Managing over 115,000 units and ranked #10 on NMHC’s Top-50 list for 2023, Avenue5 Residential relies on fluid operations and exceptional experiences to maintain resident satisfaction. For three Phoenix-area communities under Avenue5 management, Zark Parking Solutions emerged as a key contributor to reducing parking challenges.
Across multifamily, residents demonstrate a willingness to move to properties that offer reduced headaches. In addition, online reviews have become increasingly influential in prospective residents’ leasing decisions. In this environment, emphasis on retention and reputation is crucial. Failure to provide a smooth resident experience burdens owners and operators with unnecessary turnover expenses while creating operational challenges for onsite management teams.
“The majority of our properties’ negative online reviews had to do with the scarcity of parking,” said Kohl Eisenhour, executive vice president for Avenue5. “Resident experience and satisfaction are high priorities for us, and the parking situation wasn’t allowing us to meet the needs of our residents fully. These types of issues can give residents reason to move, and the associated negative reviews can deter potential residents, so we had been in search of a solution.”
An Avenue5 property boasted an abundance of parking spaces, yet they were predominantly concentrated at the rear of the property and lacked any form of covering. In contrast, the coveted carport spaces, which were in higher demand, were situated closer to the front and were limited in number. This configuration resulted in a congestion issue, with the onsite management consistently fielding complaints.
“The parking situation was a tale of two cities,” Eisenhour explained. “It was a large property with approximately 400 units. For the spaces at the back of the property, parking was less of a challenge. If you lived at the front of the property, parking was an issue.”
The remaining two properties also grappled with challenging parking scenarios. One property faced a less extensive issue, while the other endured a consistently tight parking situation across its entire premises. Both of these situations created inconveniences for residents and placed added stress on the onsite teams.
“When a resident comes in with a concern, our goal is to solve it quickly and efficiently, which is difficult when onsite associates feel like it’s not something they can fix,” Eisenhour said. “We empower our onsite teams to solve problems, and a majority of issues can be, but they can’t go out there and build new parking spots.”
The influx of complaints from existing residents spurred Avenue5 into action, prompting the company to seek solutions that could reverse the situation. The team recognized that one pivotal path to success lay in minimizing the inconveniences experienced by each of its properties.
“We aim to hit a home run with our residents on all fronts, and when there is a prevailing property challenge that we can’t solve through innovative best practices, we seek best-in-class suppliers to assist us,” Eisenhour continued. “The goodwill we receive from residents when we address their pain points is a win for our onsite team, our property reputation, and for the performance success of our properties.”
Avenue5 swiftly embraced the Zark Parking Solutions platform when Co-Founder and Chairman Daniel Efune introduced the solution to the company’s executives. Zark’s approach to simplicity stands out with no monthly fees and revenue share back to the properties.
What sets Zark apart is its commitment to enhancing the experience for residents without imposing mandatory fees for them to pay. Parking solutions that mandate monthly fees are often viewed by residents as a rent increase. With Zark, residents pay a daily parking fee when, and only when, they choose. This structure proves ideal for organizations seeking property improvements without straining their budgets or incurring any risk. Another tangible benefit of Zark is its seamless integration with property management systems, so associates never need to take time to make spaces available.
“The team enters their notices in the property management software when somebody moves out, which is a standard procedure and separate from Zark. It’s just what we have to do to manage buildings,” Eisenhour said. “That information goes automatically to the website, ILSs and updates Zark as well. The team doesn’t have to do anything above and beyond their regular responsibilities, leaving more time to care for our residents and nurture leads.”
When management does need to address parking issues, such as setting a violation or arranging for a tow truck, it’s much simpler to use the Zark app for this task. Zark not only avoids taking up time, but it also can give some back through its ability to automatically dispatch tow when required.
While each community was faced with unique challenges, Avenue5 was able to partner with Zark and implement a single platform that initiated some much-needed relief for all three.
The integration of the Zark platform yielded rapid and tangible benefits for Avenue5. In a remarkably brief span, the company witnessed a notable improvement in the overall satisfaction of its residents. While the ancillary income generated by Zark’s solution was appreciated, it was the profound impact on the properties that left the most significant impression.
“Within a few months of implementing Zark, the negative resident feedback for parking mostly disappeared,” Eisenhour added. “It definitely alleviated stress off the onsite teams, significantly reducing the time they had to devote to parking issues.”
As the platform’s cost and effectiveness became evident, Avenue5 made it a permanent fixture. Zark created happier residents, which then led to improved property sentiment and associate satisfaction, Eisenhour indicated. Avenue5 has been recognized as one of the fastest-growing companies in Washington by the Puget Sound Business Journal and for seven consecutive years it has been awarded an outstanding place to work, including recognition from Property Manager Insider.
“Parking is one of the top three resident issues at most properties, and Zark helps alleviate these challenges,” Eisenhour concluded, “Zark offers easy setup, easy ongoing parking management, and helps improve the experience for our onsite associates and residents alike. For us at Avenue5, that is a win.”