Don’t Ignore Parking Lot Repairs – It Costs More in the Long Run

Running a business in a weak economy is never fun. Sometimes you struggle just to keep the lights on. We get it. But knowing what we know about how everything from weather to traffic negatively impacts parking lots, we advise potential clients to not ignore their parking lot repairs. Doing so only costs more in the long run.

We get that business budgeting can be challenging. We understand that businesses do not always have as much money as they would want for capital improvements. Still, even basic parking lot maintenance and repairs go a long way toward saving companies money – by preventing serious damage that could require complete lot replacement.

When the Budget Is the Sticking Point

As a business owner, you know all too well that your cash isn’t unlimited. You only have a certain amount of financial resources you can dedicate to things like parking lot repairs. But again, not spending a small amount today could mean spending a ton down the road. It is generally more cost effective to budget a certain amount of money for maintaining and repairing your parking lot.

When a limited budget is the sticking point, business owners would do well to remember that a parking lot in poor condition is an eyesore, at the very least. It might also be a safety issue depending on how rough it is. A poorly maintained parking lot can even cost a business valuable customers who choose to go elsewhere. So now, in addition to having to spend more on parking lot repairs, a business needs to spend money finding new customers.

Procrastination Accomplishes Very Little

You may be tempted to look at minor issues in your parking lot and decide to put them off until the next quarter. Maybe you’ll put them off until next year. But it has been our experience that procrastination accomplishes very little other than short term savings. It certainly does nothing about those cracks and potholes in your parking lot.

Procrastination only allows the elements to continue damaging your parking lot. It only allows vehicles traveling through the lot to create further problems. A parking lot in need of repair is a lot like a burning building. The longer you let it go, the faster the damage occurs and the more intense it gets.

Tips for Creating a Parking Lot Budget

One of the best ways to see that your parking lot gets the attention it needs is to make sure that parking lot repairs are part of the annual budget. Our lack of knowledge about your company and property prevents us from suggesting a dollar amount you should budget. But we do have some suggestions:

â— Start with seal coating. Get a rough estimate on how much it would cost to seal coat your parking lot and budget that amount every year, at minimum.

â— Consider lot condition. Assess the current condition of your parking lot, accounting for the fact that more serious damage will require more costly repairs upfront.

â— Consider lot age. The age of your parking lot will also determine the type and scope of repairs necessary to bring it up to standard.

You may need to pay more than you have anticipated to get your parking lot back into good shape. But once all the repairs are done, budgeting enough to handle annual seal coating, minor repairs, and striping will give you the means to maintain the lot after that. Routine maintenance and parking lot repairs will ultimately lead to spending less over many years of operation.