Build less parking and better utilize existing parking spots with Parkade
Parking is a struggle for many.
Drivers have a problem finding a parking spot close to their destination. More than 25% of drivers waste more than 15 minutes each day just looking for a parking spot. Even though many drivers know where to park, over 80% say their problem is knowing if there are available spots.
To try to provide enough parking, most developers of residential, commercial and other types of buildings provide massive amounts of parking on-site.
So why is parking so hard to find?
Because, even though we’ve built 2 billion parking spaces in the United States, most of it is not only empty, but also unavailable to the public. Only tenants can use the parking, and in most residential buildings, each spot owner is the only person allowed to park in their spot.
This has led to the gobs of parking we’ve built sitting empty, most of the time.
However, there is a simple, smart parking solution that can change this gloomy situation. With the help of Parkade, developers can make sure that the parking utilization in their building skyrockets. By partnering with Parkade developers and buildings can plan for less parking and measure parking usage without making any investments into additional hardware.
What is Parkade?
Parkade reimagines parking at residential buildings.
It is an easy-to-use app that automates the leasing of parking to your residents, enables leases of any duration, makes it easy for residents to reserve parking for guests and expands parking capacity by making it easy for residents to reshare unused spots.
Getting your building on Parkade is as simple as creating an account, typing your building's address and inviting the residents in your building to join the parking revolution.
Here’s how Parkade can help you and your community.
Instant and predictable reservations
Many buildings have visitor parking or rent unbundled parking monthly. But getting those spots is unpredictable and even time-consuming.
With Parkade, residents can access a calendar of dates/times visitor parking is available. Residents can reserve those spots instantly or in advance.
Payments + payouts are built-in
With Parkade, accounting headaches will become a thing of the past! Parkade charges rentals straight to resident’s credit card. Building management can transfer the money to their bank account. It doesn’t get easier than that.
At most buildings, long-term parking is doled out by property managers, while visitor parking is free, unassigned and managed with time limits or a messy manual process — like paper passes.
This can be a time-consuming mess for your property management team, and frequently results in poor experiences for tenants. Imagine arriving for move-in at your new apartment, only to discover the last tenant’s car is still parked in your new spot because the property manager double booked your parking spot.
Parkade automates all of that, making it easy for buildings to offer spots that can be reserved, in advance, for a price.
Unbundle right, with Parkade
Whether your building is residential, mixed-use or commercial, unbundling — renting parking monthly for a cost — is a great way to boost revenue and more efficiently allocate parking.
With Parkade, tenants will be able to rent their spots (when they are not in use) to other tenants. The best part about this is that you can get a cut!
How to build less parking with Parkade?
Parking is one of the largest expenses for real estate developers. Parkade can help you better utilize and monetize the parking you've already built and build less next time.
Dedicating a set number of spots for residents and visitors is a tricky science you’re likely to never get right. Parkade makes all parking reservable by your residents and their guests by the hour, day or month.
Step 1: Unbundle your parking and introduce Parkade to your community of residents
Parkade is an excellent solution to all parking issues in your building. Once you introduce it to the community and on-site team, they’ll be able to reserve parking.
This vastly reduces empty spots and can double your parking revenue. Parkade also allows your residents to share their spots when they're not using them, further improving parking utilization at your building.
Step 2: Unlock resharing
Parkade makes it easy for residents who have long-term parking to reshare their spot with others when it’s not in use. This increases your parking utilization over 100%!
You can rent a spot to a tenant for a year, and then they can rent the spot to another tenant’s guest for a weekend. This is a huge win, as you can park more cars in fewer spots.
Step 3: Measure parking usage
Parkade can help you automate and measure parking usage without installing a single piece of hardware.
With Parkade, you’ll even be able to measure how often parking spots are rented long term or reshared with others. The app will also be able to calculate historical usage data, like "parking utilization was 55% for July, 58% for August.”
Step 4: Next time a building is proposed, build less parking
All the parking data you collect with Parkade will not only help you plan how to build new parking spots better. When you build a similar project, you can use all the data collected to show that the city is requiring too much parking to be built.
Mollify concerned neighbors by pointing to your past project, where overflow parking parks on-site in your garage, not on the street.
How much will Parkade cost you?
Using Parkade offers many benefits to the community and building. One of the biggest benefits is that it’s free for buildings to use. There is no fee for buildings to use Parkade; we just take a small commission on paid reservations. When parking is rented, Parkade keeps 10-20% of the cost. There are no up-front fees and no monthly fees.
The benefits don’t end there.
Whenever parking is shared between residents, building owners can take a cut. It's just another way Parkade helps you increase revenue.
Parking is one of a real estate developer's largest expenses. Parkade can help you better monetize the parking you've already built, and build less next time. We've reimagined unbundled parking, and made it possible to rent spots for any length of time — hours, days or on a monthly basis. With the help of our app, buildings can vastly reduce empty spots and even double the parking revenue.
The app has been designed, from the ground up, to perfectly suit the needs of residential, commercial, and mixed-use buildings. The benefits of introducing Parkade to your community are numerous. But, most importantly, it will keep your residents happy and satisfied.
If you like the idea of better utilization of parking spots and more content residents, then make sure to contact us. Once you give us some information about your building, we will contact you and help get things started.