Case Study: Greystar achieves $77,000 in parking revenue with Parkade

Greystar unlocks $77,000 in parking revenue with Parkade

Greystar, a major property management company, faced significant parking challenges at its Park East apartment building in Los Angeles during its lease-up phase. The property had a tight parking ratio with high demand from residents, commercial tenants, and guests, especially due to its proximity to Dodger Stadium. Manual management was not an option, as it risked unauthorized parking, enforcement headaches, and leaving potential revenue unrealized. They turned to the vendor Parkade for a solution.

Parkade provided a platform for self-serve parking assignments, revenue management, and 24/7 enforcement. This allowed Greystar to easily monetize vacant spots through short-term guest parking and event partnerships. The results were substantial, with Parkade helping to generate $50,000 in short-term parking revenue in the first year, including a single $27,000 partnership with Netflix. Operationally, Parkade freed up staff time and created a streamlined system that scaled with the property's growing occupancy.

Greystar