Nationwide, vinyl siding is one of residential properties’ most commonly used siding materials. But is vinyl siding a smart option for your La Crescenta single-family rental property? Just like any other building material, there are pros and cons to choosing vinyl siding. But by looking more deeply at comparable properties in your local rental market and the cost benefits of various types of siding, it may be much simpler for you to decide which kind of exterior would work best for your rental property.
Comparable Properties
One of the most important factors to take into consideration when selecting a type of siding for your rental home is what other homes in the neighborhood seem to be using. Possibly the biggest reason vinyl siding is such a likely candidate for home exteriors is its affordability. Compared with different kinds of materials, vinyl siding is one of the least expensive. It is also relatively easy to install, which can greatly reduce those costs as well. Regarding budget-friendly options, vinyl is the clear frontrunner for rental home exteriors.
But, if the other homes in your local rental market all have stucco, brick, or other exterior materials, using siding could hurt you financially. This is because if your rental property seems cheaper than the houses neighboring yours, renters might be afraid that the La Crescenta property manager is cutting corners and may not perform a satisfactory job of keeping up with property maintenance and repairs. Plus, using siding when comparable properties do not could make your property’s value lower. So, inspect similar properties in your rental market first before making any decisions about vinyl siding.
Cost Benefits
If vinyl siding is widely used in your rental market, there are a few clear benefits to using the same on your property. In addition to being inexpensive, vinyl siding is versatile and has long-lasting durability. Vinyl siding can be purchased in a wide variety of styles and colors, all of which are waterproof and fade-resistant. This indicates that once the siding is installed, it should continue for a good number of years before beginning to show much wear. Vinyl siding is easy to clean with a pressure washer and does not retain or absorb moisture. So for rental properties in humid climates, vinyl siding might be the low-cost answer you need to keep your rental home’s curb appeal going strong.
Drawbacks to Siding
Of course, there are some drawbacks to vinyl siding. Perhaps one of the main reasons you might not want to install vinyl siding on a rental house, even if other houses in your market have vinyl siding, is because while it is durable, it can be easily dented and scratched. If there are trees or shrubs near your rental property’s exterior walls, those branches could create permanent damage to the vinyl siding. Tenants are rarely the best at keeping plants neatly trimmed, so the probability of overgrown trees is important to be considered before installing vinyl siding.
Another key consideration is whether and how vinyl siding fits into your tax planning. According to the IRS, vinyl siding is an improvement, not a repair. This means that you will need to depreciate the cost of the siding over several years rather than be able to deduct the entire expense in the year of purchase. Though vinyl siding is not an expensive option, it is not exactly cheap and will need a large investment of cash to install. If you know how much of the cost you can carry as a multi-year tax deduction, you’ll be in a better position to decide whether vinyl siding is the best for your rental properties.
In the end, the decision of whether vinyl siding is the best option for your rental homes is entirely up to you. Once you do, however, then the real work of choosing a competent vendor begins. All of this analysis and research can necessitate a considerable amount of time you could spend on more profitable investing activities instead.
So, take into consideration the advantages of working with Real Property Management Vision. We can assist you in deciding which exterior siding options work best for your rental properties. We recommend reliable vendors with proven track records and professionals who will do the job right and at a fair price. Contact us online or call today to find out more about the services we provide!
Originally published on October 18, 2019.
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