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Asphalt Paving Budget Tips for Property Managers

Managing a property isn’t easy. Lessees can be difficult, and the external and internal maintenance you have to keep up with seems never-ending. Whether the property you manage is large or small, several large repair projects likely pop up each year. It would be great if budgets were endless, money didn’t matter, and you could fix everything right away. Unfortunately, money is finite, budgeting does matter, and you have to prioritize projects. 

Use this guide to help you plan your next big asphalt paving project and stretch your budget as far as possible. 

The Benefits of Maintaining Your Asphalt Surface

Before diving into asphalt paving budget tips, it’s essential to understand why asphalt surface maintenance matters. With the right installation and maintenance, asphalt pavement can last between ten and twenty years. Keep up on yearly asphalt maintenance, and you’ll see benefits such as:

  • Extended life of the pavement
  • Reduced long-term repair costs
  • Steady level of curb appeal
  • Avoid safety hazards like potholes

Have you been skimping on yearly maintenance? Now is the time to get back into good property management habits. You can learn more about effectively caring for your asphalt from our summer pavement maintenance checklist.  

Preventative Maintenance

While there is a long list of preventative maintenance practices you can employ to keep your asphalt pavement in the best shape possible, there are three important tips you should always remember. 

  1. Clean Regularly: Clean your asphalt monthly. A simple sweep can do the trick. Pay attention to gas and oil stains and try to remove them right away. 
  2. Repair Potholes: Immediately repair pothole damage and pavement damage to protect the pavement and those who use it. Learn how to manage these damages
  3. Sealcoating: This process protects and prolongs the life of asphalt.

Budget Planning Tips for Asphalt Paving

When it comes to asphalt pavement, property managers usually want three things: 

  1. Maximum number of years out of the surface
  2. Preserve curb appeal
  3. Keep the pavement safe for all those who drive, walk, run, etc. on its surface

Proper pavement maintenance is an excellent way to achieve these objectives, but some asphalt may be too damaged for maintenance to do the trick. If your surfaces need repair or replacement and you’ve got a small budget to work with, keep these tips in mind:

  • Budget for the restoration of high-traffic areas roughly every ten years. Although asphalt can last up to twenty years, heavily used areas may only last ten to fifteen years. If you can work the cost of repairing these areas every ten years into your budget, it won’t be such a financial burden when the time comes. 
  • If you have a large parking lot, execute repairs in phases. You don’t have to do everything all at once. Not only is it more expensive that way, but it’s also significantly more inconvenient for those who use that surface daily. Save yourself and your residents or customers a headache and repair your surface in phases. 

Cost-Effective Asphalt Paving Tips: Repair vs. Replace

If price is a key consideration for this year’s pavement project’s scope, the first distinction you need to make is whether your pavement needs repairs or a full replacement. 

Although repairs will have a lower upfront cost, if your pavement is beyond repair and needs to be replaced, it is a waste of money to repair it. With a replacement, you won’t have to worry about repairing your asphalt surface for many years. Instead, you can save your money for other projects. 

Asphalt Repair Tips

Despite the best efforts to maintain it each year, pavement eventually falters, and repairs are necessary. Even if your budget is tight, there are affordable ways to repair damages. We have three budget-friendly asphalt repair recommendations.

Sealcoating

Apply a new sealcoating every two to three years. This is the lowest cost way to extend asphalt’s life. Sealcoating prevents oxidation, stops weather damage, and makes the pavement more attractive. Proper sealcoating requires a few extra considerations:

  • Apply it in two coats
  • The outside temperature must be at least 50 degrees for at least 24 hours
  • There shouldn’t be any rain in the forecast for 24 hours
  • Allow 24 hours for the second coat to dry before allowing traffic

Crack-Filling 

Filling a crack in the surface as soon as you notice it is imperative. A crack that is about a quarter-inch must be filled right away to ensure water doesn’t seep into the asphalt and damage the sub-base. If the sub-base is damaged, the entire surface will need to be replaced. 

Patching

Patching asphalt is an excellent solution for large swaths of a surface that need repairs. It can fill small cracks, divots, and potholes. As long as there is no deeper structural damage, patching can be the perfect solution for a rough asphalt surface.

Asphalt Replacement Tips 

There are many signs that asphalt needs to be replaced, like:

  • Cracks larger than a half-inch
  • It’s been more than twenty years since the last replacement
  • Alligator cracks
  • Sinkage

If your pavement is exhibiting any of these signs, it’s time to consider replacing it. Although the price of a new asphalt surface may be daunting, there is a way you can save money. 

Recycled Asphalt

If you need to replace your asphalt pavement, ask your contractor about recycled asphalt. Because asphalt is the most recycled material in the U.S., it’s cheap and accessible. Using recycled asphalt cuts the high costs of asphalt because the expensive processes are avoided. 

Select the Right Contractor 

If your rental management company needs to repair or replace a property’s pavement on a budget, use these tips to stretch your budget while still taking good care of your property and those who use it. 

To determine whether or not your asphalt surfaces need repair:

  1. Do a visual assessment.
  2. Make sure you select the right contractor for the job by asking several contractors for estimates.
  3. As you discuss estimates and options, make sure you mention that you’re on a tight budget, a quality contractor will be able to work with you on price or at least make cost-effective suggestions.

At Richfield Blacktop, we’re willing to work with you regardless of your budget. To request a quote, call our pavement professionals today, or visit our website.

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