How to Manage a Parking Lot 101
Posted: Sept, 03, 2020 8:49AM ET • 2 min read
There’s a lot that goes on behind the scenes of managing a parking lot. Gone are the days when a parking business consisted of just one person in a booth accepting only cash. The parking industry has evolved with business intelligence at its core. And today it features some of the world’s most dynamic and leading-edge technologies.
So, how do you manage a parking lot? For starters, if you own or manage a property that requires parking access to be managed and controlled, with or without paid regulations, it’s important that you partner with a credible parking services provider. When choosing a vendor for your parking equipment, management services—or both—it’s important to do your due diligence so that you invest in the right technology and services, and save on unforeseen costs. For starters, request a facility tour. You’ll want to ensure that the parking vendor you partner with has the capacity to operate at the level you need them to.
Once you find the right parking supplier, the next step is choosing the most suitable parking equipment for your property needs. Parking equipment is the foundation of your parking operation. Do you require a gated parking system, or can you get by with parking meters?
Once you choose what type of parking equipment to invest in, you’ll want to secure ongoing maintenance and technical support for it. A critical but commonly overlooked aspect of this process is a supplier’s ability to provide you with ongoing support. Factors you’ll want to consider are: warranty and parts supply programs, installation and ongoing maintenance packages, self-maintenance training, technical service, and back-end troubleshooting.
It’s also crucial to protect your business from fraud and theft. If you’re processing payment or private information, you need to protect yourself with PCI-compliant credit card processing procedures, as well as theft-proof equipment.
Once you decide on all of the above, you can begin exploring integrations that will make the day-to-day of managing your parking program a lot easier. For example, connecting your parking system to a live central monitoring station will provide you peace of mind—at a fraction of the cost. Offering parking permits will secure you recurring revenue from the get-go. Mobile parking payment apps will increase your parking revenue at an affordable price tag. And value-add services and amenities, such as marketing, facility maintenance, electric vehicle charging stations and more, will make your parking operation both profitable and proficient.
A turnkey or full-service parking management provider will always be the right fit. It will reduce the stress that comes with overseeing a parking program, and ensure you maximize your investment by relying on in-house resources and expertise.
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ABOUT THE AUTHOR
Justin Powell
Regional President, Western Canada
Justin was already an experienced professional in the parking industry when he joined Precise ParkLink in 2005. He has a particular expertise in the areas of valet parking, parking lot management, and equipment sales, installation, and service. This experience and his commitment to serving his clients have not only made him a well respected figure in the Canadian parking industry but have contributed significantly to the growth of Precise ParkLink’s representation in British Columbia. Having studied business management at the British Columbia Institute of Technology, Justin takes the time to understand the industry and the market he serves; he is an active member of the Canadian Parking Association (CPA), Canadian Transportation Group (sitting member), Building Owners and Managers Association (BOMA), and The Downtown Vancouver Association (DVA).
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