How to budget for your parking lot updates in 2019

Parking lot management may not be too involved, but smart owners create a strategic plan for preventative maintenance and upkeep at the start of every year. If you want to take a proactive approach to your parking lot budget, consider these tips when determining your budget for parking lot updates in 2019. Utilizing a trusted partner in this process can cut down the time commitment on your part, and leave you with the bandwidth to concentrate on the immediate needs of your business.

Where is your pavement in the useful life cycle?

Pavement does not last forever and requires regular upkeep and maintenance. Whether your parking lot is need of sealing, patching, or it’s time for replacement, it’s important to approach this upkeep in a proactive manner. In addition to having an adequate amount of funds available, it is also important to remain proactive in order to minimize disruption to your cash flow as repairs and maintenance are conducted. Undergoing an inspection is an effective way to determine the most impactful update projects while scheduling them when the downtime will cause the least possible impact on your cash flow.

Is preventative maintenance and upkeep a part of your 2019 budget? It should be.

The physical condition of your parking lot is the foundation of your business, and including the upkeep of your lot in your 2019 budget is essential. In addition to regular maintenance it is key to have reserves in place should the need for a major refurbishment or repair arise. Without a proper budget, you may be left scrambling in the event of an unseen event or emergency. Don’t let this happen to you! Proper maintenance and regular updates can prevent future issues that grow more expensive with neglect. By adding such line items to your 2019 budget you will be ahead of the curve and in a much stronger position if an unexpected repair need arises at your parking lot.

Determine your top 3 goals or “must-dos” to increase your customers’ parking experience in 2019

The start of 2019 is a perfect time to review your goals for the year and put them into action. Whether it is reconfiguring the lot to maximize space, or updating payment options for your customers, this is the right time to put those plans in place. When you budget and plan for future improvements your parking lot is much less likely to experience downturns and dips in revenue caused by being off-line. Tackling these top 3 goals for 2019 with a schedule that includes a budget for the necessary funds can help you to avoid damage and repair in the future.

Create ongoing relationships with a trusted partner in order to maximize results

The day-to-day running and management of your parking lot holdings can take up a lot of your time, and bringing in a trusted partner can yield positive results. With the right partner, you can focus on the business aspects of your parking lot and leave the budgeting and planning to a specialist. Thinking that you don’t have enough time to properly plan and budget for updates to your lot can lead to a lot of avoidable trouble down the road.

Make 2019 the year that you implement proper budgeting and maintenance plans for your parking lot. Proper maintenance, repair, and updates can help you to maximize profits while minimizing downtime and unexpected expenses!

3 Winter Repairs You Should Be Making

Improving the lot around your business is important for economic growth. A number of things can go wrong in the winter with all the ice, snow, and rain, and there are repairs that businesses should be making to their lot. This will help prevent flooding and damage to the property, as well as increase customer safety.

Pothole Repair

Pothole repair is needed because it helps with improved curb appeal. If the parking lot is well maintained, it can convey to customers that you are a responsible business owner and value customer safety. Repairing potholes also saves money, since potholes that go unrepaired pose a risk for future damage that can be more expensive. Pothole repair is important for the safety of your customers and employees and can be a trip hazard for pedestrians. Businesses will be held liable for these injuries. Pothole repair can be difficult in the winter, but temporary repairs need to be made in order to ensure that drivers can get safely to the business. For temporary repairs, a cold mix asphalt should be used. This mix works especially well if the temperature is below the recommended level and it’s an emergency. All ice, moisture, and debris should be removed from the area before beginning the repair.

Catch Basin Repair

Catch basins and storm drains play an important role, especially in the winter with all the run off. Catch basins will catch and prevent contaminants from entering the drainage system. Without them, debris could enter the system and clog it, which will lead to some serious flooding and a negative effect on the property. If water pools in the lot, then the pooling on the asphalt can lead to the deterioration of the pavement. When water enters the joints it can cause the mortar to pop out and repairs are needed. Sometimes even cracks appear near the perimeter to allow more water to get in. Depending on the damages, repairs can extend from patching up asphalt around the perimeter to a complete structure repair.

Cracksealing

Winter is the perfect time for cracksealing because pavement expands and contracts with seasonal temperature changes. This means that joints and cracks are expanding when the pavement moves. Cracksealing is preventative winter road maintenance that is meant to extend the life of the pavement. It’s important to seal up cracks because cracks can allow for water and other materials, such as dirt, debris, and sand, to get into the pavement structure. These cracks will then accelerate the weakening and deterioration of the payment. With the proper seal cracking, and when properly executed, it can help extend the life of the payment from six months to four years. Before beginning any cracksealing, the area should be clear of any moisture, debris, vegetation, or dirt, in order for it to be the most effective. If using heat, be careful not the scorch the pavement and note that the sealant needs to be placed in the pavement before the crack cools to allow for it to adhere best. The entire crack should be filled and then leveled to make sure that the payment remains smooth. It’s important that any repair material or sealant is only applied only within the manufacturer’s recommended application temperature, otherwise it won’t work. More sealant isn’t always better. Too much can lead to problems when paving over. Cracksealing is important because it can buy time and help save money by delaying the expense of other major reconstructive work.