Annual Budgeting Strategies for Paved Surfaces
By Sarah Gool, Business Development Manager at E. Meier Contracting
Even though 2024 is only about halfway over, the annual budgeting season is in full swing for 2025. Having worked through this process many times in my previous role as a property manager, here are my tips for successful budgeting in both HOA and commercial settings when it comes to pavement and flat surfaces.
Walk your property, and don’t forget to look down.
Because annual assessments typically start in mid-July, summer is the perfect time to schedule a property walk with owners or HOA board members. And when I say “walk,” I mean “walk!” Driving through the community or around the campus isn’t enough to spot potential issues that your budget should address. Look beneath your feet for cracks, potholes, and wear and tear on your flat surfaces. If you’re working with an HOA board or multi-family community responsible for driveways, inspecting how the driveways meet the garage can help you spot potential water issues for residents that can impact their homes.
Once you’ve done a complete walkthrough of the property, it’s a good idea to invite your paving partner to help spot potential problems. What may appear as an insignificant crack to the untrained eye can actually lead to larger issues later. Small fissures in asphalt and concrete surfaces can collect water, freezing in winter and creating potholes. Early intervention and a plan to address these concerns is critical to keeping your budget in line. At E. Meier, we often accompany our property manager partners and owners on walkthroughs to help them spot and fix issues proactively.
Regular pavement maintenance prevents bigger problems down the road.
As I mentioned, small cracks today can become big potholes after a few freeze-thaw cycles. Uneven pavement is more than an eyesore, it’s a safety issue. Cracks and potholes can cause vehicle damage or lead to trips and falls for pedestrians on sidewalks. Regular sealing and crack filling keeps your surfaces safe and also prolongs their lifespan — it’s a win-win for everyone involved.The benefits of prolonging the lifespan of your surfaces are obvious: spend a smaller amount regularly to avoid a huge expense all at once. An unexpected road or parking lot replacement can easily wipe your deferred maintenance savings. If you’re working with HOA boards, large expenses like these require community approval, which can be an arduous process that takes months. Regular maintenance of streets and driveways also signals community members that their HOA is putting dues to good use to keep the neighborhood safe and beautiful without tremendous disruption to daily life.
Budget for deferred maintenance.
While regular maintenance and repair allows you to get the most life out of your paved surfaces, unforeseen issues can still occur. I always advised my clients to set aside 10–25% of their total assessment for deferred maintenance, ensuring that they’d be financially set up to take care of emergencies or unexpected problems with their flat surfaces or any other property expense.
Conduct a reserve study every three to five years.
Reserve studies aren’t just a formality. They’re foundational to understanding the true state of your property or community, helping you allocate funds appropriately. The more thorough your reserve study partner, the better.
Choose the right contractor partners.
Being a great listener is one of the most important qualities in any contractor, but this is especially true when it comes to asphalt and concrete. Having been on the property management side of the relationship with E. Meier, I can confirm that our team does an outstanding job at listening to our customers and asking the right questions. We then follow that up with quality work done on time — the ideal combination for everyone including our property management partners, building owners, HOA boards, and residents or end users.
Proactive behaviors lead to better budgets.
When it comes to budgeting successfully, I can’t encourage you enough to adopt a proactive maintenance strategy. Regularly walk your properties, engage with us for early assessments, and plan your financial strategy well ahead of time. This not only ensures your pavements are in top condition but also positions your community for financial stability and reduced liabilities.
Annual budgeting doesn’t have to be a source of stress. With the right strategies, early planning, and a trusted partner like E. Meier, you can turn this annual task into an opportunity for enhancing your property’s value and end users’ satisfaction.
Let’s Talk
Are you working through your 2025 budget now? Connect with us at E. Meier. Let’s ensure your pavements—and your budget—are as solid and reliable as the ground beneath your feet.
About Sarah
Sarah Gool is in the second act of a long and successful career helping HOAs and commercial property owners maintain safe and beautiful communities and facilities. Prior to joining the E. Meier team in 2024, Sarah worked as a property manager for a well-respected firm here in St. Louis for many years. Connect with Sarah on LinkedIn here!