4 Benefits of Smart Parking at Multifamily Communities

By: Sabrina Zeitohn

Aerial view of parking at an apartment community.Aerial view of parking at an apartment community.
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You may be aware of smart home technology that automate property management chores for site teams like access control and self-guided tours, or smart home IoT (Internet of Things) devices like locks and thermostats—but what about parking management?

Parking, regardless of what your community looks like, can be a headache. Residents struggle to find open spots, leaving them frustrated as they circle the lot to park their vehicles. Because of this, 60% of residents said they would pay more (as much as $75 extra) each month for a reserved parking spot.

Incorporating a parking management system improves productivity and organization for site teams, while making a difference in resident retention and satisfaction.

Alloy Parking from SmartRent streamlines and automates the common pain points that you, your site teams, and your residents may face when it comes to parking. Let’s take a look at the benefits of investing in a smart parking management platform that can vastly improve parking at your community while increasing your revenue.

1. Personalizing your parking layout

There’s no one-size-fits-all approach for improving your community’s parking. With Alloy Parking from SmartRent, our field team conducts a thorough survey of the layout and interviews your site teams to better understand their unique challenges.

Access to a personalized parking layout gives your site teams better visibility into viewing, managing, and assigning parking spaces. That’s why we’ve partnered with Engrain to provide your community with free interactive maps so you can better manage parking statuses, types, and assignments.

2. Integration with existing Property Management Systems

Your Property Management System is the bread and butter to you and your site teams, automating how you manage your community’s daily operations. SmartRent’s Alloy Parking integrates with RealPage, Yardi, and Entrata to provide you with a streamlined parking management system. These PMS integrations are split into three syncs:

  • Sync resident parking space reservation from PMS (RealPage and Entrata) to SmartRent

  • Vehicle information records import syncing from PMS (RealPage, Yardi, Entrata) to SmartRent

  • Vehicle information records export syncing from PMS (RealPage and Yardi) to SmartRent

3. Access to parking analytics

A well-organized parking management system will provide you with real-time analytics to your community’s parking vacancy. With SmartRent’s Alloy Parking solution, you’ll have access to real-time reporting on parking space inventory. Parking sensors give you data insights on who is parking where and for how long, allowing you to identify peak parking times and maximize profits.

Access to these reports will help you and your site teams better understand your unique parking trends. Once implemented, Alloy Parking becomes the single source of truth, meaning that you can say goodbye to guessing how many parking spaces you have available at any given time.

4. Ancillary income from guest parking

Ancillary income refers to any revenue that is not generated from your primary product or service. While it is not sustainable to rely on as a standalone income, parking is a great way to bring in extra revenue and value for your property.

When it comes to parking at multifamily communities, there’s usually limited spaces for guest parking. Guests are then tempted to park in residential spaces, leading to more frustrations for residents who already have trouble finding available parking spots. Alloy Parking can help minimize these frustrations. Residents will have assigned spaces, while visitors will park in designated guest parking spots.

Through the use of customizable guest parking signs, guests visiting your community can scan a QR code and pay for parking without needing to download an app.

Elevate your multifamily community

Alloy Parking from SmartRent not only gives you more control over parking in your community, but also enhances the parking experience for residents and their guests. Contact us to learn more and set up a real-time demo.