Buying and managing rental properties in Rogers 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. The key to lasting success as a Rogers property owner is to forecast the costs and place them in your overall property management plan.
To be able to do this, it is necessary to know the lifespan of certain exterior items. It’s not different from carpet or interior paint, all of them have life expectancies. For example, a patio or deck that has been cared for will last between 15 and 20 years. Nevertheless, a neglected deck may need to be taken down and replaced 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 climate conditions and the quality of the garage door, it can last anywhere from 15 to 20 years. 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. Vinyl windows, for example, if they are of good quality, can last for up to 40 years, while you may need to replace cheap windows 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 rank high in durability, but they will still eventually need replacement. This would interest you more if you purchase 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.
On the topic of property values and curb appeal, taking chances with maintenance and replacement will do more harm than good. If you include, in your planning, the replacement of your Rogers rental home’s exterior items, you can maintain your cash flow, keep your tenants happy, and help your rental property value increase year after year.
At Real Property Management River Valley, we can help you formulate a property management plan that will set you up for success in your real estate investment. To know more about our property management options in Rogers and the surrounding areas, please contact us online or give us a ring at 479-242-0791.