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With more than 30% of residential communities suffering from parking pains, it's a no-brainer to navigate these parking pitfalls toward smoother satisfaction rates. During planning and budget season, when the weight of cost-intensive solutions feel heavy, consider three steps to solve parking without additional investment.
When it comes to towing in multifamily communities, nobody wins — except the tow companies. For everyone else, there's zero upside. So, how do owners and operators change the game? By fixing parking and managing expectations, and ultimately improving the resident experience and net operating income.
Residents don't typically comment on a seamless parking experience in online reviews, but troublesome situations compel them to share their negative experiences. However, there is a way to solve parking issues easily, despite current perception — putting control in the residents' hands.
HOV/toll lanes currently cover more than 5,500 miles of highways in the United States. These lanes put the power in the hands of drivers. Handing over control makes a big difference in cost perception, and it's a path that multifamily needs to follow for community parking.
The evolution of parking and continuous economic fluctuations are inevitable and many additional changes are on the horizon. Regardless of how many occupants there are per unit, owners and operators have avenues for protecting revenue by maintaining resident satisfaction and reputation.
The automobile is as quintessentially American as apple pie. It is deeply interwoven within our nation’s identity, and we’ve built a nation centered around their existence, including the creation of the interstate highway system, the drive-thru and parking spaces. Lots and lots of parking spaces.
One tug of a loose thread and the whole thing could come unraveled, which aptly frames the challenges many communities face when it comes to parking. On average, 1.7% of your residents are responsible for almost 100% of your towing issues. They can create bigger problems down the…
Some communities don't have to worry about parking. The funny thing is parking isn't "a thing" until you don't have it…and then it's a "big thing!" Any hiccups in the process can lead to frustration, complaints to onsite teams and friction between neighbors.