Property managers have their fair share of burdens that keep them up at night, like many others. They are constantly trying to find ways to lower expenses. They would love to take advantage of any avenue to earn passive income, but those opportunities are few and far between. Moreover, they worry about proper asset management and effective property control. All these worries linger over them while property managers strive for maximum efficiency to save themselves and their team valuable time during the day. 

Property managers: are you seeking modern technological solutions to simplify some aspects of your job? Keep reading to discover 4 successful technology solutions from property managers using ParqEx!

Success 1: 100% Enforcement Accuracy Rate

The first of 4 successful technology solutions from property managers using ParqEx comes from the West Coast.

Jason, the property manager at Avenue One (a condominium in Irvine, California), struggled to enforce parking at his property. With limited parking spaces available, residents, guests, and unauthorized parkers were parking wherever & whenever at their convenience, leading to growing frustration amongst the community and the staff.

ParqEx built a custom-designed cloud-based vehicle enrollment system. This system simplified parking for all residents and their approved guests. Meanwhile, property management & enforcement officers benefited from ParqEx’s Enforcer App, in which staff can immediately enforce any unauthorized vehicle on the property, thus freeing up more parking spaces for their community.

Read more on how ParqEx helped Avenue One achieve 100% parking enforcement accuracy!

Success 2: +$57k Passive Income

The second of 4 successful technology solutions from property managers using ParqEx comes from our home state, Illinois.

Colleen, the property manager at Evanston Metro Center (a multi-tenant office building in Evanston, IL), found that she and her team needed help managing their parking situation. Having to organize allotted parking per business became tiresome. She grew sick of controlling access to the parking structure to the constantly changing group of employees. Her team encountered headache after headache in terms of enforcing parking. And like all other property managers, she hoped to find avenues to maximize operating income.

ParqEx has helped Colleen and her team lessen the management effort associated with parking. Upon installing ParqEx’s Access + technology at the property, ParqEx’s system automatically grants access to only approved vehicles, thus decreasing the number of unapproved cars on-site and diminishing parking enforcement concerns. Moreover, this access control system allows transient renters seeking parking on ParqEx’s Marketplace to make a reservation and then be granted access to the parking facility, thus adding valuable passive income.

Read more on how ParqEx helped the Evanston Metro Center earn +$57k in passive income!

Success 3: Value-Adding Amenity

The third of 4 successful technology solutions from property managers using ParqEx comes from the East Coast.

Latifa, the property manager at Monarch 716 (a student housing apartment complex in Buffalo, NY), found that her property desperately needed help regarding access and security. Students needed an easier way to access their apartments & grant guests access to the facility from within their homes vs having to go down and open the door. Moreover, property management fears were more on the side of security. They wanted a firm understanding of who accessed their properties at what times and wanted ways to eliminate forever the potential of code-sharing or fob-sharing on-site.

ParqEx completely reorganized the access system at Monarch 716 for these students. The property is fully secure with Access + installed at nine different access points. Property management now enjoys advanced reporting capabilities, real-time insights, and reduced staff hours spent on access and fob management at their property. At the same time, students and their approved guests enjoy simplified access to the building. 

Read more on how ParqEx helped Monarch 716 add a valued amenity for their student residents and management!

Success 4: 20% Staff Time Savings

The final example of our 4 successful technology solutions from property managers using ParqEx comes from the city where our company was founded, Chicago, IL.

Amy, the property manager at 340 On The Park (a luxury condominium high-rise in Chicago, IL), was grappling with ways to manage their guest parking. Existing parking around the property is overly expensive and inconvenient, so to cater to their tenants, property management sought ways to facilitate free guest parking for visitors coming to the property. But that came with its fair share of challenges. Staff had to manually keep track of requests for all available spaces at all times, book spaces for arriving guests, and track which tenants have used their allotted free guest parking perks for the month. Not only was it a constant headache for staff, but any guest arriving at the property had to check in at the front desk instead of just driving into the parking facility.

ParqEx revolutionized the system at 340 On The Park. First, ParqEx installed its Access + technology to simplify access to the parking facility for tenants, guests, and staff. With this access control system, guests no longer had to check in but instead park immediately upon arrival. With the entry and exit of the parking garage simplified, ParqEx then configured their GuestParq solution to automate the guest parking experience further.

Read more on how ParqEx helped 340 On The Park enjoy 20% staff time savings and 100% reporting improvement!

And That’s a Wrap!

We take pride in the technological solutions we have provided our clients here at ParqEx. Check out our substantial results and read more of our published case studies.
Property managers: did you enjoy these 4 successful technology solutions from property managers using ParqEx? If you, your team and your property can benefit from our technology solutions, please book a demo with our team. We would love to build a property-specific solution just for you!

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1. Parking

Parking is a problem for many buildings, especially older ones that may have been built before everyone had at least one car if not two. While most complexes list parking as an amenity, the truth is that residents and tenants often have to deal with insufficient parking and a lack of guest parking, especially overnight. Residents who rent a car as needed often cannot park on the property. One solution is to offer multi-family smart parking, which allows you to better manage the parking you have, letting residents book guest spots in advance, open the gate with their phone, etc. Being able to avoid saying “Well, you can park on the street” can be a perk not many think about until it is brought up. Add a few electric car charging stations (with a smart system to reserve them when needed) and you can turn parking from a side note to something central to your business.

2. Hotel-style common areas.

Residents expect to be able to make use of common areas in new ways, especially if the apartments tend to be small. Offering comfortable seating is a plus. Offering computers for resident use has become standard, but you can get “bonus points” for enclosed workstations. Large screen televisions can attract residents and promote a sense of community. Offering events for residents and their guests can help ensure that these areas are used. The best location: The lobby. Top floor party rooms are great, but residents tend to forget they are there. If your climate allows it, outdoor “rooms” are important, such as roof decks or courtyards. Such multi-family amenities should be targeted to the demographic you aim to support.

3. Wi-fi.

These days tenants, especially younger residents, expect to be able to access fast, reliable wi-fi in common areas. This even includes outdoor areas. Wi-fi is at the point of not being an “amenity” so much as an “expectation” that landlords need to meet. If your building is a cave, then good wi-fi becomes even more important and you might also want to consider installing cell relays in problem areas.

4. Pet amenities.

Although some buildings are still anti-pet, in many areas being pet-friendly is something of a selling point. However, it has to go past “we allow pets.” If you have space, a dog park is useful. So is partnering with a dog walking service. Even small things like a jar of dog treats in the lobby will make your four-footed residents, and their owners, feel more welcome. A less common, but growing amenity, is the pet spa, a place designed for grooming and bathing pets. Furthermore, pet amenities often allow you to increase your rent more with a lower outlay.

5. Fitness centers.

Even if there is a gym down the street, some of your residents will use the on-site fitness center. More importantly, most of your new residents will think they are going to use it. Apartment fitness centers now have to go past putting a couple of treadmills and a multi-gym in the basement. Attract a fitness-minded demographic with a multi-purpose room that offers yoga and pilates classes, video classes for yoga, dance fitness and spinning, and modern equipment. Also, a lot of renters are interested in things like racquetball or tennis courts, walking trails (if your property borders a good trail, make sure to provide access) and other non-standard fitness amenities.

6. Excellent package managing.

More and more people shop online and receive packages. Having proper package storage and smart software will help reduce the number of annoyed residents. Although package handling may not be on the list of multi-family amenities you put front and center, with 47 percent of renters receiving at least three packages per month, including perishables, not having good package handling is likely to result in poor reviews and a higher turnover. Negotiating for an Amazon locker is one good move.

7. Sustainability.

Younger tenants want to know that their apartment building is sustainable. Green roofs and energy-efficient appliances are both particularly popular. For new construction, try to meet or exceed LEED standards. When renovating, consider how you can make the building more energy efficient (which also gives the selling point of lower heating and air conditioning bills).

When developing or running an apartment building, you need to provide the best multi-family amenities to your residents. If you are looking for smart parking solutions for your apartment building, Schedule a Demo/Call today.

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