Adding a stucco finish to your Richmond rental property has both benefits and drawbacks. The same with all exterior siding options, there are plenty of good reasons to invest in stucco for a rental home; however, there may be certain downsides that make stucco a less tempting alternative. To understand whether stucco siding is right for your single-family rentals, it is important first to learn the basics of what stucco is along with how much a stucco finish will cost. This information can then help you make the best decision for your rental properties.
Popular throughout the American Southwest, stucco siding can be used in many climates and areas. This is for the reason that stucco is a cement-based plaster that is applied over a galvanized wire mesh called lathe, which helps the plaster adhere to the wall surface and adds strength. Stucco is usually applied in at least three coats, with the top or finish coat, including any color or special finishing techniques.
Even though the strength and durability of stucco are one of the biggest benefits, there are several other reasons why stucco might be the right choice for you.
- Stucco is tinted, not painted, which signifies that it can withstand fading for decades.
- Stucco can be textured for a unique and decorative look.
- With the correct maintenance, stucco can last a very long time, which means that you will not need to budget for its replacement anytime soon.
- Stucco gives excellent protection against inclement weather.
- The cost of stucco itself is relatively low when compared to other types of siding, making it an economical option.
Of course, along with the benefits that stucco has to offer, there are a few disadvantages too.
- Stucco requires professional installation, which can greatly increase the cost.
- Applying stucco can be a time-intensive project, with most professional stucco companies requiring several days to complete the job.
- Stucco can be damaged easily, requiring professional repairs.
One other concern is whether you can afford to depreciate the cost of your stucco finish over the span of several years. According to the IRS, a large improvement like adding stucco to your rental property’s exterior cannot be deducted as an expense but rather depreciated over time. This implies that you will be able to deduct the full cost of the stucco siding, but not all at once. This makes a careful assessment of your cash flows and tax situation an essential part of your decision-making process.
If you choose to go with stucco as the best option for your properties, the next step is to find a quality stucco company that will do the job correctly and at a reasonable price. It can be tough to find a trustworthy service provider without spending a lot of time on research, time that may be more worth spending on your other investing activities.
The good news is that Real Property Management Richmond Metro can help. Our Richmond property managers can offer suggestions and advice about exterior siding options, as well as recommend quality stucco professionals committed to producing the highest customer service. To learn more, contact us today.
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