By Don Abell, TEZ Technology and
Megan Leinart, Leinart Consulting
Feburaury 2024

As one of the top sought-after amenities by savvy and discerning consumers, but oftentimes not optimized or prioritized by property management, parking solutions have quickly become the new deal maker…or deal breaker…in today’s uber-competitive residential buildings market.

One of the most unique sectors of parking management can be found in residential communities. In today’s market, with the cost of housing and rent continuing to rise at unprecedented rates, residents have much higher expectations when it comes to certain amenities like parking. Speed, access, security, and convenience are all at a premium for both residents and their guests. Parking also plays a pivotal role in the overall resident experience and helps create the sense of home and community that many are searching for, which is invaluable when both attracting and retaining residents. The good news is that although residents’ expectations are rising, so too is their willingness to pay a premium for such amenities.

When it comes to meeting today’s high standards and expectations, residential parking operators play a vital role as an extension of the building, not only delivering on those standards but also being the consistent first and last impression for residents & guests. Valets have become the equivalent of doormen in today’s day and age, with levels of interaction at all-time highs. They are responsible for greeting residents & guests and creating a safe space upon their arrival home, protecting one of their most valuable material assets, and then having their car ready again upon departure, thus providing an overall enhanced level of service on both ends.

To a resident & guest, the operator and the building are often perceived as one and the same, so maintaining a high level of service and experience can be both perception and reality. With so many moving parts and busy people in the mix, having a residential operator who can effectively manage your parking operations is critical. There’s certainly the staffing component of having trained personnel who can actually deliver the service, and then there’s the technology component of having a dependable and robust platform for the staff to utilize to manage the process in its entirety.

In today’s constantly evolving digital world, with an increasingly tech-savvy population and their ever-growing device dependency, technology offers endless opportunities to optimize parking management and maximize residential parking experiences. Property management, operators, and communities alike are all-embracing today’s sophisticated parking technology solutions to significantly improve the overall parking experience for residents & guests, while also providing necessary efficiencies and streamlined processes to deliver top-notch service and impact their bottom lines. With leading-edge and forward-thinking technology features like AI-powered predictive analytics for parking demand and response times, real-time reporting, and easily accessible, customer-friendly Android and iOS apps, smarter parking platforms are leading the way in affecting the industry.

TEZ Technology works with parking operators and residential communities nationwide to meet the expectations of residents in the communities they call home. As a pioneer in the parking and mobility industry since 2011, TEZ is renowned for its ticketless and app-free innovations in mobile-enabled technology and payments for both self-park and valet operations, contributing to effective and efficient parking management solutions. With over 5,000 successful implementations globally, including at many top residential communities, TEZ remains at the forefront of parking management across multiple industries via its cloud-based platforms and comprehensive solution suite.

The TEZ solutions suite includes SMS Valet and TEXT2PARK, which offers the most innovative benefits specifically for residential communities. These include:

  • Improved Communications: drastically reduces waiting times as valets communicate directly with residents & guests in real-time.
  • Improved Response Times: allows residents & guests to request their vehicles quickly and easily via their devices and then have them promptly retrieved and ready for departure.
  • Touchless Payments: app-free and contactless mobile parking payments made easy, including tipping.
  • User Amenities: allows operators to manage and support other available user amenities like EV charging, car washes, and more.
  • Enhanced Security: increases the ability to track vehicles, reduce theft potential, and monitor user locations.
  • Increased Technology Adoption: improves communication between the residents & guests and valet staff to facilitate more accurate tracking and data capture.
  • Cost Reduction: eliminates the need for parking equipment/hardware investment and the associated costs of keeping up with software updates, new equipment releases, and overall maintenance.
  • Enhanced Customer Support: direct responses to resident & guest requests and questions in real-time for increased mobility and flexibility.
  • Transformed Operations: facilitates improvements in budgeting, staffing, and scheduling procedures that directly impact the bottom line.
  • Support Multiple Validation Types: provides flexibility to support more than 20 different validation types.
  • Smart Damage Check: TEZ’s SpeedCheck reduces damage and liability claims with real-time, quality vehicle image capture.
  • Mobile Applications: TEZ’s VIP Parker app (Android and iOS versions) has a modern and user-friendly interface with innovative features making parking management easier to use, including personal account settings/features, location favorites, direct communications with valet staff, payments, receipt management, and more.
  • Business Intelligence (BI) Tool: TEZ LENZ is a robust BI tool with extensive reporting capabilities that empowers strategic decision-making with data insights essential for staying ahead in a competitive market.

For residential communities, parking represents far more than just a practical necessity— it’s an opportunity to enhance a resident’s quality of life, while at the same time, rethinking urban spaces and cultivating vibrant, inclusive communities as a whole. With space at a premium and the industry facing ever-increasing parking congestion challenges, as well as continually vacillating mandates and regulations from various governing entities, residential communities can leverage advancements in technology and smarter parking solutions to address all of their needs.

Whether you’re a luxury high-rise or an apartment or condo building looking to enhance the resident experience and make parking easier for your residents & guests, TEZ’s innovative suite of smarter parking solutions helps optimize your operations quickly and maximize your profits.

To learn more about TEZ Technology’s solution suite, be sure and visit us at teztechnology.com or you can book time with us today!