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Creating rate structures is one of the trickiest parts of setting up a parking location – you have to really know the highs and lows of the traffic in your area, observe the behaviors of the locals and the regulars and create special rates for your corporate partners or tenants. Operators often revise their parking rate structures multiple times a year, which can be a little confusing for parkers too. Configuring and keeping track of rate structures is a lot easier with GMP’s parking rate engine which is a digitized, automated parking management system that helps you stay on top of things.

With Get My Parking’s solutions, you can launch touchless, cashless parking in your locations with a white-labeled app, automated gates, and a powerful admin tool to upgrade your back-end operations. Many of our customers have seen a visible increase in revenue after optimizing their rate structures using the tools in our admin portal.

Let’s take a look at how GMP’s parking rate engine can help you perfect your rates.

• A Dedicated Module for Parking Rates

There is a rate engine dedicated to configuring, testing, and storing rate structures in the admin portal available to our operators. This module has been designed after comprehensive research into how the global parking industry creates and calculates parking rates. Operators can use this module to create complex rate structures that will run seamlessly after the initial configuration.

• Special Day Rates

Set up special rates for any period that would see more parkers coming in – the weekends, public holidays, festivals, or game nights. The rate engine will automatically switch to the special rates for the specified time so you can earn more from rush hours!

• Early Day Rates

Set up special early bird rates for parkers who come in during the early, less busy times of the day. Offer parking at a discounted rate for those regulars who come in every day during the same time and make sure they keep coming back to your location!

• Corporate Rates

If you’ve partnered up with a local corporate office, you can set up corporate rates that make sure that their employees and guests are charged a special price for parking. You can set these up so that the rate engine switches automatically to a different rate for parkers from a specific user group.

• Keep your parkers informed

Make sure that your parkers know about your special rate hours! Configure in-app messages that alert your parkers when a special day tariff is kicking in.

• Set Maximas

Avoid overcharging by setting daily, weekly, and monthly maximum limits to how much a parker can be charged as parking fees. These maximums can be set for each rate structure as they’re being configured.

• Test your Rates Out

GMP’s parking rate engine lets you test the rate structures you create. Project how much parkers will be charged as their session progresses depending on the parking rules you have configured. This helps you make sure that you’ve configured the rates optimally.

• Import Rates

If you’ve already got rate structures that you’ve tried and tested for your parkers, you can import them into the rate engine. Just input the timings and rates into a CSV file according to the instructions given by the admin portal to upload and import the rate structure into the system.

The feature-packed rate engine is just one of the modules in our award-winning smart parking management platform that can digitize, streamline and optimize your operations to help you earn more!

Take a look at our complete suite of smart parking services designed to help operators go digital while taking it easy on their budgets. Schedule a demo today or contact us at sales@getmyparking.com to learn more about how we can help you get new customers and boost your revenue.