The year is quickly coming to an end. Now comes the time when businesses, communities, and homeowners associations begin to plan for the new year. And you know what that means, right? Budgetting! Yay! It is every decision maker’s favorite time of year. If you can’t tell, there was a bit of sarcasm in that last sentence. No one likes budgeting. How do you prioritize? What deserves attention now and what can be put off for another year? As we have said before, it’s a juggling act. Except there is one major difference between budgeting and actual juggling. When you are juggling and something goes wrong you simply bend over and pick the ball up off the floor. When you improperly budget for something like pavement maintenance, you face expensive repairs, exposure, and even liability.
The solution: schedule a Reserve Study.
Reserve Study: Planning Pavement Rehabilitation
Your annual budget dictates and prioritizes your spending for the coming year. How will your money be used? Do the parking lots need to be resurfaced or can that wait another year or two? What about seal coating? Then comes the sidewalks. Do they need immediate attention? What about the retaining walls? Which projects demand your attention this year and which projects can wait?
The only way to make an educated decision is to have a professional inspect your pavement and provide recommendations. This is the point of a reserve study: an in-depth analysis of a property’s or HOA’s physical components and an analysis of its financial obligations to preserve those components. In layman’s terms, a reserve study is like a roadmap that allows decision makers to make more well-informed choices.
A reserve study is threefold:
- Physical Analysis: Your contractor will inspect your pavement and assess the condition of your parking lots and sidewalks, providing life and valuation estimates.
- Maintenance Suggestions: Your contractor will make maintenance and repair suggestions.
- Financial Analysis: Your contractor will help you understand the repair and replacement needs of your parking lots and sidewalks over the next five years, allowing you to more accurately budget for pavement maintenance and repairs.
Schedule a Reserve Study with PTG Enterprises
PTG Enterprises has been in the asphalt paving, concrete, and masonry business for more than a decade. We have seen it all before and we know the telltale warning signs of asphalt and pavement failure. And as a member of the Community Association Institute (CAI), National Facilities Management and Technology (NFMT), and Maryland Multi-Housing Association (MMHA) we are well-positioned to help you make the right financial decisions for your property or community association.
PTG stands out as an industry leader due to our methodology of pavement management planning: a systematic, long-term approach to managing and extending the life of your pavement. We will work with you to develop a comprehensive strategy to extend and maximize the lifespan of your asphalt and concrete surfaces.
If you have any questions about a Reserve Study or Planning Pavement Rehabilitation, please contact PTG Enterprises today by calling 410-636-8777, or click here today! You can also check us out on Facebook and Twitter.
