What is a parking operator?
Parking operators are the individuals or groups that manage the day-to-day operations of parking garages and lots.
What do parking operators do?
Parking garage operators perform a number of critical tasks and make pivotal decisions each day, from routine maintenance to accounting of revenue and occupancy to changing rates based on demand.
Sometimes, parking or garage owners are their own operators. Other times, an asset owner will hire a team to manage their parking asset for them.
Regardless, there are various parking management tasks that need to be performed on a daily, weekly, monthly, quarterly, and annual basis. Depending on the size of the operation, parking garages and lots can be managed by a single person or an entire team of people.
How does parking management work?
Parking management is a key part of running any parking garage or lot and includes the day to day maintenance of a lot, customer service, surveying to ensure there are no hot cars, strategy in terms of pricing and occupancy, and many other important responsibilities.
How can parking garage operators keep their parking operations running smoothly?
The day to day tasks of a parking operator can be simplified with parking technology solutions that automate certain elements of their job. For example, a smart parking technology system can automatically change rates each weekday and weekend depending on when the location’s peak hours are.
What do future parking operators need to know about the parking industry today?
Future parking lot operators should acknowledge that the parking industry has changed drastically over the last decade. In the past, parking operators were necessary to change rates manually, pull cash out of machines, and speak with customers. Today, with more advanced parking technology solutions, the role of the operator has changed.
Today’s smart parking machines accept credit cards and digital payments, often require fewer repairs, and can be integrated with support centers that are accessible with the press of a button.
That means that operators are now more concerned with long term strategy, reading robust reports and making recommendations, and choosing what technology to implement to improve the customer experience.
Are parking lots good investments?
Parking lots are great investments due to their low volatility and the opportunity to make consistent revenues. Real estate appreciation is one of the main reasons asset owners get into the parking business.
Depending on your investment needs, parking assets can be a great investment.
How profitable can a parking facility be?
The profits from a parking facility vary based on a number of factors including location, parker volume, number of spaces, maximum occupancy, additional services offered, and rates.
Choosing to implement smart technology can positively impact profits through dynamic pricing, revenue control measures, and a reduction in revenue leakage traditionally associated with on-site personnel.
How can parking operators lower operating costs with FLASH?
FLASH is a high-tech tool that lowers operating costs by automating the day-to-day responsibilities of a parking operator. When operations are handled by technology rather than individuals, there is a smaller margin of error in access and revenue control. Automated systems can make the life of a parking operator much easier and can propel operators into a more high-level, strategic role rather than being bogged down in the minutiae of the everyday.
How can valet services improve the parking experience and increase parking revenue for parking operators?
Valet services are just one of the many value-added services that parking lots and garages can introduce to diversify and increase their revenue. Valet can also be combined with EV charging to gain a competitive advantage while maximizing occupancy through stacking and increasing profits with increased transaction value.