CRE Investing Tip of the Week | Monetize Parking
Updated: Sep 1, 2019
Monetizing parking spaces is a great avenue for increasing revenue from your asset. The best fit from what we've seen is for multifamily properties but has potential for warehouse and office parking as well.
I was recently introduced to a vendor who provides the app and support software for a near turn-key solution. Once implemented, residents manage their parking spaces and payments through the secure app. Property management validates the activity and controls pricing through the manager dashboard.
Does your warehouse or office have unused parking spaces in a tight area of town? Think VRBO for your parking spaces. Designate the parking spaces with an approp. Users can setup hourly, daily, and monthly agreements as per your instructions.
Increase cash flow and the value of your property by monetizing your parking spaces. Let's discuss this and other avenues for adding value to your real estate investments. Give me a call at 904-834-9809 to see if this makes sense for you.
Jake Ammon is a Vice President with Addison Commercial Real Estate in Jacksonville, FL. He specializes in commercial investment properties. Contact him at email@example.com or call Jake at 1-904-834-9809.