Free Guest Parking Amenities
HOA boards & property managers: do you have a condominium property in your portfolio? If so, check out this case study on free guest parking amenities and see how tenant satisfaction increases.
ParqEx’s client, Lieberman Management Services, manages 340 On the Park (“340 OTP”), a 64-story condominium high rise located in Chicago’s Lakeshore East neighborhood. This building includes an underground parking garage that extends six floors below grade.
340 OTP is home to 343 condo units and has 472 parking spaces in a secure parking garage for their tenants. Of course, residents choose to live here for its spectacular views of Millennium Park and Lake Michigan. But they also live here for the service and amenities.
In the same breath, residents expect their guests also to have amenities available to them. Since parking is costly in this much sought-after neighborhood, the 340 OTP HOA board put the “give to get” parking system in place. This system allows guests to park at the building for free as long as the resident hosting them will make their parking spot available for the program.
The front desk staff was tasked with handling this “give to get” parking system. They were expected to record available spots and manually book them for incoming guests. They were also expected to track credits toward future guest parking needs. As you can imagine, the staff often struggled with managing and keeping up with the demand of this guest parking system.
An old paper-based system was very time-consuming for the staff and guests. They had constant difficulties making adjustments. In addition, they often had to deal with unhappy visitors. Instead of accessing the property quickly, guests had to get out of their vehicles and visit the front desk to check in.
These overwhelming shortcomings, along with the fact that guests could not easily book guest parking ahead of time, made the board seek alternative solutions.
ParqEx heard the complaints and immediately came up with a solution for the HOA board. After addressing the needs of residents and staff, 340 OTP’s board agreed to run a pilot program with ParqEx’s technology on-site. ParqEx’s parking solutions for 340 OTP include GuestParq and Access + technologies.
Right off the bat, ParqEx installed its proprietary Access + technology. Access + allows users to control garage and pedestrian doors with the ParqEx mobile app. Now guests would be able to park as soon as they arrive instead of checking in at the front desk.
With the entry process solved, ParqEx set its sights on alleviating the management burden through the implementation of GuestParq. As a result, management and staff did not need to waste as much time as they had regarded guest parking. With ParqEx’s GuestParq, all guest parking information was immediately captured in the platform instead of by hand.
ParqEx configured their GuestParq solution as an unpaid amenity for 340 OTP. They also held numerous training sessions with staff and residents to ensure everyone understood the system.
Residents and guests quickly grew fond of ParqEx’s system. Similarly, management and staff were relieved to no longer worry about guest parking. Naturally, ParqEx’s GuestParq and Access + solutions were heavily used during the pilot period. As a result, the 340 OTP board officially adopted the technology because of its convenience and effectiveness.
Since implementing ParqEx’s technology on their property, 340 OTP has seen 20+ daily guest parking bookings, 20% time savings for management, and 100% reporting improvement.
“We had been looking for a better way to run our guest parking program, and ParqEx was the only solution that met all our needs. And it has delivered — for the residents, guests, and our staff.” Amy Eickhoff (Property Manager of 340 OTP)
ParqEx is a technology platform that unlocks the hidden value sitting idle in privately-owned parking spaces. Much like 340 On the Park, with ParqEx, HOA boards and property management can reduce operating efforts, save time, and provide a valuable free guest parking amenity to tenants and visitors.