For a long time, the real estate sector was regarded as a traditional sector whose modernization was a major hurdle. This has changed drastically in recent years. In particular, social changes and demographic change as well as urban growth and the digitization of the industry are groundbreaking trends for development, as KPMG analyzed. In particular, 90 percent of respondents to a study by EY and ZIA regard the digitization and automation of processes as important measures for securing a livelihood. Respondents see the greatest potential for digitization, particularly in the area of property management.

While other areas of property management have already been optimized through digitization, the potential of digital control and administration of parking spaces is often overlooked. The digitization of parking space management is a simple and quick way to reduce the effort and costs for parking spaces and to increase real estate value. Find out how this can best be achieved here.

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Relevance of infrastructure for real estate

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In the last 20 years, the proportion of city dwellers in Germany has increased by 3.33 percent increased, more than 75 percent of Germans currently live in cities. There is therefore a great demand for good connections for private use, but also for business. Not only is a good public transport connection relevant here, but also sufficient parking space for increasing number of cars per inhabitant. Ideal are Mobility Hubs, which enable a seamless transition from car to public transport, bike or scooter. Solutions and systems that efficiently solve mobility and parking problems, such as well-thought-out parking options, increase the attractiveness of real estate and the surrounding area and thus increase their market value. This is because property owners and managers of traditionally managed parking areas are confronted with a number of challenges and restrictions that require a great deal of time and money.

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Parking space management challenges for property owners and managers

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High maintenance costs

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If barriers and the associated ticket machines are set up on parking areas, they must be serviced and repaired frequently. For operators, this means system failures, for example due to defective parking barriers. No income is generated during the repair work, which results in a corresponding loss of turnover and a low quality of service for users of the parking areas. In addition, frequent work on the equipment casts a bad light on the parking area and the property, as the parking experience is disrupted by noise and a messy environment.

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Wrong parkers

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In particular in shopping centers, but also in hotels and inns or at train stations and airports, there is the problem of Wrong parkers. People park in the free parking lot of a shopping center, but do not visit the shops located there, but instead take advantage of other shopping offers nearby, visit a friend or use the parking lot as a P+R to take the nearby public transport. Operators thus miss out on a significant amount of revenue. In addition, parking spaces are occupied and the existing parking space for buying and revenue-generating visitors is limited, which leads to a loss of revenue for the shopping center and the stores located there.

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Low profitability

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Many operators are under high pressure to reduce costs in order to maintain or increase profitability. However, system failures and high maintenance costs make this particularly difficult. Every cent counts. Therefore, all sources of income are precisely optimized. Inefficient systems and frequent repairs significantly reduce the profitability of parking spaces.

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Management of different parking conditions

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In mixed-use real estate, shopping centers, airports and train stations, several customer groups, such as residents, customers of shops, office employees and gym visitors, usually use one and the same parking space. There are different plans for each of these groups, all of which must be managed. Managing conditions as well as long-term parkers and discounted tickets involves a great deal of effort for parking space management and involves high costs and sources of error, both of which reduce profitability. Ideally, the resources spent on administration are spent on other, more important activities.

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backlogs

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Especially in buildings with a high frequency of traffic and high traffic volumes during peak hours, barriers and ticket machines impede a smooth flow of traffic at entrances and exits. Backlogs and chaos are unpleasant consequences. If guests have to spend such a long time in the car and lose valuable time on their way, this also has a negative impact on customer satisfaction and the image of the hospital, hotel, airport, train station or shopping center.

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Solution: Digital parking space management for real estate

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High maintenance costs, low profitability and many different conditions are just some of the challenges faced by the real estate industry when it comes to managing parking spaces. These challenges can be overcome through a digitized parking space management concept. In this way, not only can profitability be increased, but the value of real estate can also be increased.

The digitization of parking space management makes it possible to implement and automate more efficient processes and thus optimize parking spaces to the highest degree. Many new solutions in this area are based on the ANPR technologyWhich license plates of the vehicles are automatically scanned when entering and leaving. These are recorded in accordance with data protection regulations and efficiently managed via integrated software. If additional processes are automated, digital and centered administration, analysis, control and monitoring of all parking areas is possible, which optimizes profitability. In addition, providers usually also provide other modularly expandable functions. Peter Park For example, it makes it possible to manage the maximum parking period, issue parking permits and set individual prices for different groups of visitors. All parking space management processes run on a modular, upgradeable platform, which is particularly advantageous when integrating smart mobility concepts in inner-city projects. Some providers, such as Peter Park, also offer tracking of wrong-way parkers. This outsourcing reduces the high level of internal tracking costs for operators.

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Benefits of digitizing parking processes and management

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Low purchase and maintenance costs

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The components of an ANPR system, such as cameras or payment machines, are inexpensive to buy and setting up the tailor-made software takes only a short time. In addition, the new system reduces long-term costs for maintenance, repairs and downtime due to defective barriers and ticket machines, as barriers and tickets are no longer required thanks to ANPR technology. In addition, the barrier-free system eliminates the need for a 24/7 emergency service for barrier failures, which represents an additional cost saving. This reduction in costs leads to higher profitability and, thanks to the uncomplicated system and seamless parking process, to a higher quality of service.

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Minimal effort

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The software manages parking areas much more efficiently than before and the quick and easy access to all data enables analyses and sales forecasts to be created with little effort for employees and operators. If the tracking of parking violations is also shifted to an external provider, costs and personnel costs are also saved here and at the same time more capacity is created for other areas.

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High profitability

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In particular, the function of different pricing for different customer groups makes it possible to increase the profitability of parking spaces. This is made possible by individually coordinating and implementing prices in the software. In addition, the system optimizes parking space management, which leads to greater profitability through efficiency. Another optional source that increases sales is the reliable tracking of parking violations. While external providers reduce costs and personnel costs, revenue is also increased through regular and continuous follow-up. A significant aspect of maximizing profitability is reducing maintenance, repair and downtime costs due to barriers or ticket machines, as both components are no longer required in digital parking space management.

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Increase in the value of real estate

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Last but not least, one decisive factor in the real estate sector must not be forgotten: maintaining and increasing the value of real estate. With the help of digital parking space management, real estate is upgraded through simple and efficient parking and administration. Fast and customer-friendly parking also increases attractiveness for guests, residents and visitors, which leads to higher satisfaction and more and more pleasant visits. The image of the respective property is also improved; they look modern, sustainable and very customer-friendly. The positive image can also influence the value and increase it in this way.

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conclusion

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Digital parking space management helps property owners and managers to increase the value and attractiveness of the property, increase its profitability and make visitors more satisfied. But with digitization, real estate contributes to much more than just customer satisfaction. They are an important part of urban infrastructure and can be set up slowly Mobility Hubs contribute to a more sustainable future with the help of digital parking space management. With their responsibility and the appropriate changes, a step in the right direction can be taken.

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