A recent survey uncovered value sitting dormant in most properties. Property management is very much a tangible business, where the physical asset is the product to be sold, leased, or held for its future value. In marketing any product or service, any premium that can be charged for, over and above its appraised value, is generally assigned to goodwill or what we prefer to refer to as brand premium: the intangible ‘feeling’ or impression that the evaluator has aggregated through their exposure, over time. Let’s take a closer look now at asphalt seal coating, as one of those contributors to a branding premium.

 

What do You See at Curb Side?

When someone views your property from the street, what do they notice first? Is the impression a positive one or a negative one? You’ll notice that your attention will naturally gravitate to what stands out – and since you are a property manager, this will be things that detract from the impression you are striving to provide.

 

Identify Brand Boosters!

The most obvious places to start are the facility’s exterior – paint or fixture improvements. Next you’ll notice landscaping or its absence. But for some reason, we miss the most impactful opportunity to shake up and refresh that exterior first impression: your access route or parking lot. Most of us take it for granted. We view it as a maintenance and repair budget item, versus the brand booster that it can be.

If you look closely, in most cases your parking lot will take up close to 50% of the visual message we see from curb side; but we just don’t see it for what it could be – a positive attention getter! Think of driving down your residential street and seeing one of your neighbours has just had his driveway done – it pops! The smooth black surface grabs your attention, and your impression of the property is enhanced. See for yourself.

 

Do the Math- It's a Budget Saver.

Most property enhancements are expensive. They are longer term budget allocations that are managed alongside those unexpected bigger ticket expenses caused by unforeseen weather or other uncontrollable events. Professional pavement solution providers advise that sealant applications every two to three years will reduce the lifetime cost of your exterior surfaces by about 50 per cent. After all, it protects it from the UV rays, moisture and chemicals that beat down on your lot everyday. And because it’s a small cash flow item, it’s painless – like putting a few dollars in a savings account every so often. Additionally, if the contractor offers warranty, it's risk free!

Why Not?

Now it’s time to challenge yourself to break through all of the reasons to put out a short Request For Quotation and to find a qualified pavement contractor for next Spring or Summer season’s budget. If you listen to the "if it ain’t broke, don’t fix it” rationale only, it might be easy to shelve the idea. But, when you combine the ROI prudency, low relative cost, and the brand booster effect, well you just can’t say no to that, can you?

 

Do your property and balance sheet a wise service, spruce up the holistic image of your business with asphalt seal coating!