Things to Consider when Budgeting for Asphalt Pavement in 2020

One of the first things people notice about your brick-and-mortar business location is how well-maintained it is from the outside. Generally speaking, if a building or asphalt parking lot looks completely dilapidated or out of date, most people tend to be put off by its appearance and might choose to take their business elsewhere. This is unfortunate because the external appearance of your business could actually be driving customers away! But for a lot of business owners the cost of replacing, repairing, and maintaining an asphalt parking lot can be excessive. To help you stay on track in 2020, here are some useful asphalt pavement budgeting tips.

Ways to Maintain Your Asphalt Parking Lot

Perform Routine Maintenance

Routine asphalt parking lot maintenance means so much more than simply patching up minor cracks and damages. It also entails doing a full sweep of your asphalt parking lot at least once a month to ensure that every aspect of it from the water drainage system to the line markings are up to code. 

Performing routine maintenance checks can help you stay on top of all the necessary components of running a commercial property. 

Enforce Standard Safety Measures

Taking the time to examine your asphalt pavement for damages and other signs of hazards affords you the opportunity to spot potential problem areas early on. The sooner you notice certain problem areas like dips and depressions or cracks, the sooner you can fix them before they turn into much more serious and cost-prohibitive issues. 

Certain structural issues like a weak foundation due to poor construction often manifest themselves in the form of cracks, potholes, and depressions—all of which pose potential safety issues for anyone who uses your asphalt parking lot. Legally, you’re liable for the safety and security of everyone who uses your asphalt parking lot. Neglecting to maintain the highest safety standards on your asphalt pavement could open you up to a number of legal issues. 

Boost Aesthetic Appeal

In business, first impressions hold a lot of weight. And when people walk onto your property for the first time, you want them to be impressed with how clean and well-kept it is. The harder you work to maintain your property, the easier it’ll be to impress your customers and showcase a sense of pride in your business. And it also doesn’t hurt that a well-maintained parking lot can also help increase the curb appeal of your business.

Extend the Pavement Lifespan

Making minor repairs as needed throughout your property and taking extra measures to protect your asphalt from the elements and prevent damages can help substantially extend its overall lifespan. Even simply filling in a few small cracks here and there can help you save a lot of money on repair and maintenance costs in the future because those tiny cracks can quickly transition into potholes over time, especially if your parking lot gets a lot of foot and vehicular traffic. 

The more effort you put into preserving your asphalt’s structural and aesthetic integrity from the beginning, the more money you can save in the long run. Sealcoating your asphalt parking lot every two to three years enables you to extend the lifespan of your asphalt pavement to at least 20-30 years. 

Factors That Impact Your Asphalt Pavement Maintenance Budget

Your asphalt pavement parking lot is a major investment for your business. After all, the condition of it can greatly impact people’s perceptions of your business. When people walk or drive past a parking lot that’s littered with debris, cracks, and large potholes, it gives the impression that the property and business owners simply don’t care enough to make the necessary repairs. 

A sloppy external appearance isn’t just off-putting for potential customers, it reflects poorly on the state of your business by making people think one of two things:

• You either don’t have the budget to make the necessary repairs and upkeep the property
• Or you just don’t care enough about your business to bother investing the time, money, and resources into maintaining its appearance.

With that in mind, here are a few important factors you should consider when it comes to creating a comprehensive asphalt pavement budget.

Minor Repairs That Add Up

Minor repairs have minimal upfront costs. But the more repairs your asphalt pavement needs, the more those costs can quickly add up. Whether we’re talking about small cracks, potholes, oil spills, or repainting line markings, minor repairs over the years are inevitable. Setting aside some rainy day funds for when you need to apply these repairs is a smart idea so that you won’t be left in a lurch when cracks need to be patched up. 

How Much Traffic Your Parking Lot Gets

On average, how much traffic would you estimate that your parking lot gets? And what type of vehicles used your parking lot most frequently? This is important information to have when budgeting for an asphalt pavement or hiring pavement services. Over time, parking lots that are exposed to heavy amounts of traffic particularly from large vehicles like vans, trucks, and delivery vehicles can start to exhibit certain structural issues. The weight and pressure from these vehicles causes their tires to create a lot of friction on your asphalt parking lot, which can lead to skid marks and other damages. 

These are damage and repair costs you must account for when creating a budget for your asphalt parking lot. 

Age of Your Asphalt Pavement

It’s also important to consider the age of your asphalt pavement. With proper care and maintenance, many asphalt pavements can last anywhere between 15 and 30 years. But even the most well-maintained older parking lots may still require either partial or complete overlay replacements over time. As your asphalt continues to age, the structural integrity can become compromised due to a number of factors, many of which are beyond your control.

Sometimes, it just makes more sense to remove and replace the asphalt than simply patch it up. On the plus side, most pavement services will recycle your existing asphalt to create a new and improved aggregate.

Time and Resources for Sealcoating

Sealcoating is a standard component of proper asphalt maintenance and should be performed on a regular basis, so always be sure to put aside some money for it.  

Sure-Seal Pavement Maintenance Inc. is a renowned asphalt pavement installation, repair, and maintenance provider in Toronto and the GTA. Collectively, our crew has over 20 years of experience working in the asphalt industry and we stand by our work. Contact us today to learn more about our pavement services.