Budgeting For Parking Lot Repairs

Encountering unexpected expenses, particularly significant ones, is not something most individuals enjoy. Businesses and government agencies dedicate a considerable amount of time to creating realistic budgets that provide as accurate a representation as possible of their revenue, expenditures, profit, or loss.

While it may be more cost-effective to rebuild an asphalt parking lot than a concrete one, it’s preferable to defer this expense for as long as possible. To avoid unpleasant surprises, it’s crucial to remain vigilant about parking lot repairs and maintenance. You may believe that forecasting the exact amount you should budget for these services is impossible. However, budgeting for parking lot repairs is easier than you think.

Where Should I Start With My Budget for Repairing and Maintaining My Parking Lot?

It’s important to familiarize yourself with your parking lot. Gather any documents that can provide information on when it was built, previous repairs, and maintenance. Take a walk around the lot and make notes of any issues you observe, and consider taking pictures. Pay attention to the pavement color, cracks, potholes, markings and signs, and any automotive fluids or debris stains. 

With this information, consult a trustworthy asphalt contractor to inspect your parking lot and suggest an appropriate plan. It’s beneficial to attend the inspection so that you can ask questions. To create an accurate budget, ask the contractor to recommend a schedule for crack and pothole repairs, sealcoating, pavement marking, parking lot cleaning, and asphalt resurfacing. The recommended schedules may vary, but several studies have provided average intervals for these procedures.

How Often Should I Repair Cracks and Potholes in My Asphalt Parking Lot?

It’s important to fix any cracks in your pavement that allow water to seep through, as soon as possible. For pavements that are over five years old, it’s recommended to ask your contractor to fill or seal these cracks every autumn and spring. Any potholes should be fixed immediately to avoid any harm to the pavement’s structure and to minimize your liability. To ensure the longevity of your pavement, it’s crucial that all necessary repairs are completed before sealcoating.

How Often Will My Parking Lot Need Sealcoating?

It is recommended to seal parking lots every two years, but the duration depends on the amount of traffic the lot receives. Sometimes, the sealcoating may last for three or more years, or certain areas may require annual touch-ups due to excessive wear and tear.

How Often Should I Stripe My Parking Lot?

After applying the sealant to your parking lot, the existing paint will be obliterated. This means that you will need to reapply new stripes and pavement markings. It is recommended to stripe and mark your parking lot once the paint has lost more than 25% of its original vibrancy. However, if the markings are damaged by snowplows, chemicals, or vehicles, it may be necessary to do it sooner. Generally, painted markings have a useful life of approximately two years.

How Often Should I Clean My Parking Lot?

We recommend scheduling a weekly sweep of your parking lot to keep it free of trash and debris. Additionally, it’s important to thoroughly clean any automotive fluids every six months. While it is possible to do this yourself, please keep in mind that it can be physically demanding.

How Often Should I Resurface My Parking Lot?

Did you know that resurfacing, which is also called installing an asphalt overlay, can provide you with the benefits of a new pavement at a much lower cost than a complete removal and replacement? This cost-effective solution is suitable for most parking lots, which typically require complete resurfacing every 12 to 15 years. However, if you have high-traffic areas with accelerated wear patterns, you may need a partial overlay every 10 years.

Royal Pavement Solutions Can Help You Care for Your Parking Lot

Our top priority is to help our customers extend the lifespan of their asphalt pavements and ensure that they remain in excellent condition.

Our comprehensive services include crack filling, sealcoating, pothole repairs, overlays, milling, and parking lot striping, as well as site work and concrete work. With our highly skilled and experienced team, we guarantee exceptional results on every project we undertake. To receive a free consultation and quote, please fill out our online form. If you prefer to speak with one of our knowledgeable and friendly team members, please call 844-777-7924.