Selecting a parking operator is no different than selecting a business partner. Unlike most property vendors (cleaning, security, landscaping), the parking operator operates a stand-alone profit & loss business at your property, that includes collecting and controlling cash receipts. The success of the parking operation can have a significant impact on the value of your property.

Whether you are entering into a parking lease or a parking management agreement, the following criteria should be carefully evaluated when selecting a parking operator for your property:

Reputation and integrity of parking operator and its local representatives

Financial strength of parking operator

Financial controls for collecting, auditing and reporting revenue

Willingness to tie portion of fees to financial performance of your property's parking operation

New business and expense allocation strategy

Employee hiring and screening process

Amenity program for your tenants

Use this Parking Operator Evaluation Checklist to assess a parking operator using these criteria.