Condo Carsharing

Real estate developers are finding new opportunities to capitalize on their condo development projects, building more units on less land, by incorporating carsharing into their ­building amenities.

Condominiums considering carsharing operations will find starting a service is no longer prohibitive and doesn’t require the involvement of mega corporations. Now it is cost-effective for developers and condo boards to successfully own and operate their own private carsharing businesses (or to partner with smaller independent operators), exclusively for their condo owners. That is because on-demand, self-service technology is readily available and designed to empower managers to start a carsharing service easier than previous offerings.

Condo developers have found themselves with an opportunity to provide a growing demographic, which has moved away from vehicle ownership, with a cost-effective mobility solution. This trend in condo development reduces the number of parking spaces by using carsharing, which also provides added value for condo owners as well as higher revenue and an increase in the number of buildable units for condo ­developers.

The opportunity is ripe for condo complexes to own or manage a fleet of carsharing vehicles with rental automation technology. The building owner can acquire carsharing technology and management automation software, complete with custom mobile apps for their customers. Then the building can operate a carsharing fleet uniquely for residents.