Buying and managing rental properties in Sunrise means long-term investment planning. As a responsible landlord, you will need to make sure that your newly acquired rental property will have regular upkeep and interior and exterior items will need to be repaired and replaced eventually.
Some of the items are inexpensive, but the rest, like those found mostly around the exterior of a rental home, can be expensive. Knowing the right place to start and being able to project these costs and include them in your overall property management plan can spell the difference between profit and loss as a Sunrise, property owner.
To do so, it is essential to know how long certain exterior items can be expected to last. Just the same way that carpet or interior paint has specific life expectancies, so too do exterior items. For instance, a properly maintained deck or patio will last between 15 and 20 years. But a deck that is not well kept may become a safety hazard in as little as ten years.
Garage doors, exterior doors, vinyl windows, fences, and asphalt or concrete driveways and walkways are other exterior items with solid life expectancies. Depending on the quality and climate conditions, a garage door can last anywhere from 15 to 20 years. This estimate also includes other exterior doors that are exposed to the elements.
Also, remember that materials play a significant role when it comes to the longevity of exterior items. Quality vinyl windows, for example, can last for up to 40 years, while cheap windows would probably need to be replaced in as little as 15. A quality cedar fence may last between 15 and 30 years, whilst pine fences will need to be replaced after five to twelve, and spruce fences in as little as four to seven.
Concrete and asphalt are best recognized for their durability, but in time they will also need to be repaired. This is of particular concern if you buy older properties. An asphalt driveway can last upward of 30 years if sealed and maintained correctly, and so should concrete. Along with the rest of the items, though, proper maintenance can save you money by extending its life expectancy.
When it comes to property values and curb appeal, it doesn’t pay to take chances with maintenance and replacement. Making sure that you have a strategy for the replacement of your Sunrise rental home’s exterior items can maintain your cash flow, keep your tenants happy, and help your rental property value increase year after year.
At Real Property Management Premier, we can help you create a property management plan that will ensure your real estate success for years to come. Contact us online or call us at 954-362-5235 for more information about our property management options in Sunrise and the surrounding areas.
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