Repairs are an important maintenance practice for any asphalt surface that you have as a property owner. In fact, this is especially more crucial for commercial property owners who welcome customers on a daily basis. Similar to a residential driveway, a well-maintained parking lot attracts more potential customers and leaves a nice and long-lasting impression, or it could also be a bad one if you have left your parking lot in disrepair for quite a long time.
We often advise property owners to perform a monthly check up of their asphalt parking lots or their driveways, this is to help prevent further damage caused by small cracks and holes that could worsen over time. The thing is, it is much better to repair it sooner rather than later because repairs that have been put off will be more expensive over time.
Now, if after careful evaluation of your property, you have decided that your parking lot is indeed in need of repair, your next question probably is, “How much would it cost me?” To help you plan and manage your costs, we have prepared a guide to help you get an idea of your would-be expenses.
Patching Cracks and Holes
According to a report from ProMatcher, the average amount that property owners are paying for an asphalt repair of their parking lot ranges from $2.21 – $3.35 per square foot and take note, this is only for a patching repair service, but depending on the severity of the cracking, you can expect to pay at least $100 – $300.
The good thing about repairing an asphalt pavement is that you can actually do it yourself if the fissures on your asphalt surface are not that serious or if they’re not wider than ¼ inch and can be easily filled with a bag of solution that you can purchase from any local hardware store for a price of $20 – $40.
Asphalt resurfacing or “overlay” is meant for asphalt pavements that are still structurally sound despite being filled with alligator cracks and potholes on the surface. The critical element of any asphalt pavement is in its base. Hence, we advise that you let an expert examine your property and check for any base failure before proceeding to resurface. If the contractor has detected a fracture or damage in your parking lot’s foundation, in this case the best option would be to have it fully replaced. Otherwise, resurfacing would make sense since you can still prolong the life of your parking lot just by simply removing the damaged top layer of the asphalt and resurface a new coat without changing the original base. As per HomeAdvisor, the parking lot resurfacing cost is around $2 – $2.50 per square foot.
We highly suggest that you consult a contractor to handle this issue because they will have a more accurate diagnosis of the current condition of your base.
Replacement is necessary for pavements that has a total base failure, improper drainage system, too old or has exceeded the 25-year mark or is badly deteriorated. Sometimes, a full replacement makes a much more sensible choice than attempting to fix all your pavement issues. A complete replacement will solve all underlying issues and give your parking lot a fresh new start.
Replacing your asphalt parking lot includes redoing the whole foundation gravel along with a new asphalt surface free from cracks and potholes. The average estimated cost for a full replacement ranges from $2 – $5 per square foot. Now, you can expect your newly paved parking lot to last you for 25 more years if you follow the best maintenance practices, and given that you have chosen a reliable and experienced contractor.
For a free estimate of a parking lot repair cost in Richmond from a trust-worthy and professional contractor, look for Richmond VA Paving and book a call with them.
As for other paving contractors who provide quality and top-notch service to all their clients looking to scale their client base, consult with an asphalt paving marketing professional and double your sales.