customers, providing them with the ultimate parking experience. The seamless entry, smooth exit, and smart payment options that the LPR system offers keep your customers happy and returning to your facility in the future. With LPR, you transform your building into a smart building, ready, and able to serve customers for several generations to come.

Increased Revenue

With all the benefits of LPR, your customers are sure to be happy and satisfied, significantly increasing the chance of repeat business. LPR systems also provide a solution to ticket swapping, a problem that has remained a significant threat to traditional parking facilities and their ability to collect revenue. With LPR, vehicles are always tracked by their license plate, meaning that there are no tickets to swap, and revenue cannot 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. Finally, LPR systems can enhance revenues by cutting down on the traffic and waiting times within your facilities. By reducing these idle times and keeping 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, driving greater revenue.

 

Reduced Operating Expenses

LPR systems offer significant opportunities for cost savings as well. They remove the need for parking tickets, badges, or fobs, meaning you no longer need to spend money stocking and managing these items. Instead, with LPR, license plates are the unique identifier to gain access to your facility. Furthermore, LPR streamlines enforcement, tracking and logging every vehicle that enters and exits your facility. 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, to give managers all tools they need for enforcement right at their fingertips. With LPR systems and tools like Enforcer by ParqEx, you can eliminate the need to manually patrol your premises and check for violators, delivering further cost savings.

 

Improved Operations

LPR solutions greatly simplify parking management and operations, 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 also means that there are no longer physical passes or access devices to manage. Instead, with ParqEx’s Management tool, operators 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. With these tools, managing your parking facility has never been easier.

 

Futureproofing

With all the benefits discussed and the continued trend towards smart solutions, the shift towards LPR technologies in the world of parking is inevitable. Soon, real estate developers will be expected to provide building equipped with smart technology, including smart parking. By investing in LPR now, you not only offer your customers a superior experience today, but you prepare your property to serve future generations of customers that will demand a complete smart real estate solution. Think ahead of the curve; embrace smart parking for your property today and be ready for tomorrow as well.

 

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 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.

 

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 Why Real Estate Should Invest in LPR Technology and how we can help transform your facility into a smart parking facility.

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.