Buying and managing rental properties in Cypress means long-term investment planning. You will have to maintain your new rental property and interior and exterior items will have to be repaired and replaced after a while.
A few of these things are actually inexpensive, but there are some, mainly those found around a rental home’s exterior, that can be considerably expensive. The key to stable success as a Cypress property owner is to foresee these expenses and add them to your overall property management plan.
To be able to execute this properly, it is vital to know how many years certain exterior items can be of use. In the same way that carpet or interior paint has its life expectancies, so do exterior items. For example, a patio or deck that has been maintained correctly will last between 15 and 20 years. On the contrary, a deck that was neglected wouldn’t last as long; it could 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. Garage doors can last– depending on quality and climate conditions– anywhere from 15 to 20 years. This is the same case for other exterior doors that are exposed to the elements.
Recognize that materials play an important role when talking about the longevity of exterior items. Quality vinyl windows, for instance, can last for up to 40 years, while if you have cheap windows, you may need to install new ones in as little as 15 years. A quality cedar fence may need to be changed between 15 and 30 years, whereas pine fences will need to be replaced after five to twelve, and spruce fences as soon as four to seven.
Concrete and asphalt are famous for their durability, but that doesn’t mean they wouldn’t need to be replaced eventually. This matters more if you buy older properties. An asphalt driveway can last upward of 30 years if sealed and maintained properly, and so should concrete. Just like anything else, proper maintenance can significantly increase the lifespan of a driveway or walkway.
On the issue of property values and curb appeal, nothing good comes from taking risks with maintenance and replacement. Planning for the replacement of the exterior items in your Cypress rental home can maintain your cash flow, keep your tenants happy, and help your rental property value increase year after year.
At Real Property Management Preferred, we can assist you in creating a property management plan that will make sure your real estate investment will be successful for years to come. If you want to know more about our property management options in Cypress and the surrounding areas, don’t hesitate to contact us online or call us at 281-894-9111.
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