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Page 26 — Property Management Quarterly — May 2015
F inding the perfect vendor for
any service can be a time-
consuming and challenging
endeavor, and selecting a
parking operator is no excep-
tion. Without firsthand experience
in the parking industry, one may not
know what to look for and how to
evaluate your options. Every com-
pany will say why they are the best
and they all might have compelling
arguments, but there are important
criteria to analyze when making this
important decision. Following are a
few tips on what to look for when
selecting your next parking operator.
1. Experience. It’s important to
know if the potential company has
experience with a project similar
in size and scope. For this, quantity
does not always equate to quality.
Just like any other industry, there
are parking companies that care-
fully select which properties to
manage and other companies that
have a set corporate system and
growth strategy that is to conquer
everything in all markets. As long as
your potential vendor can prove it
is qualified to serve your property, it
should not matter how many facili-
ties it currently manages.
2. Responsiveness. Parking is a 24/7
business, especially in busy urban
environments such as Denver. It’s
best to ensure that your potential
vendor is available to provide cus-
tomer service at any hour (depend-
ing on need) and has a quick
response time in case of emergen-
cies. A local team is better than an
outsourced call center because the
local team can provide a higher level
of service to the
customers with
a greater under-
standing of the
property, parking
operation and city.
General emails and
questions should
be responded to
within a reason-
able amount of
time during the
business day and
after hours.
3. Transpar-
ency. Establishing
a trusting relation-
ship with your
potential parking
vendor is critical. This typically hap-
pens over time through network-
ing by attending organization (such
as Building Owners and Manag-
ers Association and International
Facilities Management Association)
meetings and activities, and work-
ing together at charitable events and
committees. If you have a chance to
work with a vendor in a nonbusi-
ness setting, you can get to know
them on a different level outside of
the business world.
A parking contract is not the same
as a simple one-and-done vendor
contract; the parking operator is
“moving in,” per se, and often han-
dling thousands, even millions, of
dollars in revenue. Trust is critical to
a property manager’s and owner’s
confidence. One must feel com-
pletely comfortable with the park-
ing operator and know that he has
proper controls in place to ensure
revenue will be
maximized. You
want to make sure
that their account-
ing and cash han-
dling processes are
transparent and
that all manage-
ment reports are
clear and contain
backup documen-
tation when neces-
sary.
Reports that
are not clear or
do not maintain
user-friendly readability should be
adaptable and adjusted to best meet
your needs. How can you do this?
Ask questions, ask for the documen-
tation, hire a third-party auditor or
have your potential vendor sit down
for a polygraph test. OK, that last
example is a stretch, but you get the
idea. If a company is unwilling to
discuss its reporting or process, it
may have something to hide.
4. Flexibility. It’s important for
your potential vendor to be flexible
with operations and make quick
decisions. Whether it’s to fill your
facility for an unexpected special
event to maximize revenue or solve
a parking problem for a major ten-
ant, you want your vendor to have
the skillset and authority necessary
to remain flexible and proactive.
This means cutting the red tape and
finding a vendor who empowers his
local operations team.
5. Reputation. While most requests
for proposals require a list of refer-
ences, often these references go
uncalled. First-person references in
the same city usually will tell it to
you straight. It is important to ask
questions related to the other cate-
gories – response times, attention to
detail, how often you see upper-level
management, etc. These can be indi-
cators as to whether a company has
time to give you the level of atten-
tion necessary to ensure your park-
ing is a blessing. If not, your parking
will continue to frustrate you.
6. Attention to detail. Does the ven-
dor pick up on your “red flags?” Is
the vendor sensitive to your needs
and communication patterns? Does
he make requested changes, and
are they made in a timely manner?
Does the vendor follow up in a way
that works for you so you know
things are getting done when you
need them done?
A good vendor will follow up with
you as much as needed. An operator
should at minimum suggest regular
meetings (weekly, monthly, quarter-
ly, as needed) so that he can main-
tain regular communication and
ensure your needs and the needs of
your garage and tenants are met.
If you keep these criteria in mind
while selecting your parking ven-
dor, then you will be on the right
track. Another important aspect is
to ask senior-level managers in your
organization for their advice – there
could be elements that they look
for that are not included in the list
above. Taking the time to carefully
vet and select a parking vendor will
save you a lot of headaches in the
end.s
Justin
Montgomery
Director of
business
development and
special events,
Douglas Parking,
Denver
Luke Lee
Managing partner,
Douglas Parking,
Denver
Vendor Relations