{"id":13470,"date":"2015-07-31T05:00:36","date_gmt":"2015-07-31T12:00:36","guid":{"rendered":"http:\/\/www.yardi.com\/blog\/?p=13470"},"modified":"2020-12-24T04:25:06","modified_gmt":"2020-12-24T12:25:06","slug":"parking-roi","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/parking-roi\/","title":{"rendered":"Parking ROI"},"content":{"rendered":"

For most of us, parking is little more than a necessary evil. If we could, we\u2019d use the parking space for more units and enjoy the additional cash flow. But what if your parking lot could become an asset? From practical to extravagant, these creative parking solutions can transform a requirement into a revenue-generating tool.<\/p>\n

\"Creative<\/a>
Creative angled parking. Image via pai.uk.com<\/figcaption><\/figure>\n

Creative Parking <\/strong>In metropolitan areas, the ability to offer multiple parking spaces per household may give you an advantage\u00a0over the competition. Get the most out of your available space by ditching the traditional parking scheme for one that is growing in popularity in the UK. The layout above permits narrower rows thus potentially more rows for your site.<\/p>\n

\"Automated<\/a>
Automated parking tower. Source: WebUrbanist.<\/figcaption><\/figure>\n

 <\/p>\n

 <\/p>\n

Automated Parking <\/strong>Urban luxury properties may consider electronic self-parking. The featured automated parking tower above is for a Volkswagen plant but add in a \u201cvalet\u201d for the electronic system and you\u2019ve tapped into a marketing feature. (Robotic Carpark<\/a> in Dubai shows a non-commercial application.) It only takes 15 seconds to park or retrieve a vehicle. While the space savings is significant and the amount of parking you can offer tenants is appealing, the bragging rights may be a tower\u2019s greatest appeal.<\/p>\n

Commuter Options <\/strong>Shuttle may be an excellent asset for suburban rental communities. When you can\u2019t offer residents direct access to public transit, a shuttle to and from the nearest station can be even better. Residents gain access to affordable transportation into the city without concern for\u00a0weather conditions, paid parking at the station, or parking security. Before implementing a plan, a quick survey from the community may help you determine the cost structure and travel times that will be most successful.<\/p>\n

\"111<\/a>
111 Lincoln Rd, Miami. Source: AlterNow<\/figcaption><\/figure>\n

 <\/p>\n

 <\/p>\n

Added Amenities<\/strong> Adding amenities to parking areas is another way to generate revenue. Traditionally, this has come in the form of an auto-detailing center but several properties have established small retail shops and kiosks. The key is to cater to businesses that don\u2019t require much space to operate, yet garner lots of resident attention. You can effortlessly market a smartphone repair shop on your property. Dry cleaning drop-off and pickup makes it a breeze for residents to prep for work and social events. Leasing out a few spaces each week to food trucks not only feeds your busy residents but it also encourages a social atmosphere and a sense of community. All of these options require minimal upfront investment while generating long-term income and adding value for renters.<\/p>\n

\"Parking<\/a>
A parking lot with trees. Source IMS<\/figcaption><\/figure>\n

Green Space <\/strong>Green space has a proven ROI and promotes resident retention<\/a>. Planting trees in the row dividers and medians of your parking lot goes a long way towards improving its aesthetic value. (Arborist inspections<\/a> minimize liabilities while preserving your investment.) Lining the balconies of parking decks with planters is a great way to add pops of color when soil is unavailable.<\/p>\n

What creative parking solutions have you seen that transform traditional lots into assets for the community?<\/p>\n","protected":false},"excerpt":{"rendered":"

For most of us, parking is little more than a necessary evil. If we could, we\u2019d use the parking space for more units and enjoy the additional cash flow. But what if your parking lot could become an asset? From practical to extravagant, these creative parking solutions can transform a requirement into a revenue-generating tool. […]<\/p>\n","protected":false},"author":440,"featured_media":13472,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[41,789,1171,1172,182],"class_list":["post-13470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-development","tag-innovation","tag-parking","tag-self-parking","tag-transportation"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"For most of us, parking is little more than a necessary evil. If we could, we\u2019d use the parking space for more units and enjoy the additional cash flow.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardi.com\/blog\/parking-roi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Parking ROI\" \/>\n<meta property=\"og:description\" content=\"For most of us, parking is little more than a necessary evil. If we could, we\u2019d use the parking space for more units and enjoy the additional cash flow.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/parking-roi\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2015-07-31T12:00:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-12-24T12:25:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/06\/angled-parking.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"622\" \/>\n\t<meta property=\"og:image:height\" content=\"418\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Erica Rasc\u00f3n\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Erica Rasc\u00f3n\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/blog\/parking-roi\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/parking-roi\/\",\"name\":\"Parking ROI - Yardi Corporate Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/parking-roi\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/parking-roi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/06\/angled-parking.jpg\",\"datePublished\":\"2015-07-31T12:00:36+00:00\",\"dateModified\":\"2020-12-24T12:25:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/d63afaf076d5863391dd49858ccef2ac\"},\"description\":\"For most of us, parking is little more than a necessary evil. If we could, we\u2019d use the parking space for more units and enjoy the additional cash flow.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.yardi.com\/blog\/parking-roi\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.yardi.com\/blog\/parking-roi\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.yardi.com\/blog\/parking-roi\/#primaryimage\",\"url\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/06\/angled-parking.jpg\",\"contentUrl\":\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/06\/angled-parking.jpg\",\"width\":622,\"height\":418,\"caption\":\"Creative angled parking.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.yardi.com\/blog\/parking-roi\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.yardi.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Parking ROI\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.yardi.com\/blog\/#website\",\"url\":\"https:\/\/www.yardi.com\/blog\/\",\"name\":\"Yardi Blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.yardi.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/d63afaf076d5863391dd49858ccef2ac\",\"name\":\"Erica Rasc\u00f3n\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/09382010b8c97da56343095c2854ad7733a3c2e094f59f75eb5ef1aacf501bcf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/09382010b8c97da56343095c2854ad7733a3c2e094f59f75eb5ef1aacf501bcf?s=96&d=mm&r=g\",\"caption\":\"Erica Rasc\u00f3n\"},\"description\":\"Erica Rasc\u00f3n specializes in online content creation and social media. She joined Yardi in 2011 after receiving her bachelor's degree from Kennesaw State University and serving in the Peace Corps. Erica's interests include sustainability, philanthropy, and the arts.\",\"url\":\"https:\/\/www.yardi.com\/blog\/author\/ericajarrell\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Yardi Blog","description":"For most of us, parking is little more than a necessary evil. If we could, we\u2019d use the parking space for more units and enjoy the additional cash flow.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.yardi.com\/blog\/parking-roi\/","og_locale":"en_US","og_type":"article","og_title":"Parking ROI","og_description":"For most of us, parking is little more than a necessary evil. If we could, we\u2019d use the parking space for more units and enjoy the additional cash flow.","og_url":"https:\/\/www.yardi.com\/blog\/parking-roi\/","og_site_name":"Yardi Blog","article_published_time":"2015-07-31T12:00:36+00:00","article_modified_time":"2020-12-24T12:25:06+00:00","og_image":[{"width":622,"height":418,"url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/06\/angled-parking.jpg","type":"image\/jpeg"}],"author":"Erica Rasc\u00f3n","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Erica Rasc\u00f3n","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.yardi.com\/blog\/parking-roi\/","url":"https:\/\/www.yardi.com\/blog\/parking-roi\/","name":"Parking ROI - Yardi Corporate Blog","isPartOf":{"@id":"https:\/\/www.yardi.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.yardi.com\/blog\/parking-roi\/#primaryimage"},"image":{"@id":"https:\/\/www.yardi.com\/blog\/parking-roi\/#primaryimage"},"thumbnailUrl":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/06\/angled-parking.jpg","datePublished":"2015-07-31T12:00:36+00:00","dateModified":"2020-12-24T12:25:06+00:00","author":{"@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/d63afaf076d5863391dd49858ccef2ac"},"description":"For most of us, parking is little more than a necessary evil. If we could, we\u2019d use the parking space for more units and enjoy the additional cash flow.","breadcrumb":{"@id":"https:\/\/www.yardi.com\/blog\/parking-roi\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.yardi.com\/blog\/parking-roi\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardi.com\/blog\/parking-roi\/#primaryimage","url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/06\/angled-parking.jpg","contentUrl":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/06\/angled-parking.jpg","width":622,"height":418,"caption":"Creative angled parking."},{"@type":"BreadcrumbList","@id":"https:\/\/www.yardi.com\/blog\/parking-roi\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.yardi.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Parking ROI"}]},{"@type":"WebSite","@id":"https:\/\/www.yardi.com\/blog\/#website","url":"https:\/\/www.yardi.com\/blog\/","name":"Yardi Blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.yardi.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/d63afaf076d5863391dd49858ccef2ac","name":"Erica Rasc\u00f3n","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.yardi.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/09382010b8c97da56343095c2854ad7733a3c2e094f59f75eb5ef1aacf501bcf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/09382010b8c97da56343095c2854ad7733a3c2e094f59f75eb5ef1aacf501bcf?s=96&d=mm&r=g","caption":"Erica Rasc\u00f3n"},"description":"Erica Rasc\u00f3n specializes in online content creation and social media. She joined Yardi in 2011 after receiving her bachelor's degree from Kennesaw State University and serving in the Peace Corps. Erica's interests include sustainability, philanthropy, and the arts.","url":"https:\/\/www.yardi.com\/blog\/author\/ericajarrell\/"}]}},"jetpack_featured_media_url":"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2015\/06\/angled-parking.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/13470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/users\/440"}],"replies":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/comments?post=13470"}],"version-history":[{"count":8,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/13470\/revisions"}],"predecessor-version":[{"id":13760,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/posts\/13470\/revisions\/13760"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/media\/13472"}],"wp:attachment":[{"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/media?parent=13470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/categories?post=13470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.yardi.com\/blog\/wp-json\/wp\/v2\/tags?post=13470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}