WHAT'S IT COST TO RUN YOUR GARAGE?
This article provides criteria for determining the operating costs for different types of parking garages. The first step is determining how the garage is operated, in terms of the number of staff, insurance costs and cleaning. A hotel garage with valet parking will spend more than an office building garage with self-parking by monthly cardholders. Insurance costs for liability are also a function of how much valet there will be. Garages with transient clients will require more cleaning than those with monthly users because there are more vehicles coming in and out. Typical operating costs include staffing, which can account for 50 to 70 percent of overall expenses. These include cashiers, managers, maintenance workers, bookkeepers and security personnel. Facility maintenance can account for 10 to 20 percent of total expenses, and a maintenance reserve fund of $50 per space per year is recommended for periodic large-scale projects. Utilities can account for 10 to 15 percent of expenses. Other expenses, such as taxes, insurance, office supplies, marketing costs and postage can account for 8 to 12 percent. Financing costs are another element in some projects. The article provides a chart with sample operating expenses for cashiered facilities in Colorado, Arizona, Idaho and Oregon.
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Bricepac, Incorporated12228 Venice Boulevard, Suite 541, P.O. Box 66515
Los Angeles, CA United States 90066
- Inman, M
- Publication Date: 2005-5
- Features: Tables;
- Pagination: p. 30-32
- TRT Terms: Costs; Expenses; Parking garages
- Subject Areas: Administration and Management; Finance; Highways; Terminals and Facilities;
- Accession Number: 01001680
- Record Type: Publication
- Source Agency: UC Berkeley Transportation Library
- Files: BTRIS, TRIS, ATRI
- Created Date: Jul 7 2005 12:00AM