Income and operating costs of the special purpose property parking facilities

Henric Hahr

ERES from European Real Estate Society (ERES)

Abstract: The forecast of future income and operating costs as a result of the operation of the special purpose property parking facilities is a very complex and difficult task for investors, developers and operators to cope with. Whereas the determination of the influencing factors on the operating costs and their monetary extent is relatively uncomplicated, the estimation of the income is much more difficult. Contract parkers of parking space normally pay a monthly parking charge. In comparison to the income resulting from the use of a parking space by a short-term parker, the monthly rent is very low. Otherwise the decision of a short- term parker to frequent a parking facility is mostly earmarked and based on many different hard and soft facts. That means that the forecast of the income concerning the use by a short-term parker is fraught with risk. The outcome of this is uncertainty in the valuation of car park. The aim of the paper is, to present the influencing factors for the economic success or failure of the operation of the special purpose property parking facilities and the influence on the valuation.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2004-06-01
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