If you buy a commercial building with its own parking lot that you'll be responsible for, you may need to call an asphalt company shortly after you take possession of the property so they can repair and freshen the asphalt. You may want them to start with an inspection to make sure the lot has good drainage and that the base is still in good shape. Here are some maintenance and repairs the asphalt company might need to do. 

Apply A Sealcoat

If the previous owner kept up with repairs and the parking lot is just faded, then all that might be needed is to put on a new sealcoat. A sealcoat doesn't really make repairs; it's just a protective coating that protects the asphalt from rain and UV damage. This helps the asphalt last longer since sun exposure and water are two things that cause asphalt to deteriorate.

Apply An Overlay

If the lot has areas that need repairs and the cracks aren't too big, then an overlay might be in order. This is a new layer of asphalt that pours over the old asphalt to give your lot a new surface. Small cracks are filled in and repaired as the new asphalt goes down. This process could make the new lot higher and out of alignment with curbs, so the asphalt company may grind away a bit of the surface of the lot so that when the new overlay is added, the lot will still be the original height.

An overlay repairs minor damage and puts a dark surface on your lot so the lot looks new. The asphalt paving company may encourage you to sealcoat the new surface once the new asphalt has cured.

Install New Asphalt

If it turns out the driveway has drainage problems, or if the asphalt has a lot of potholes and crumbled areas, the asphalt company might recommend getting rid of the old asphalt, repairing the base, and then pouring new asphalt to make a new parking lot.

Installing new asphalt is a lot more work and it costs more, but it may be better for your property over time since a new lot should last for many years without much need for repairs. However, you'll still want to keep up with maintenance and sealcoating so the new lot lasts as long as possible.

The asphalt company can inspect your parking lot and let you know exactly what type of work it needs. They can also establish a maintenance schedule so your lot stays in good repair and reflects well on your company.