If you have been considering investing in parking lots or parking structures, you are on the right track. There is some serious money to be made in this industry and it is easier to do so than with most other opportunities. However, there are some key factors involved before fully committing to anything regarding parking solutions. Here are a few of these factors.
Location, Location, Location
People that actively use parking facilities are greatly attracted to lots or structures that are located in convenient locations. By convenient, we mean next to shopping complexes, restaurants, or sporting facilities. Office buildings would also fall into this category. While there are certainly parking lots in more out-of-the-way places, they are also not as valuable as the other options.
Condition Of The Facility
What is the condition of the lot, structure, or other parking solutions in which you are looking to invest? Is it rundown looking or lacking in security? Both of these things are huge turnoffs to potential customers and will actively send them elsewhere. While it may cost money to keep a place well-maintained or to install security cameras or hire guards, you will also be able to charge more per spot than you would be able to in a less desirable location.
If you are looking to invest in parking lots, Parking Advisors, Inc. can make your decision on your future investment very easy to make. Hire the industry’s leading parking lots and garage consultants in North America, get parking solutions from the experts. For more inquiries, visit their website or contact them today.