Without a doubt, there will come a time where you will need to deal with the depreciation of the appliances and systems that are inside your Tamarac rental property. As a property owner, it’s important to know what the life expectancy is for each of your rental property’s major interior elements and to have a plan in place to replace them when needed.
The question now is, what is the life expectancy of these interior items? According to HUD, the life expectancy for common interior items is highest with appliances, air conditioning units, and hot water heaters. For instance, an exceptional kitchen range ought to be useful and still in good condition for 20 years, whereas a refrigerator or microwave can be projected to last approximately ten years. Air conditioning units and hot water heaters equally have a life expectancy of around ten years, as do faucets and smoke detectors.
Interior items with shorter life expectancies include carpet, tile or vinyl flooring, and interior paint. Each of these usually lasts five years before they begin to look dilapidated. Blinds, window shades, and curtains, on the other hand, last as little as three years due to heavier wear and tear while being made of components that break more easily than most.
Being able to understand and acknowledge the life expectancy for each major item within your Tamarac rental property can help you to prepare better for foreseeable replacements sometime. Scheduling regular maintenance service and replacing parts in advance will help you budget wisely, thus protecting your investment and ensuring a regular cash flow.
For more information on replacement planning and how the property management services offered by Real Property Management Premier can help keep your property values high and tenants satisfied, contact us online or by calling us directly at 954-362-5235.
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