Parking Operators Are Using Dynamic Pricing to Boost Profits

In good times, when buildings are profitable, parking is often an afterthought. It’s considered a necessary part of any property, but rarely viewed as a strategic asset. For many owners, parking operations are simply outsourced to third-party vendors to avoid the hassle of managing it internally. But when times get tough and net operating income starts to drop, as it has across much of commercial real estate in recent years, every revenue line comes under scrutiny and parking comes back into the spotlight.

Unlike most components of a building, parking is one of the few assets that can generate revenue from the general public. It operates more like a commodity than a traditional real estate lease. And like other commodities, pricing should fluctuate based on supply and demand...

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RSK: Seems so simple yet it isn`t. I like the license plate recognition so you just drive in and get billed. In n out parking.