As a property manager, there are a lot of things you will turn to when you feel you need to save money so your property is as profitable as possible. This is especially true if you own apartment buildings. Installing a new parking lot, complete with all the markings and features a parking lot should have, can be one of those investments that will save you money, even though it may not be the first thing you think about. Here is a look at how a parking lot installed by a commercial paving service can actually save you money.
Prevents having to repeatedly pay for new gravel
Graveled parking areas are fine for their purpose, but they require ongoing attention because gravel does not stay put. It gets carried off in car tires, kicked out of the area by animals and children, and otherwise taken away. Therefore, you will have to continually top off the gravel at the parking lot at an apartment building, especially if there is a lot of traffic in the area. Through the years, you can spend so much on gravel that it would make more sense to have a paved parking area installed in the beginning.
Avoids problems with arguments over who parks where
If a tenant does not have a designated place for parking their vehicle, it can quickly lead to issues between tenants about who gets to park in what area and why. It can be a lot harder for people to figure out who is supposed to park in what area if there are no markings in the parking area to guide them. If you have an asphalt paved parking area, it can be marked and lined professionally so it is clearer where people should park. This can save you money because you will not be spending your time dealing with squabbling apartment tenants and your time can be better utilized.
Prevents issues with parking area liabilities.
Even if a tenant is paying rent to live on the apartment property, you are still liable for things that go wrong on the property. For example, if a stray piece of gravel gets tossed up and breaks a car windshield, you could be held liable for the costs of repair. Parking areas with pavement that are well-maintained are far less likely to bring up liability concerns that cost you money as the property manager.