Why change your parking policies? Parking is one of the most significant factors influencing your tenants’ decision to drive or to take an alternative mode of transportation. Implementing innovative parking management strategies allows you to better serve your tenants by providing flexible parking options and freeing up parking availability for their clients and other short-term parking customers.
Parking Management Strategies
On-Demand Parking Options
Full-month parking passes give people a financial incentive to drive to work every day, even if an alternative mode might be more convenient and enjoyable on any given day.
By offering daily parking rates, discounted daily carpool parking, pay-as-you-go parking accounts, or other on-demand parking options, commuters can drive on the days they need to, but have the option of taking transit, carpooling, walking or biking when convenient throughout the month.
On-demand parking options can increase parking capacity and profit margins, provide an affordable parking alternative for commuters concerned about the rising costs of drive-alone commuting, and support investments in transportation amenities like bike facilities or transit pass subsidies.
Parking Stall Conversion
Dedicated commuter parking spaces encourage tenants and employees to drive to work every day, and take away valuable parking spaces for customers, clients, and visitors.
To better manage your garage, convert some (or all) of your commuter parking spaces to accommodate short-term visitor parking, vanpools, carsharing, electric vehicle charging stations, and bicycle parking.
This will allow for greater flexibility in managing your garage and can lead to increased parking revenue.
Parking space is a valuable and limited resource for the users of your building. Prioritize parking availability for short-term visitors to ensure that customers can access your tenants’ businesses.
Short-term parking provides higher profit margins than monthly parking and increasing parking turnover in your garage can significantly increase parking revenue.
Consider lowering hourly parking rates for the first two hours to encourage short-term customer parking, and set monthly permit fees and commuter parking at market rates or higher.
We offer free parking consultations from parking and transportation demand management experts are available to provide technical assistance and advice.
Contact us to learn how to support commute options and maximize revenue through smart parking management strategies.