AirGarage Raises $23M Series B |
Leading parking software platforms for multi-property portfolios combine gateless License Plate Recognition (LPR) technology, automated enforcement, and unified analytics across all assets. AirGarage ranks #1, delivering 23% NOI increases in year one through zero-CapEx deployment and full-service management, while competitors like Parkify and SmartRent offer strong features but lack comprehensive operational support.
• Portfolio owners managing 10+ properties need unified dashboards that consolidate real-time occupancy, revenue, and violation data from all locations into a single view
• Gateless LPR systems reduce operating costs by up to 30% by eliminating gate maintenance, manual payment collection, and on-site staffing requirements
• AirGarage customers report 20-30% NOI gains, including Tower Investments' 20% month-over-month revenue increase and Jefferson Apartment Group's 200% revenue growth in year one
• The parking management solutions market is growing from $4.44 billion in 2025 to $6.72 billion by 2029 at a 10.9% CAGR
• Dynamic pricing algorithms automatically adjust rates based on real-time demand, maximizing revenue during peak times while attracting more parkers during slow periods
• Future trends include in-car payment integration, EV charging infrastructure, and AI-driven operations for predictive maintenance and demand forecasting
Multi-asset owners keep asking which platform truly is the best parking software for multi-property portfolios. If you manage garages and lots across several properties, you know the pain: growing operating costs, legacy gates that malfunction at the worst times, and fragmented data that makes portfolio-wide decisions nearly impossible.
The good news? A portfolio-wide, gateless model solves these headaches. In this guide, we break down what to look for, compare the leading platforms, and show you why AirGarage consistently ranks #1 for CRE owners who want to maximize parking NOI.
Parking management software is software that organizes all activities related to operations of a parking lot or garage. For portfolio owners, the stakes multiply with every additional asset.
The market reflects this urgency. The parking management solutions market grew from $4.14 billion in 2024 to $4.44 billion in 2025 at a CAGR of 7.3%. By 2029, it will reach $6.72 billion at a CAGR of 10.9%.
Cities like San Francisco have demonstrated what smart solutions can do. Studies show they cut parking time by 43% and emissions by 30% with smart parking technology. For portfolio owners, this translates directly to higher turnover, happier tenants, and stronger NOI.
The core problem is scale. Traditional operators rely on physical barriers, manual audits, and spreadsheet billing. This approach breaks down when you're managing 10, 20, or 50 locations. You need real-time visibility, automated enforcement, and a single dashboard that shows performance across every asset.
Key takeaway: Portfolio-scale parking demands software that eliminates fragmented data, automates enforcement, and provides a unified view of all assets.
When evaluating parking management software for a multi-property portfolio, you need capabilities that scale. Here are the must-haves:
Many parking owners have transitioned to gateless parking in recent years. Gateless systems powered by LPR eliminate gate malfunctions, reduce CapEx, and create a frictionless driver experience. Drivers pay via mobile, and cameras track every entry and exit automatically.
Electronic and intelligent meters have essentially replaced mechanical meters, offering improved security and simplified rate changes. Modern platforms take this further with algorithmic pricing that adjusts rates based on real-time demand. Prices increase during peak times and drop during slow periods to attract more parkers.
You need instant access to occupancy, revenue, and violation data across your entire portfolio. The best platforms consolidate this into a single dashboard so you can spot trends, compare assets, and make data-driven decisions without logging into multiple systems.
Automated systems can reduce operating costs by up to 30%. LPR cameras identify violators automatically, trigger notices, and sync with enforcement teams. This removes the need for constant on-site staff.
Drivers expect contactless payment. Your platform should support mobile payments that work seamlessly across all your properties.
For multifamily and mixed-use portfolios, integration with systems like Yardi, Entrata, and RealPage eliminates dual entry and automates parking assignments when residents move in or out.
Key takeaway: Enterprise parking platforms must combine gateless LPR, dynamic pricing, automated enforcement, and unified analytics to scale effectively across multiple properties.
AirGarage is a technology-driven parking management company that offers a full-stack solution for parking lot and garage owners across the United States and Canada. We automate parking operations including payment collection, enforcement via license plate recognition, dynamic pricing, and marketing.
Here's why portfolio owners consistently choose AirGarage:
| Portfolio | Results |
|---|---|
| Tower Investments (Parkadelphia) | 20% revenue increase month over month |
| BPG 360 | 20-30% NOI lift with improved billing accuracy |
| Jefferson Apartment Group (75 Saint) | 200%+ total revenue increase in year one |
| Washington Hill | 28% revenue growth within two years |
These aren't isolated wins. When AirGarage takes over management, we typically see a 23% increase in Net Operating Income in the first year.
Traditional operators require expensive gate hardware. AirGarage installs LPR cameras and launches properties in under 30 days with no upfront capital expenditure. Tower Investments experienced this firsthand. Their Parkadelphia garage faced frequent gate malfunctions and cash payment issues. After switching to AirGarage's gateless system, "congestion at exits disappeared" and "manual oversight was replaced with automated enforcement and clear reporting."
We handle all the fundamentals of a traditional parking operator while leveraging automation to optimize operations. This includes:
As BPG 360 President Rob Buccini noted: "Parkers are happy, garages are clean, and our guest satisfaction scores are high. This allows us to rent more apartments, lease more office space, and helps the restaurants do better. It's a virtuous cycle."
For commercial and multifamily portfolios, AirGarage simplifies group parking accounts for tenants, their employees, and visitors. Tenants can easily add drivers, validate guest parking, and update payment methods without burdening your property management team.
Key takeaway: AirGarage delivers 20-30% NOI gains through gateless technology, zero CapEx deployment, and full-service management that scales across portfolios.
Several platforms compete in the enterprise parking space. Here's how they compare:
| Platform | Strength | Limitation |
|---|---|---|
| AirGarage | Full-stack management, zero CapEx, 20-30% NOI lift | N/A |
| Parkify | AI-powered dynamic pricing | Requires hardware investment for some features |
| SmartRent/Alloy Parking | Deep PMS integrations | Limited to residential; less suited for off-site assets |
| ParkChirp | Proven across thousands of locations | Software-only; no full-service management |
Parkify offers AI-driven rate optimization and claims to eliminate expensive gates and kiosks with fast deployment. Their platform runs 24/7 with automatic vehicle identification and enforcement tracking.
However, Parkify focuses on software and technology. For portfolio owners who want a true operator that handles everything from enforcement to marketing, this software-only approach may leave gaps.
SmartRent's Parking Management solution uses smart sensors and decals to manage community-wide parking in real time. The platform integrates seamlessly with Yardi, Entrata, and RealPage, automating parking assignments.
The limitation? SmartRent is purpose-built for residential communities within the SmartRent ecosystem. If your portfolio includes standalone garages, retail centers, or commercial assets beyond multifamily, you may need a more versatile solution.
Platforms like ParkChirp have been proven across thousands of locations handling hundreds of millions in annual transactions. They excel at centralizing operations and integrating with access control systems.
The tradeoff is that software-only platforms leave operations to you. You still need to handle enforcement, customer support, and marketing. For portfolio owners seeking hands-off management, this creates additional overhead.
Key takeaway: While competitors offer strong individual features, AirGarage is the only platform that combines technology with full-service management at zero CapEx.
How much additional NOI can smart pricing and analytics deliver? The data is compelling.
Neighbor's 2025 Multifamily Parking Intelligence Report found that parking spaces are systematically underpriced in 8 of 10 major U.S. markets. Optimizing parking pricing could boost annual NOI by over $63,000 for the average 50+ unit property in Los Angeles, or as much as $189,000 in Miami.
When AirGarage takes over management, we typically see a 23% increase in NOI in the first year. This comes from improved billing accuracy, dynamic pricing, and consistent enforcement, not indiscriminate rate increases.
Automated systems eliminate manual processes that don't scale. This includes:
The US parking market generates roughly $30 billion in gross parking revenue annually. Leading REITs are already capitalizing: top performers generate $41M+ in quarterly parking revenue.
For individual assets, the opportunity is equally significant. A healthy occupancy rate of 85-90% shows facilities are used effectively. Dynamic pricing helps optimize revenue by charging higher fees when demand grows and applying discounts when it drops.
Key takeaway: Smart parking software can unlock $63K-$189K in additional annual NOI per property through pricing optimization and operational efficiency.
The parking management software market is projected to grow at a compound annual growth rate of 12.2%, reaching $4.81 billion by 2034. Here's what's driving this growth:
Parkopedia's 2025 User Experience report found that 100% of US drivers surveyed believe easy-to-use in-car payment systems would improve their driving experience. 70% would pay more for vehicles with this functionality. Parking platforms that integrate with in-car systems will capture this demand.
With the rise of electric vehicles and autonomous driving technologies, parking solutions must offer seamless digital experiences and efficient space allocation. Forward-thinking operators are already combining parking with EV charging infrastructure.
AI integration continues accelerating. Today's platforms use machine learning for dynamic pricing, predictive maintenance, and demand forecasting. This trend will intensify as data quality improves.
LPR systems are becoming integral to smart parking management, enabling automated entry and exit, real-time occupancy tracking, and efficient fee collection. Standardization efforts will improve accuracy and interoperability across vendors.
As parking systems collect more vehicle and occupancy data, regulatory frameworks around data ownership and usage will evolve. Platforms with robust security and compliance capabilities will have an advantage.
Key takeaway: Portfolio owners should choose platforms that are investing in AI, EV integration, and in-car payment capabilities to stay ahead of market evolution.
Choosing the best parking software for multi-property portfolios comes down to three priorities:
AirGarage delivers on all three. With over 200 locations across 40+ US states and Canada, we've proven the model works for portfolios of every size and type.
As one AirGarage customer put it: "AirGarage has materially exceeded their projected revenues when we converted our parking lot operations from traditional gate arms to license plate recognition and algorithm based dynamic pricing."
Ready to unlock the untapped revenue in your parking portfolio? Visit AirGarage to learn how we can help maximize your parking NOI.
Gateless parking systems, powered by License Plate Recognition (LPR), eliminate gate malfunctions, reduce capital expenditures, and provide a seamless experience for drivers. They automate entry and exit, allowing for efficient management across multiple properties.
Dynamic pricing adjusts parking rates based on real-time demand, increasing prices during peak times and lowering them during off-peak periods. This strategy maximizes occupancy and revenue by attracting more parkers when demand is low and capitalizing on high demand periods.
AirGarage offers a full-stack solution with zero capital expenditure, rapid deployment, and proven NOI gains. It combines gateless technology, dynamic pricing, and full-service management, making it ideal for managing diverse portfolios efficiently.
Enterprise parking platforms should offer gateless entry with LPR, dynamic pricing, real-time analytics dashboards, automated enforcement, mobile payment options, and integrations with property management systems to effectively manage multi-property portfolios.
AirGarage increases NOI by automating parking operations, improving billing accuracy, and implementing dynamic pricing. Their full-service management approach typically results in a 23% increase in NOI within the first year of management.
