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5 Tips for Budgeting for Parking Lot Maintenance

5 Tips for Budgeting for Parking Lot Maintenance

A neglected parking lot is a bad look for the owner and the commercial building associated with the lot. When property owners plan to perform maintenance on their commercial property, they can’t forget about the parking lots and, more importantly, their budgets. Check out these five tips for budgeting for parking lot maintenance.

Establish a Program

Parking lots can have a long life if you enroll them in the right maintenance program. A maintenance program ensures the longevity of your lot and supports you financially. An effective program defines a spending strategy that allows you to maintain the lot while remaining mindful of future capital spending.

Make sure you work with the right strategic partner. There is a range of providers on the market. Compile a list of at least six locations near you before narrowing the list down to the top three according to your most important criteria. Base your final decision on cost, repairs, experience, and references.

Base Your Budget on Lot Needs

Adjust your budget to the needs of the lot. Every lot comes with its own characteristics. You want to make sure you’re giving yours the correct care it needs. The amount of money you need to spend on parking lot maintenance depends on the lot’s specific characteristics. Consider:

  • The age of the lot
  • The current condition of the asphalt
  • The asphalt drainage
  • Any future enhancements you want to make

All these factors will determine how much money you need to set aside for maintenance and which tasks to prioritize.

Don’t Procrastinate

Don’t let problems fester. When you start to notice shifts in the asphalt, potholes, cracks, and divots, it’s time to take action. Have your maintenance crew come out immediately to solve the problems.

Even if you don’t see major issues with the lot, you should still schedule regular maintenance. Professionals can tell you where there are potential problems on your lot. They’ll provide you with solutions that suit the size of the issue today so that you can avoid paying a big fee for a more significant issue later. That said, you should start to save for those future maintenance jobs as soon as they notify you if you do not intend to take action today.

Handle the Small Jobs

A quick fix for the cracks can hold you over for the bigger maintenance jobs. Routinely address the cracks in the pavement before they have a chance to expand.

All you need to do is clean and dry the crack with compressed air, then seal it off with a hot-applied rubberized sealant. If some cracks seem too big, find a professional to handle the job.

Consider Long-Term Repairs

Long-term repairs may sound expensive, but you should think about the money you’ll save in the long run. Handling the big repairs now, even if that means reconstructing a portion of the lot, can be cheaper than doing small repairs here and there.

If you’re facing a significant issue on your lot, look to us. Here at Precise Property Maintenance, we do more than professional parking lot striping in Arlington, TX—we do it all!

Budget for your parking lot maintenance and keep things looking pristine. For more information about our services and proper parking lot care, visit our website.