Case Study: Veris Residential achieves hands-off parking management and higher revenue with Parkade

Veris Residential cuts parking staff time by 90% with Parkade

Veris Residential, a property management company operating the BLVD 401 & 425 apartment buildings in Jersey City, faced significant operational challenges with its shared parking garage for 1,200 units. Their property management software could not track parking across both assets, forcing staff to manually manage all data in Excel spreadsheets. This inefficient process consumed 14-16 hours per week on tasks like guest parking bookings and enforcement, creating a major headache for the team.

The company implemented Parkade, a comprehensive parking management platform, to automate its processes. The solution integrated with their existing Yardi software and hardware, enabling true hands-off management. As a result, Veris Residential saw a 90% decrease in staff time spent on parking, reducing it to just 1.5 hours per week. Parkade also delivered a substantial financial impact, driving a 26% year-over-year lift in parking revenue and increasing monthly guest parking revenue from $250 to $4.9k.

Veris Residential