Increase Revenue and Returns on Parking Assets
Be sure to visit with PatrolWorks in Booth 330 at the Parking Industry Expo (March 12-14)!
We are also participating on a panel – LPR Before and After – on Wednesday at 9:30 AM. We will be outlining how integrating permitting with LPR enforcement can deliver significant benefits for owners of Multi-Family Properties (apartments, HOA, universities) and Pay-to-Park Lots.
With PatrolWorks With LPR (PW±LPR) Muti-Family Property Owners are equipped to:
- Improve Safety and Security: Replacing stickers with License Plates as the permit enables frequent (mobile) LPR patrolling. This in turn discourages illicit activity in the lot (reducing risks/liabilities) and provides greater management control of the vehicles in the community.
- Increase Revenue and Property Value: PW±LPR makes paid permitting simple. Parking becomes an easy add-on service – like baggage fees on an airline ticket. Flexibility to differentiate pricing (e.g., carports, garages vs. surface lots) and to charge for guest permits adds to the upside potential.
- Save Time at Properties: PW±LPR includes mobile-friendly web apps (portals) that enable automated workflows, and for resident “self-service” management of their parking permission – e.g., to transfer permits to a newly purchased vehicle or a temporary rental car. This frees more time for managers for sales and marketing priorities.
- Increase Resident Satisfaction and Convenience: The security improvements add to the comfort and peace of mind of residents in a societal environment where security has become an ongoing and everywhere concern. In addition, the self-service capabilities eliminate trips to the office for permitting.
Most owners of Pay-to-Park Lots are aware that their assets are not reaching their full revenue-generating potential. PW±LPR equips owners to address the two most prevalent shortfalls:
- Plugging Revenue Leaks: Lost revenue from vehicle owners who choose to Not Pay or Overstay are minimized. In contrast to most approaches, PW±LPR replaces “hope” as a strategy by coupling permitting with frequent LPR enforcement. Vehicle owners scan a QR code and enter their LP to purchase a parking permit. LPR Enforcement then ensures policy compliance. Enforcement is typically impounding (vs. immobilization) such that the vehicles in violation are no longer consuming revenue generating spaces.
- Capturing Pricing Opportunities: Many conventional offerings are limited to “fixed” pricing. It becomes too cumbersome or labor intensive to adjust to demand patterns. PW±LPR accomplishes this digitally. For example, an owner of a pay-to-park lot in KC was able, digitally, to increase permit prices to $25/hr. for the Super Bowl celebration – from their computer!
And many pay-to-park opportunities are waiting to be discovered – such as employee lots after hours, or truck stops.
Experience the future firsthand at our upcoming expo! Register now to secure your spot and gain access to groundbreaking technologies, inspiring speakers, and networking opportunities that will propel your business forward. Don’t wait – join us as we chart a course toward innovation and success. Reserve your place today and be part of the conversation shaping tomorrow’s industry landscape.
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