Learn all about reserve studies and planning your pavement budget.
As we enter the last few months of 2018, property managers and homeowners associations are beginning to plan for next year. A main aspect for planning for the year ahead is setting a budget, which means it’s time to decide what takes priority and deserves the most attention. A good way to make an educated decision is to schedule a reserve study to have a professional inspect your pavement and provide a financial analysis.
Planning Pavement Rehabilitation
As a property manager, you must decide how your money will be used in 2019. This means that you must prioritize the most crucial projects, such as sealcoating or resurfacing your parking lot, installing or maintaining retaining walls, and fixing sidewalks on your property. It can be difficult to decide which projects are more important than others, and which projects can wait another year or two. That is why property managers schedule reserve studies, as they provide an in-depth analysis of a property’s physical components, such as the parking lot, as well as an analysis of the financial obligations.
What A Reserve Study Includes
A reserve study is helpful for property managers to make well-informed choices when it comes to setting their budget. The study consists of two or three steps, including the physical analysis, possible maintenance suggestions, and the financial analysis. During the physical analysis, the reserve study specialist will inspect your pavement, often focusing on your parking lot and sidewalks, and asses the condition to give a better idea of what maintenance expenses will likely occur in the future. He or she will then provide life and valuation estimates for the pavement.
Next, a contractor such as PTG Enterprises can provide the community with a Survey Report with maintenance and repair suggestions for the parking lot and sidewalks and help you get a better idea of the repair and replacement needs of your pavement over the next five years, which in turn allows you to budget for pavement maintenance accurately.
Maintenance You Can Trust from PTG Enterprises
If you want to protect your pavement and ensure it has a long lifespan, choose PTG Enterprises for your community sidewalks, parking lots and pavement maintenance needs. We offer commercial concrete, asphalt, masonry, paving, consultation and survey report services throughout Baltimore, Harford, Anne Arundel, Howard, and P.G. Counties. If you are interested in hearing how we can help you, contact us online or give us a call at (410) 636-8777. For more tips and tricks, be sure to follow us on Facebook, Twitter, YouTube, LinkedIn, Google+, and Flickr.
Tags: Budget, My Pavement Guy, pavement, property manager, PTG Enterprises
