Buying and managing rental properties in Washington means long-term investment planning. Your new rental property will need to be maintained, and interior and exterior items will eventually need to be repaired and replaced.
Some of the items are inexpensive but others, particularly those found around the exterior of a rental home, can be pricey. The secret to a lasting victory as a Washington property owner means understanding and projecting these expenses and counting them in your overall property management plan.
A great way to start doing so is to understand how long certain items can realistically last. Just like how carpet or interior paint has specific life expectancies, exterior items are also the same. For instance, if a deck or patio is being regularly maintained it can last for as long as 15 and 20 years. On the other hand, an ignored deck may turn out to be 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 evaluation also includes exterior doors that are exposed to the elements.
Keep in mind that materials can make a big difference when it comes to the longevity of exterior items. Quality vinyl windows, for example, can last for up to 40 years, while cheap windows may need to be changed in as little as 15. A quality cedar fence may last between 15 and 30 years, while 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 notorious for their durability; nevertheless, they will ultimately need to be repaired as well. This is of particular fear if you buy older properties. An asphalt driveway can last upward of 30 years if sealed and maintained properly, and so should concrete. As with other items, though, proper maintenance can make a vast difference in how long a driveway or walkway can last.
When it comes to property values and curb appeal, it doesn’t pay to take chances with maintenance and replacement. Preparing for the replacement of your Washington 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 Southern Utah, we can help you create a property management plan that will warrant your real estate success for years to come. Contact us online or call us at 435-673-4242 for more information about our property management options in Washington and the neighboring regions.