Buying and managing rental properties in Hanover County indicates long-term investment planning. Your newest rental property will require to be maintained and interior and exterior items will have to be, after a while, repaired and replaced.
A lot of these items are rather inexpensive, but others, especially those located around the exterior of a rental home can be significantly expensive. Fundamental to long-term success as a Hanover County property mean anticipating these expenses and integrating them in your overall property management plan.
To execute this, it is necessary to know how long certain exterior items can be expected to last. Just like how carpet and interior paint has a life expectancy so do exterior items.. Take as an example, a well-maintained deck or patio will survive over a period of 15 and 20 years. But, a deck that is neglected maybe a safety hazard within ten years.
Garage doors, exterior doors, vinyl windows, fences, and asphalt or concrete driveways and walkways are various outdoor things with stable life cycles. Depending on the type and climate conditions, a garage door can last anywhere from 15 to 20 years. This figure also involves other exterior doors that are unprotected from the ever-changing weather conditions.
Keep in mind that materials can make a big difference when it comes to the longevity of exterior items. Superior vinyl windows, for instance, can last up to 40 years, while cheap windows may have to be changed in as little as 15. A high-end cedar fence may have a span of 15 and 30 years, while pine fences will have to be repaired after five to twelve, and spruce fences not more than four to seven.
Concrete and asphalt are known for their longevity, but they will, in the end, need to be repaired. This is something to consider when buying older properties. An asphalt or concrete driveway can endure upward of 30 years if sealed and taken cared of correctly. As with other items, however, proper maintenance can make a big difference in how long a driveway or walkway can last.
When it comes to property values and curb appeal, you shouldn’t ignore its maintenance and replacement. Planning for the replacement of your Hanover County 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 Richmond Metro, we can help you make a property management plan that will guarantee your real estate success for many years. Contact us online or call us at 804-417-7005 for further information about our property management options in Hanover County and the surrounding vicinities.