Costs of The Metered and Gated Parking System
Cost is one of the primary consideration of the people who do not know whether they are going to install the metered or gated parking system. Another thing that they will consider is the revenue generated. For the cost, some of the things that will be considered are the expenses of installation, maintenances, and operation. In this article, you will understand the cost information regarding the parking and metered gating system.
The gated parking system is more expensive compared with the metered system. The many things in the gated system such as gate, exit, and entry machine, pay station, a Server station is some of the things that make the gated system more expensive. The estimated initial cost of the gated parking is about 25% of the revenue generated in the first year of operation. If you need more income, then you must invest more in the equipment. You only require a meter for the other parking system. The capital cost of the metered system is estimated to be 12% of the revenue that you will get in the first year.
Installation is the additional cost that you will incur. Gated system is expensive to install than the meter. In the gated system, some of the things you will be required to deal with is planning for the exit, entry, queue, and the parking lot. Also, you will incur cost on the installation. Installation of the metered parking is very simple and can be executed within a day.
Whether you are considering the gated or the metered system, you should make sure that you maintain it so that it last for a long time. The way you maintain one system is different from the other one. The things to be considered in the gated parking are few. However, for the metered parking, some many things will be handled. This includes the transaction cost, technology support, software license, hosting services, meter warranty, and many others. Although the meter system has many things to be dealt with, its Maintenace cost is half of the cost of maintaining the gated system.
One more expense you will incur is the operating expenses. Metered system is self-service and therefore, you will not be required to hire an operator. You will only be needed someone when there is maintenance to be done. For the gated parking, it is more complicated to manage and therefore expensive. Since the meter system is self-service, to ensure that the people are honest, then you should enforce the parking rule. You shall be required to hire a person to do the enforcement. Beside, you will incur costs on the enforcement technology and car.