In the world of commercial real estate, square footage is money. But one of the most overlooked opportunities for revenue growth and efficiency often lies right beneath our feet—literally. Parking facilities are traditionally seen as a fixed cost, designed for peak usage and left idle during off-hours. But what if those underutilized spaces could work harder for your property?

Enter shared parking strategies.

Shared parking is a powerful model that allows multiple user groups—office tenants, retail patrons, residents, and even the general public—to access the same parking infrastructure at different times of day. By designing smarter access models and leveraging flexible technology, property owners can turn static parking assets into dynamic revenue generators.

The Problem with Single-Use Parking

Many properties today are still operating with outdated parking models that cater to a single tenant group. A garage in a commercial office building, for example, may be full from 9 to 5 and nearly empty after hours. Conversely, residential parking may sit half-full during the day when residents are at work.

This results in large swaths of square footage sitting idle, and draining potential value.

The Shared Parking Opportunity

Shared parking flips this model on its head. By making parking spaces available to different users based on demand windows, real estate owners and operators can:

• Boost utilization across dayparts
  
  
• Open new revenue streams from transient parkers or outside users
  
  
• Support retail tenants with more accessible visitor parking
  
  
• Enhance tenant experience by ensuring availability when it’s needed most

Key Enablers: Technology and Access Flexibility

To implement shared parking effectively, properties need more than good intentions. They need flexible, tech-enabled systems that allow them to:

• Control who has access, and when
  
  
• Set pricing rules based on time-of-day or user group
  
  
• Support multiple payment methods—from monthly permits to hourly payments
  
  
• Monitor usage in real-time and adjust policies as needed
  
  

This is where modern parking management platforms like Vend come into play. Our system is designed to give property owners granular control over access, pricing, and enforcement, so they can confidently implement shared strategies without friction or confusion.

Real-World Examples of Shared Parking Success

Here are a few scenarios where shared parking creates value:

• Office + Residential: A high-rise with daytime office tenants and nighttime residents allows the same set of spaces to serve both groups.
  
  
• Retail + Event Venues: A shopping center near a stadium opens its lots to event attendees after retail hours, at a premium.
  
  
• Mixed-Use Developments: Properties blend monthly tenants, hourly visitors, delivery vehicles, and valet services, each with different access rights and pricing models.
  
  

With the right configuration, shared parking doesn’t mean chaos—it means optimization.

Getting Started with a Shared Parking Strategy

If you’re exploring how to maximize underutilized parking assets, here are a few questions to ask:

• What are the current usage patterns across dayparts and tenant groups?
  
  
• Are there time windows when parking sits idle?
  
  
• Do you have technology that can support dynamic access and pricing?
  
  
• Could your surrounding area benefit from off-hours parking availability?
  
  

Shared parking strategies aren’t just a cost-saving measure—they’re a revenue opportunity. When paired with the right platform and operational approach, they unlock real estate value without building a single new structure.

Want to see how shared parking could work at your property?
Book a demo with our team to explore flexible parking strategies tailored to your asset mix.