Buying and managing rental properties in Leander means long-term investment planning. Your new rental property will have to be maintained and interior and exterior items will ultimately need to be repaired and replaced.
Some of these things are quite inexpensive, but others, especially those seen around the exterior of a rental home, can be pretty expensive. To achieve lasting success as a Leander property owner is to calculate the future costs and write them into your overall property management plan.
To accomplish this, you should know how long you can use some of the exterior items before they have to be replaced. It’s no different to how carpet or interior paint has certain life expectancies, exterior items have them too. To illustrate, a deck or patio that is maintained properly will last between 15 and 20 years. Yet a deck that was poorly maintained might become a safety hazard in as early 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. Garage doors can last anywhere from 15 to 20 years, depending on quality and climate conditions. The same can be said for other exterior doors that are exposed to the elements.
Bear in mind that materials play a part in determining the longevity of exterior items. For example, quality vinyl windows can last for up to 40 years, while cheap windows may need replacement in as little as 15. A quality cedar fence may be useful between 15 and 30 years, while pine fences will need to be replaced after five to twelve, and spruce fences as soon as four to seven.
Concrete and asphalt have very good durability, but they will ultimately need to be replaced. This would affect you more if you buy older properties. An asphalt driveway can last upward of 30 years if sealed and maintained properly, and so should concrete. Similar to other things, a driveway or walkway will have a significantly longer lifespan if it receives proper maintenance.
When looking into property values and curb appeal, no benefit comes from skipping proper maintenance and replacement duties. Including the replacement of your Leander rental home’s exterior items in your plans can maintain your cash flow, keep your tenants happy, and help your rental property value increase year after year.
At Real Property Management Advisors, we can guide you in making a property management plan that will guarantee long-term success for your real estate investment. Please contact us online or call us at 512-777-2597 to learn more about our property management options in Leander and the surrounding areas.
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