5 Ways to Increase Your Portfolio Value with Parking Management

Managing parking spaces can be daunting for any commercial or residential property, especially those with a high volume of tenants or visitors.

By leveraging parking management software, your operations will become easier to manage, more efficient, and allow you to spend time on tasks that add value.

In this article, we’ll discuss how to improve and streamline your parking operations using GrydPark’s Lot Management software.

1. Boost Operational Efficiency

Commercial and multi-family properties nationwide often struggle with keeping parking lot data and records up to date.

By switching from pen and paper or manual spreadsheets to GrydPark’s Lot Management software, parking management can be modernized instantly.

Create live reports to optimize parking space allocation, reduce traffic congestion, and save time with automated tasks like payment processing, tenant and visitor customer service complaints, and parking notices. This time saved can be used to focus on other important, more value-add aspects of your business.

GrydPark Lot Management parking software used in a birds-eye-view of a parking lot

2. Regain Oversight & Control of Your Property

GrydPark Lot Management parking software used in a birds-eye-view of a parking lot

Access to live data reports significantly improves oversight and control by providing real-time visibility into your operations.

These data reports reveal a complete picture of your portfolio’s parking assets to empower real-time decision-making.

It also enables you to set and enforce rules and regulations such as parking fees, time limits, and restricted areas.

This helps to ensure compliance and reduces the annoyance of handing out fines to tenants or guests.

3. Streamline Administrative Costs and Time Savings

Parking management software should seamlessly integrate with your existing CRM to make updating your records simple.

Our Lot Management tool integrates seamlessly with property management software (including Yardi), which allows your current database to exchange data with our system, so you can update parking information from one single dashboard.

With Lot Management software speaking directly to your property management software, it can identify the number of tenants who are parking in your building and alert you to spaces that can be utilized more efficiently.

4. Capture Lost Revenue

Hands typing on laptop

Too often, parking areas in commercial or multi-family buildings go unnoticed and are completely under-managed.

Tenants begin to park in unmarked spaces and stop paying their monthly parking fee, or visitors become confused about payment and park in zones they’re not meant to.

Property caretakers may also begin to pocket extra cash from tenants and visitors which leads to distrust among employees and lost revenue for the business.

Lot Management enables you to track parking usage, monitor payment, manage waitlists, and ensure parker compliance with rules and regulations. This leads to improved occupancy rates, reduced shrinkage, and eliminated idle parking space.

5. Why SaaS is essential for business

Software as a Service (SaaS) has become an increasingly popular choice for businesses looking to streamline their operations and improve efficiency.

SaaS solutions offer a wide range of benefits that can help businesses of all sizes to succeed in today’s competitive marketplace.

The key to using software effectively is ensuring the free flow of data and analytics.

This requires abandoning outdated spreadsheets and migrating to systems that enable the automatic collection, organization, analysis, and distribution of data across a business.

Data automation empowers managers to make informed decisions based on real-time information, without concerns about timeliness.

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Take control of your property and optimize day-to-day operations.

Book a demo with our resident GrydPark expert to learn more about the powerful Lot Management Software.

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