RunningWater
Member
Our building does not have owned spots - they are rented.
Looking at our parking fees, and am wondering if it's fair to base them on recovery of the related costs associated with parking? For example of the related expenses such as paving, garage maintenance, snow plowing, should we aim to recover 50%, 75%, 100% of the costs from parking fees? Or do you just look at the monthly market rates for parking in the area? If fees are too high, people might decide they would rather hoof it and we would lose revenue. Too low and non-parkers feel they are subsidising the parkers.
Clearly the driveway and parking lot doesn't just benefit the drivers, but it's hard to quantify what percentage. My gut feeling is that recovering around 2/3 to 3/4 of the costs from parkers is fair, assuming the price is still reasonable.
Looking at our parking fees, and am wondering if it's fair to base them on recovery of the related costs associated with parking? For example of the related expenses such as paving, garage maintenance, snow plowing, should we aim to recover 50%, 75%, 100% of the costs from parking fees? Or do you just look at the monthly market rates for parking in the area? If fees are too high, people might decide they would rather hoof it and we would lose revenue. Too low and non-parkers feel they are subsidising the parkers.
Clearly the driveway and parking lot doesn't just benefit the drivers, but it's hard to quantify what percentage. My gut feeling is that recovering around 2/3 to 3/4 of the costs from parkers is fair, assuming the price is still reasonable.
