Do I need a parking management company?

So you’ve got parking problems? Should you hire a parking management company to solve your issues?

Let’s have a quick look.

What is a parking management company?

In the traditional sense, a parking management company is a 3rd party provider who is contracted to optimize the running of a car park.

Also known as car park operators, examples would include APCOA, Impark & Laz Parking.

What problems do parking management companies tend to solve?

Depending on the type of parking lot, their scope of work may include factors such as:

– Access management
– Revenue management
– Parking allocation
– Enforcement
– Car park layout
– Security and monitoring
– Maintenance

It is worth noting that the vast majority of management companies would be very strong on everything related to running a public facing commercial car park. So the revenue management and maintenance for example.

However, they would have very little experience managing large scale employee car parks for example.

Who tends to hire a parking management company?

Parking companies are very popular among large scale property owners. If they have a few multi-storey car parks in their portfolio, they will probably look to outsource management.

There are multiple benefits to this model. Car park operators have an expertise in maximising revenue. The right partner can unlock large revenue increases for property owners.

Over the years residential and office complex owners have tried parking operators with mixed results. Parking companies are often brought in to try and solve complex parking issues.

If the problem is a straightforward enforcement issue, success rate tends to be high. However, their expertise is limited with more complex problems. Property owners are increasingly starting to look to parking management software to get greater bang for their buck.

What are the alternatives to a parking management company?

Traditionally, if you couldn’t find a parking management company to suit your needs you were left to your own devices.

In the last couple of years, this has changed. Parking software has exploded and in many cases can now solve incredibly complex parking problems in minutes.

If you are thinking about hiring a parking management company, reach out to a leading parking management software to see how they can help.

They tend to be much cheaper and can deliver better results in less time. If your problem pertains to employee parking, check out Wayleadr.com. As the world’s leading employee parking software, Wayleadr.com makes parking problems go away for companies all over the world.

What does the future look like for these companies?

Parking management is undergoing a rapid digitisation and parking companies are in a real state of flux. As digital parking companies become the largest players in the sector, they are starting to buy traditional parking companies. An example is REEF’s (formerly ParkJockey) purchase of Impark.

Many parking management businesses can be slow to adopt technology. As they are snapped up by digital parking companies the parking industry will become increasingly driven by technology.

So if you are starting out on your journey, look to technology first. It is all going to end up with technology regardless. You might save yourself a lot of time, money and hardship by getting ahead of the industry.

For a more in-depth insight into the future of parking management companies – check out this blog.

Join industry leaders from companies like Sanofi, Indeed.com & CBRE, schedule a demo with Wayleadr.com today and solve your parking problems in the click of a button.