SmartRent, a provider of smart home automation for property owners, managers, developers and residents, announced its new smart parking management system, Alloy Parking. The system introduces new features that leverage the latest IoT technology to streamline the parking space management process for multifamily site teams, while increasing revenue by monetizing underutilized spaces.
The increase in car ownership is driving the demand for better parking solutions as residents forego public transit and purchase cars for the first time — especially in urban areas. At the same time, residents are turning to micro-mobility alternatives like motorcycles, bikes and e-scooters. Even though cities are loosening their parking ratio requirements for new construction, the majority of existing apartments are built on antiquated needs. This creates challenges for property owners who need to optimize — and monetize — their leased and guest parking for new, unpredictable shifts in travel patterns and vehicle ownership.
“As property managers adapt to dynamic trends in car ownership and mobility, they can no longer rely on outdated parking models with ATM-style machines and unused spaces,” said Lucas Haldeman, CEO and Co-founder of SmartRent. “Alloy Parking modernizes the parking model in a time when both residents and property owners want smarter solutions. We saw the need for a seamless software interface that reacts to parking needs in real time, making the parking experience frictionless for residents and flexible for managers.”
To overhaul the cumbersome parking process and enable property owners to make the best use of their parking spaces, Alloy Parking includes features that address key pain points and opportunities:
Create a single source of truth and management for all parking facilities:
Property owners and operators typically have inconsistent inventories and fragmented solutions throughout their portfolio. Alloy Parking solves for this by acting as a single source of truth, with one system that maximizes all parking-related revenue.
Proactively manage resident parking:
From insufficient parking to unauthorized vehicles on property, resident parking is a major pain point. Alloy Parking uses IoT sensors to monitor spaces, automate enforcement and assign parking. Through an online portal, residents have access to their own parking management, which allows them to manage their vehicles, smart decals and see available parking spaces.
Monitor real-time parking availability:
SmartRent partnered with real-estate visualization software Engrain to develop an interactive map, which creates a customized, geo-located visual representation of a community’s parking inventory. This provides staff, residents and guests with rich visualization of space location and real-time availability.
Managers can dynamically adjust pricing for guest parking according to desirability and demand. Additionally, when there is an excess of underutilized assigned parking, owners can easily monetize those spaces by shifting them to guest spaces that generate revenue instead of sitting empty.
Automate access to garages or gated lots:
If combined with SmartRent’s Alloy Access system, when residents are moved into the property management system, the integration will automatically assign mobile credentials to the appropriate parking garages or gated lots. This enables residents to remotely move in without having to meet a manager on move-in day.
Alloy Parking is fully compatible with SmartRent’s Community Manager platform, helping properties manage parking from one easy-to-use platform. In addition to Alloy Parking, SmartRent offers a range of connected, brand-agnostic solutions designed to give multifamily property owners, managers and residents more efficiency, convenience and security protection across their property. Solutions include the Alloy Fusion all-in-one touchscreen hub and thermostat, the newly launched Alloy Access for access control, and self-guided tours. Today, companies like Essex Property Trust, MAA and Aimco use SmartRent to connect, automate, protect and manage tens of thousands of housing units nationwide.