If you manage or own a property with asphalt driveways or parking lots, you’ve likely asked yourself this question:
Is maintaining them worth the cost and effort?
The simple answer: it’s absolutely worthwhile, especially if you operate in a region with freeze-thaw cycles. Let’s delve into why this is the case, and consider the cost comparison of regular maintenance versus a complete replacement.
The Importance of Asphalt Maintenance
Asphalt surfaces are a popular choice for many property managers and owners due to their durability and aesthetic appeal. However, like any other material exposed to the elements, asphalt requires regular maintenance to stay in good shape.
Here’s why:
Prevent Water Damage: In climates with freeze-thaw cycles, water is the biggest enemy of your asphalt surfaces. Cracks allow water to seep in, which then freezes and expands, causing the cracks to widen and the asphalt to deteriorate further. Regular maintenance, including repairing cracks and applying a rejuvenator, prevents water from penetrating the surface and causing extensive damage.
Extend Lifespan: Regular maintenance can significantly extend the lifespan of your driveways and parking lots. Well-maintained asphalt can last indefinitely, while neglected surfaces may need replacement after just 10-15 years. This longevity not only saves money in the long run but also reduces the frequency of having to deal with major repairs or replacements, which can disrupt tenants and customers.
Enhance Appearance: A well-maintained driveway or parking lot enhances the property’s curb appeal. Regular rejuvenation gives it a fresh, new look and provides a smoother surface that’s easier to clean and less likely to accumulate dirt and debris. This can be particularly important for attracting and retaining tenants and customers.
Safety and Liability: Maintaining a smooth and crack-free surface reduces the risk of trips and falls, which can lead to liability issues. Ensuring your property’s driveways and parking lots are in good condition demonstrates a commitment to safety and can help prevent costly legal issues.
Cost Comparison: Maintenance vs. Replacement
Let’s break down the costs to see the best financial decision.
Cost of Maintenance:
Crack Repair: Depending on the size and number of cracks, repairing them can cost between $0.50 to $3.00 per foot.
Rejuvenation: Applying a rejuvenator typically costs between $0.10 to $0.30 per square foot. For a larger area, such as a 10,000-square-foot parking lot, that’s around $1,000 to $3,000 every 3-5 years.
Assuming you spend about $1,000 on crack repairs and $2,000 on rejuvenation every five years, the total maintenance cost over 20 years would be roughly $12,000.
Cost of Replacement:
The cost to completely replace an asphalt driveway or parking lot averages between $4 to $10 per square foot. For a 10,000-square-foot area, that’s between $40,000 and $100,000.
Factoring in the need to replace a neglected surface every 15 years, you could face this expense multiple times over the lifespan of a well-maintained surface.
Even if you opt for the lower end of replacement costs, replacing a driveway or parking lot twice in 30 years (once every 15 years) would cost at least $80,000. Compare this to the $12,000 spent on regular maintenance, and the financial benefits of maintenance become clear.
Regular maintenance of your asphalt surfaces is far from a money grab—it’s a necessary investment that saves you money, time, and hassle in the long run. By taking care of your driveways and parking lots through routine repairs and rejuvenation, you prevent costly damages, extend the lifespan of your asphalt, and maintain the overall appearance and value of your property.
So, next time you consider skipping out on maintaining your asphalt, remember: a little investment now can save you a lot of money—and headaches—down the road. This proactive approach not only benefits the property and saves your wallet but also ensures the satisfaction and safety of those who visit your property.
