How to Manage a Portfolio of Parking Lot Properties

person preparing portfolio

When done properly, parking lot maintenance is easy and effective. Even with multiple properties in your portfolio, you can keep every parking lot you own attractive and free of hazards. Here are three ways to manage a portfolio of parking lot properties.

1. Prepare a Budget

The maintenance status of a parking lot depends on a few factors. Did you build the property and have taken care of it for its entirety? Or is it newly acquired and you’re unaware of what maintenance it may require? Preparing your budget for unforeseen costs sets you up for success should there be cracks to take care of.

Stay on top of your budget by consulting with a professional contractor who will let you know when signs of failure are beginning to show.

2. Engage with One Provider

The best way to maintain multiple properties is with consistency. Working with one company allows you to anticipate future costs based on past maintenance. This way you’ll be able to know what to expect, and budget for the future should you want to add any properties to your portfolio.

The added benefit of one provider is building a relationship with a trusted contracted who knows your individual needs.

3. Look to the Future

The most important part of keeping parking lots functional and aesthetic is maintenance. There will always be patches and cracks, but the real damage is sustained when these small issues go ignored. Talk to a professional contractor about the importance of annual crackfilling. This is when asphalt cracks are filled with crackfill to keep water out of the gravel below. Preventative measures such as crackfill will save your future budget from large gouges.

With a prepared budget, trusted contractor, and preventative maintenance you can feel confident in your parking lot portfolio. For fast, reliable service call us today!

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