Property managers have a difficult job. They have to deal with complaints from current tenants, find ways to attract new tenants, supervise a staff, deal with emergencies and schedule contractors. They are responsible for protecting the property’s physical assets, achieving the best return on the owner’s investment, and ensuring the safety and security of the property and the people who work or visit the site. With so much on their minds, it is understandable that they sometimes put parking lot maintenance on a back burner — until budget time rolls around. Determining the right amount to budget for pavement maintenance can be a difficult task, but the following tips can make your task easier.
Asphalt Maintenance Budget Tips | Property Management
What Are the Steps Involved With Budgeting for Parking Lot Maintenance?
For some line items, you probably rely on the previous year’s actual expenditures to estimate a budget for the coming year. However, asphalt maintenance is a little different.
1. To know what you will need to spend, you have to know what you have. Therefore, the first step is to conduct a visual inspection of your parking lot. Look for cracks and potholes; having these repaired should be your top priority. Breaks in your pavement give water an easy path to the supporting foundation, and foundation repair is more expensive than timely crack and pothole repairs. During your tour, you should also look at the color of your pavement and the condition of your markings. Make notes as you go.
2. Refer to your notes to work up a list of all the work you feel that you need. Group the work into categories. For example, add up the total linear feet of cracks that need to be repaired, the total number of small potholes, the total number of large potholes and so on.
3. If possible, look up the year that the pavement was installed as well as the last time it was sealed and striped.
4. If your pavement’s color has faded, you should budget for sealcoating. Sealants bring back the color, but they also do an outstanding job of protecting your pavement. Most sealcoating contractors in North Georgia recommend that you apply new sealant every two years. However, you may need sealcoating more frequently or less frequently. Keep in mind that reputable sealcoating contractors will want to repair any damaged areas prior to applying the sealant.
5. Parking lot striping and pavement markings are usually good for two or three years. If the paint has lost more than 25 percent of the visibility it had when new, you will need to budget for this procedure. If you are planning on sealcoating, the sealcoating should be done before the striping.
6. If your pavement is 12 to 15 years old, you should probably start thinking about having it resurfaced. Most paving companies can install an asphalt overlay for a lot less than they charge to rebuild the pavement. However, if the foundation has suffered widespread damage, an overlay may not be an option. Instead, you will need to have the existing pavement torn out, the foundation rebuilt, and new pavement installed.
If you need help customizing a pavement maintenance program, contact the experts at MH Greeson. We are a highly respected company serving Marietta, GA and the Atlanta metropolitan area and many other towns in North Georgia. Our services include sealcoating, asphalt crack repair, parking lot striping and pavement marking, asphalt patching, bollards, traffic signs, car stops and asphalt paving. We are known for our integrity, exceptional workmanship, affordable prices and outstanding customer service. If you would like a free quote, submit our online form or call us at 770-335-2983.
