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— Property Management Quarterly — May 2015

F

inding the perfect vendor for

any service can be a time-

consuming and challenging

endeavor, and selecting a

parking operator is no excep-

tion. Without firsthand experience

in the parking industry, one may not

know what to look for and how to

evaluate your options. Every com-

pany will say why they are the best

and they all might have compelling

arguments, but there are important

criteria to analyze when making this

important decision. Following are a

few tips on what to look for when

selecting your next parking operator.

1. Experience.

It’s important to

know if the potential company has

experience with a project similar

in size and scope. For this, quantity

does not always equate to quality.

Just like any other industry, there

are parking companies that care-

fully select which properties to

manage and other companies that

have a set corporate system and

growth strategy that is to conquer

everything in all markets. As long as

your potential vendor can prove it

is qualified to serve your property, it

should not matter how many facili-

ties it currently manages.

2. Responsiveness.

Parking is a 24/7

business, especially in busy urban

environments such as Denver. It’s

best to ensure that your potential

vendor is available to provide cus-

tomer service at any hour (depend-

ing on need) and has a quick

response time in case of emergen-

cies. A local team is better than an

outsourced call center because the

local team can provide a higher level

of service to the

customers with

a greater under-

standing of the

property, parking

operation and city.

General emails and

questions should

be responded to

within a reason-

able amount of

time during the

business day and

after hours.

3. Transpar-

ency.

Establishing

a trusting relation-

ship with your

potential parking

vendor is critical. This typically hap-

pens over time through network-

ing by attending organization (such

as Building Owners and Manag-

ers Association and International

Facilities Management Association)

meetings and activities, and work-

ing together at charitable events and

committees. If you have a chance to

work with a vendor in a nonbusi-

ness setting, you can get to know

them on a different level outside of

the business world.

A parking contract is not the same

as a simple one-and-done vendor

contract; the parking operator is

“moving in,” per se, and often han-

dling thousands, even millions, of

dollars in revenue. Trust is critical to

a property manager’s and owner’s

confidence. One must feel com-

pletely comfortable with the park-

ing operator and know that he has

proper controls in place to ensure

revenue will be

maximized. You

want to make sure

that their account-

ing and cash han-

dling processes are

transparent and

that all manage-

ment reports are

clear and contain

backup documen-

tation when neces-

sary.

Reports that

are not clear or

do not maintain

user-friendly readability should be

adaptable and adjusted to best meet

your needs. How can you do this?

Ask questions, ask for the documen-

tation, hire a third-party auditor or

have your potential vendor sit down

for a polygraph test. OK, that last

example is a stretch, but you get the

idea. If a company is unwilling to

discuss its reporting or process, it

may have something to hide.

4. Flexibility.

It’s important for

your potential vendor to be flexible

with operations and make quick

decisions. Whether it’s to fill your

facility for an unexpected special

event to maximize revenue or solve

a parking problem for a major ten-

ant, you want your vendor to have

the skillset and authority necessary

to remain flexible and proactive.

This means cutting the red tape and

finding a vendor who empowers his

local operations team.

5. Reputation.

While most requests

for proposals require a list of refer-

ences, often these references go

uncalled. First-person references in

the same city usually will tell it to

you straight. It is important to ask

questions related to the other cate-

gories – response times, attention to

detail, how often you see upper-level

management, etc. These can be indi-

cators as to whether a company has

time to give you the level of atten-

tion necessary to ensure your park-

ing is a blessing. If not, your parking

will continue to frustrate you.

6. Attention to detail.

Does the ven-

dor pick up on your “red flags?” Is

the vendor sensitive to your needs

and communication patterns? Does

he make requested changes, and

are they made in a timely manner?

Does the vendor follow up in a way

that works for you so you know

things are getting done when you

need them done?

A good vendor will follow up with

you as much as needed. An operator

should at minimum suggest regular

meetings (weekly, monthly, quarter-

ly, as needed) so that he can main-

tain regular communication and

ensure your needs and the needs of

your garage and tenants are met.

If you keep these criteria in mind

while selecting your parking ven-

dor, then you will be on the right

track. Another important aspect is

to ask senior-level managers in your

organization for their advice – there

could be elements that they look

for that are not included in the list

above. Taking the time to carefully

vet and select a parking vendor will

save you a lot of headaches in the

end.

s

Justin

Montgomery

Director of

business

development and

special events,

Douglas Parking,

Denver

Luke Lee

Managing partner,

Douglas Parking,

Denver

Vendor Relations

Tips for selecting a reliable parking operator