As apartment owners, you may not have repaving your parking lot at the top of your to-do list. At Cassidy Paving, we get it. There’s not much fun in having a large repaving project while trying to keep tenants happy. It can be a disruptive process. However, there are many reasons an asphalt pavement improvement project should be taken seriously. We want to make sure that you, as apartment managers/owners, have the best chance at attracting, retaining, and pleasing your tenants for years to come. If you’re looking to upgrade your lot in any area across Massachusetts, Cassidy Paving is here to help.
Lower Your Liability Threats
A broken, cracked, and uneven parking lot can pose some issues when it comes to the safety of your tenants. Even Patch.com says that “potholes, cracks, and uneven pavement can damage cars and cause tripping accidents”. If you’re looking to create the safest space for your tenants, starting in the parking lot is the way to go. This can save you big time on repair costs for damage to vehicles or even court costs if things take a turn for the worse in a slip and fall. Protect your budget by investing a bit in a smooth and safe parking lot.
Attract and Keep Tenants
Your renters deserve to have a home they are proud of. As an owner you also deserve to have a property that you are excited to show and tell people about. First impressions often come from the exterior at first glance. Potential renters will assume that the parking lot is a prime indication of how well the apartments are maintained and the level of care with which the management applies to the property as a whole.
One way to keep money coming in from long-time tenants is to keep the property up by fixing and/or repaving the parking lot. You will also attract people to your property when you take the time to invest in the impression you’re giving. The more units you can occupy, the more cash flow you will potentially have. The best way to secure this is to invest in a brand new asphalt parking lot. Because you most likely already have a fund for repairs and property improvements, funding a paving project can go a long way in providing a sound investment that keeps and attracts tenants.
READ MORE: Increase Your Property’s Value With Paving
Increase Property Value
One really awesome way to return the investment in your new asphalt lot will come in increased property values. According to Consumer Report, enhancing the exterior of your property can provide you with a potential return of up to 5%. With asphalt pavement costing between $2 and $5 per square foot, a 5% return on investment will make a big difference in your property value.
Hire the Best
Your apartment complex needs an expert touch. Cassidy Paving is locally owned and operated and we are certified to bring you the best in asphalt paving and repairs. If you’re in the New England area we would love to hear from you. We always offer free estimates and even provide a warranty on all new full-depth work. It’s time to give your apartment parking lot the attention it deserves to bring in the quality tenants that you deserve.