Multifamily buildings like apartments and condos come with certain facility-wide costs. Maintaining the common areas, grounds, and parking are in everyone’s best interest. But that doesn’t mean your facility maintenance needs to be costly. One way to cut some expense from your budget is to actively improve the way you manage parking. Traditional parking management techniques have worked for a long time, but modern technology has made it possible to upgrade your approach to lighter-weight, more convenient, and less costly solutions.
Upgrade to Mobile App Gate Access
Upgrading to mobile app gate access can reduce resident parking costs for multifamily properties by eliminating the need for physical access devices and streamlining administration. This technology minimizes maintenance expenses, reduces material costs, and increases operational efficiency, leading to overall cost savings and potentially lower parking fees for residents.
Access Real-Time Parking Map
Implementing a real-time parking map can lower resident parking costs in multifamily properties by optimizing parking space utilization. Residents can easily locate available spots, reducing search time and congestion. This efficiency improvement leads to better space utilization, potentially allowing for reduced parking infrastructure costs and lower fees for residents.
Offer Guest Parking for Rent
By offering guest parking for rent, multifamily properties can generate additional revenue. This extra income can be used to offset the overall operating costs of the parking facilities, potentially leading to reduced costs for resident parking. It creates a win-win scenario where the property benefits financially while residents enjoy more affordable parking options.
Enroll Vehicles Instead of Tagging
Enrolling vehicles through a digital system instead of using physical tags can reduce the administrative and maintenance costs associated with traditional parking methods. This streamlined approach can lead to operational efficiencies, ultimately contributing to a reduction in overall resident parking costs for multifamily properties.
