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Budget Season: Are You Prepared?

Every year maintenance projects pile up. Most managers are tasked with securing the appropriate funding for future repairs with budgeting during the third quarter. Oftentimes the repairs exceed the dollars in the budget.

Knowing and understanding the conditions of your parking lot will make it easier to make decisions concerning how to best optimize the available funds. Many property and facility managers are given a multitude of properties to maintain and it can be difficult to visit each site each year. The best way to see if parking lot needs saving, is by contacting a reliable paving contractor to conduct an assessment. Parking lot maintenance and paving assessments will provide valuable information about the existing condition of your parking lot so you can proactively set up a maintenance plan.

These reports will help answer some questions to get you prepared for budget season.

 

Do we have the appropriate budget in place for parking lot maintenance?

Paving and maintenance assessments provide detailed pavement conditions to ensure that you are allocating funds in the proper areas. These reports will also provide insight to the budget needs beyond the present year, guiding you on future capital expenses.

 

Are we correctly prioritizing projects?

Assessments typically provide a rating scale that explains the condition and quality of the existing parking lot. Properties then can be compared and prioritized, to see which location requires repairs most and working within the budget.

 

Do we have an updated assessment?

Having updated assessments keep your data new, ultimately allowing for accurate budgeting in order to plan for ongoing parking lot maintenance.

 

Is the scope of work being performed right for us?

Assessments provide scopes of work along with suggestions based on your specifications and requirements. Remember, every site is not the same. Each property may require different parking lot maintenance and paving services. Assessments will recommend best materials, applications and processes that are best suited for each repair on site. The earlier in the year to execute the repairs to your pavement, the more money you will save. Knowing the costs will help with the funds later in the year that may become scant.

 

Are we comparing apples to apples with the received proposals?

When you receive proposals, you want to make sure that the scope of work is equivalent to one another. Every contractor scopes sites differently depending on their knowledge, the customer and other possible factors. Always keep in mind that the lowest quote isn’t always the best quote to choose.

As we move forward throughout the year, make sure that you are receiving the right information and assessments of your properties to ensure that you are taking the appropriate steps with maintenance planning and optimizing your budget. Partner with a contractor that you know and trust to help you answer the above questions, provide an assessment of your property and help you stay within in your budget.