Buying and managing rental properties in North Hollywood needs long-term investment planning. Your new rental property will need to be maintained and interior and exterior items at the end of the day need to be repaired and replaced.
Some of these elements are inexpensive, but some, notably those around the exterior of a rental home, can be rather expensive. The guide to long term success as a North Hollywood property owner means foreseeing these expenses and involving them in your overall property management plan.
To do that, it is important to understand the life span of all exterior items. Similar to how carpet and interior paint both have certain life expectancies, so do the exterior items. For example, a well-maintained deck or patio will last between 15 and 20 years whereas a neglected deck could start to become a safety hazard 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 the quality and climate changes, a garage door can last anywhere from 15 to 20 years. This estimate can be applied to other exterior doors that are exposed to the outside elements.
You should also be mindful that materials can make all the difference when it comes to the life span of exterior items. Quality vinyl windows, for instance, can last for up to 40 years, while cheap windows may need to be replaced in just 15. A quality cedar fence may last around 15 and 30 years, while pine fences will need to be replaced after five to twelve, and spruce fences in as short as four to seven.
Concrete and asphalt are popular for their durability, but even they need to be replaced eventually. This is of particular concern when it comes to buying 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 a huge difference when it comes to how long a driveway can last.
In relation to property values and curb appeal, it is not worth it to take risks with maintenance and replacements. Planning the replacements for your North Hollywood 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 Vision, we can help you generate a property management plan that will ensure real estate success for years to come. Contact us online or call us at 818-233-8789 for more information about our property management options in North Hollywood and the adjoining location.