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A lot goes on behind the scenes in managing a parking facility. Gone are the days when management consisted of a parking attendant monitoring the lot and taking cash-only payments from inside a booth. The parking industry has evolved and features some of the world's most dynamic and leading-edge technologies. It is time for your parking management strategy to evolve with it.

Below are five things you must consider to manage your parking facility in 2023 successfully.

1.     Partner with a credible parking service provider. 

If you own or manage a property that requires parking access to be managed and controlled, with or without paid regulations, you must partner with a credible parking services provider. When choosing a vendor for your parking equipment, management services—or both—you must do your due diligence to invest in the right technology and services that will save you from unforeseen costs. For starters, request a facility tour. You'll want to ensure that the parking vendor you partner with can operate at the level you need them to. 

2.     Select parking equipment that fits your operational and customer needs.

Once you find the right parking supplier, the next step is choosing the most suitable parking equipment for your property needs. Parking equipment is the foundation of your parking operation. Ensure you ask yourself the right questions. Does my facility primarily cater to repeat or transient customers? Should I invest in parking meters, a gated parking system, license plate recognition, or simply a mobile payment app? Can my equipment be easily upgraded and integrated with third party softwares? These are the questions you must ask yourself before investing in parking equipment.

3.     Secure ongoing maintenance and technical support for your equipment. 

Once you choose what type of parking equipment to invest in, you'll want to secure ongoing maintenance and technical support. A critical but commonly overlooked aspect of this process is a supplier's ability to provide you with ongoing support. Factors you'll want to consider are warranty and parts supply programs, installation and ongoing maintenance packages, self-maintenance training, technical service, and back-end troubleshooting.

4.     Ensure you follow secure payment processing procedures. 

It's also crucial to protect your business from fraud and theft. Protecting you and your customers should be top of mind if you're processing payment or private information. Aside from ensuring your financial processing procedures and technology are up to date, it is vital to ensure your parking operator specializes in certified financial processing services and complies with Canada's Payment Card Industry Data Security Standard (PCI-DSS). Knowing that their financial information is secure provides peace of mind for you and your customers.  

5.     Explore integrations that make managing your parking facility easier.

Once you decide on all of the above, you can begin exploring integrations that will make managing your parking program much easier. For example, connecting your parking system to a live central monitoring station will allow you to keep tabs, 24/7, on your operation—at a fraction of the cost of onsite parking attendants. Offering parking permits will secure you recurring revenue from the get-go. Mobile parking platforms will increase your parking revenue at an affordable price tag. And value-add services and amenities, such as marketing, facility maintenance, electric vehicle charging stations and more, will make your parking operation profitable and proficient.

A turnkey or full-service parking management provider will always be the right fit. It will reduce the stress of overseeing a parking program and ensure you maximize your investment by relying on in-house resources and expertise.

Reference

Powell, J. (2022, March 18). How to manage a parking lot 101. Parking Industry. Retrieved March 13, 2023, from

Justin Powell

Director, Western Canada, Precise ͵ÅÄ͵¿ú