Buying and managing rental properties in Sterling Heights implies long-term investment planning. Your brand new rental property will need to be maintained and the interior and exterior items will at some point in the future need to be repaired and replaced.
Some of these items are moderately inexpensive, but others, especially those encountered around the exterior of a rental home, can be expensive. The key to long term success as a Sterling Heights property owner means that you will need to learn to anticipate expenses and include them in your property management plan.
To manage this, you will need to know what the life span of all exterior items is. Similar to carpet and interior paint having specific life expectancies, so do exterior items. For example, a properly maintained deck or patio can last between 15 to 20 years. On the other hand, a deck that has been neglected can turn into a serious hazard within 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 approximation included other exterior doors that are being exposed to the outside elements.
Bear in mind that materials can create all the difference when it comes to the life span of these exterior items. High-end vinyl windows, for instance, can last for up to 40 years, while cheap windows more than likely will need to be repaired in just 15 years. A quality cedar fence can last around 15 and 30 years, while pine fences will need to be replaced after five to twelve, and spruce fences in as much as four to seven.
Concrete and asphalt are acknowledged for their durability, but even they will need to have some sort of maintenance. This is the main concern if you are planning on purchasing older properties. An asphalt or concrete driveway can last upward of 30 years if sealed and maintained properly. As with other items, proper maintenance can make all the difference in how long a driveway or walkway is going to last.
When it boils down to property values and curb appeal, it does not pay to skip out on maintenance and replacement of your rental property. Planning for replacements for your Sterling Heights rental home’s exterior items can maintain your cash flow, keep tenants happy, and help your rental property value increase year after year.
At Real Property Management Silverstone, we can aid you to generate a property management plan that will make sure your real estate triumphs for centuries to come. Contact us online or contact us at 586-992-6419 for more details about our property management options in Sterling Heights and the nearby regions.
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