CREJ - Journal

Page 20 —

COLORADO REAL ESTATE JOURNAL

— April 1-April 14, 2015

Property Management

arking is a valuable

– and often underval-

ued – component of a

building or complex. Parking

areas are the entry point to a

property, serving as a de-facto

lobby for people who arrive in

vehicles. It is the first and last

thing that a visitor experiences

when he visits a property, and

can leave a lasting impression.

Obviously, for building owners

who want to appeal to tenants,

prospective tenants and visi-

tors, it’s essential for parking

areas to be clean, pleasant and

easy to use.

In light of the important role

that parking plays in a prop-

erty’s success, it’s remarkable

how little attention many own-

ers pay to it. But owners ignore

parking at their own peril.

Poor parking facilities can cost

owners a lot of money in lost

tenants and operational costs.

So, how can owners ensure

that their parking is operat-

ing at its peak? The secret can

be found in the implementa-

tion of a five-year strategic

plan through which parking

resources are evaluated, areas

needing structural and opera-

tional improvement are iden-

tified, and plans are made to

complete those improvements.

Getting Started

The first step is evaluating

the current performance of

parking areas. There are two

areas of primary concern to

be evaluated: customer service

and operations. In evaluating

customer service, owners and

their operators need to deter-

mine wheth-

er parking

facilities are

pleasant and

easy to use.

This large-

ly revolves

around how

easy it is for

parkers

find a space

close to their

u l t i m a t e

des t ina t ion

and wheth-

drivers

can enter and exit the facil-

ity quickly and conveniently.

Operators can begin with an

internal inventory. Are stair-

ways and floors clean and

well-illuminated? Is access and

revenue-control equipment in

good working order? Are exits

and entrances congested? Do

parkers have to circle parking

areas to find an open space?

On the operational side,

owners should audit their

equipment and systems to

assure that facilities are operat-

ing at optimum efficiency and

that equipment is up to date

and operating well. This also

requires an inventory. Owners

should make sure the access

and payment equipment are

working properly, and that the

facility management equip-

ment and its software are up

to date. Owners should also

consider if they are charging

the right rates, if the technol-

ogy they are using effectively

controls costs, and if the facility

accepts credit cards for park-

ing payments, ensure that it is

compliant with Payment Card

Industry Data Security Stan-

dards.

Improving Parking

The answers to the questions

posed through the inventories

will determine what remedies

are required. If stairwells and

floors aren’t sufficiently clean

and illuminated, the fix may

be as simple as washing park-

ing areas and installing high-

efficiency LED lighting. Like-

wise, if congestion is found at

entrances and exits, the solu-

tion may be to fully automate

payment and access control

through pay-on-foot and card-

in/card-out technologies. In

addition to enhancing custom-

er service, these technologies

also significantly reduce the

risk of theft.

If parkers find it difficult and

time consuming to find park-

ing, the answer could be found

in a parking guidance system.

There are several different

guidance systems, from LED

signs outside entrances indi-

cating how many spaces are

available and on what floors, to

complex systems featuring illu-

minated single-space sensors

that show parkers where open

spaces can be found through a

series of green and red lights.

Modern mobile technologies

also are available through

which parkers can use apps on

their smartphones to find open

parking.

Simple fixes also are avail-

able for administrative short-

Take the five-year approach to maximize the value of your parking

John Dorsett

Certified planner

and principal, Walker

Parking Consultants

Please see Next Page

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