Commercial property values can certainly rise or fall based on the look of the property itself. Your asphalt parking lot, especially if it's a large one, can play a large role in adding or subtracting from a valuation of the property. Here's why that can happen, and what you can do about it.
People Are Visually Oriented
When someone looks at a commercial property, they want to see something that pleases their eyes. At the very least, they don't want to see something that detracts from the overall property.
Your asphalt doesn't have to look like a majestic piece of artisanship. It just has to look clean and neat. That's enough to add to the overall look and feel of the property itself. It may not raise the value of the property by much, but it beats the alternative
The alternative is a cracked, stained, and crumbling parking lot. That will certainly lower the property value, and even turn potential investors or buyers away. A parking lot in disrepair represents potential hazards.
Your Asphalt Can Also Affect Profits
It's not just buyers and investors you have to worry about. When your parking lot looks shoddy, it reflects poorly on the property and any business it may take in. If potential customers or clients actively stay away, it won't look good to someone who may want to invest. A lack of business for your commercial property will also lower its valuation.
Fix the Problem Immediately
Now you know your asphalt matters, you can take steps to fix the problem. It's best if you maintain your asphalt from the beginning. But even if it's fallen into disrepair, there's a few things you can do to help it to help you.
- Clean your asphalt up – Start with the visible debris. Pick up any garbage on your asphalt, or pay a service to do it for you. You can make use of blowers, hoses, pressure washers, and anything else you can use to sweep it clean.
- Search for cracks and deterioration – All cracks and signs of deterioration you find will require patching.
- Clean up fuel and oil stains – If you have stains that have already set in over time, this process can take a little time. Rinse the area with a hose, then use soap and water on the stain. You can also use over the counter cleaning products for such stains. Just follow all directions closely.
Clean it all as best you can, or hire an asphalt paving and repair service to do it with more professional tools. When it's looking its best, it's time to have it sealed.
Asphalt sealing will freeze your parking lot in its clean condition, and keep away elements and other things that can further stain or damage it. In cases where your asphalt is too far gone, you should have a professional asphalt service either resurface or repave it, depending on how badly damaged it is.
Your asphalt is an investment that can actually pay off for you if you keep it in good condition. Even mediocre commercial property can look a whole lot better if it's surrounded by clean, well-kept asphalt. For more information, talk to a professional like AAA Paving and Sealing.