When it comes to rental home ownership nationwide, taking into account and being informed of the state of each home’s exterior elements is just as salient as thinking when to replace the carpet or repaint the walls.
Whether you’re renting out an older property or a newly built home, discovering the age of each item and how long it can adequately be expected to last is a principal part of successful rental property management.
Importance of Maintaining Your Property’s Exterior
A good landlord or property manager properly considers the healthy lifespan of common exterior elements of your rental property. A product’s lifespan is the period it should last, in keeping with standard conditions. As a sample: a quality cement patio stays upwards of 50 years, owing, in fact, to the highly durable nature of cement. By contrast, wooden decks only last about ten years, given their sensitivity to the natural elements.
For your trouble-free reference, we’ve listed a handful of common exterior items and their average lifespan:
- Garage Door: 15 years
- Automatic Garage Door Opener: 5-10 years
- Wood Fence: 10 years
- Stucco Exterior: 20-50+ years
- Vinyl Siding: 25 years
It’s beneficial to be familiar with how long an element is expected to last in your property, precisely if your tenant causes damage beyond normal wear and tear. To cite an instance, if the vinyl siding, which is over 25 years old, gets damaged, the tenant shouldn’t be held responsible for the repair cost. But, as a matter of fact, if the vinyl siding is less than 25 years old, the renter would most likely be obligated to pay some or all the repair costs.
Stay Ahead of Property Damage
Rather than spend time and money on a non-profitable judicial process, the recommended option to fulfill is to be ahead of property damage. With valuable and helpful information, and a proactive system for property management, it’s highly possible to manage and keep every single component of the rental home – both in and out– in good form. Properly replacing items, at scheduled intervals, beyond their suitable and useful lives is one way to avoid bearing the full cost of repairs owing to tenant negligence. Another is implementing regular property evaluations to carefully monitor various areas of the rental home.
Insurance & Liability Risks of Aging Exteriors
Ignoring aging exterior components does more than just hurt your budget it creates significant liability. Insurance companies have strict requirements for property condition.
- Roofing: An aging roof is the top source of insurance claims. An old roof past its lifespan can lead to policy cancellation or denial of a claim for interior water damage.
- Decks & Railings: Deteriorated wooden decks and railings pose major safety risks. If a tenant or guest is injured due to a railing failure, the owner faces potential liability lawsuits if regular maintenance and inspection logs cannot be produced.
- Vermin/Pest Entry: Cracked stucco or degraded siding can create openings for pests and rodents, which causes costly interior damage that is often excluded from standard insurance policies.
Boosting Tenant Appeal and Reducing Vacancy
The condition of your rental property’s exterior directly impacts your ability to attract and retain high-quality tenants, which is key to reducing costly turnover.
- First Impressions & Curb Appeal: An old, poorly maintained exterior (faded paint, damaged siding, splintered decks) suggests deferred maintenance to potential renters. Investing in a clean, modern exterior dramatically boosts curb appeal, allowing you to command higher rents and shorten vacancy times.
- Tenant Retention Factor: Tenants value a landlord who invests in the home. By proactively replacing an aging wood fence or updating a worn garage door, you signal that the home is well-cared for. This positive perception encourages tenants to sign longer leases and take better care of the property themselves.
- Safety & Function: Exterior elements like railings, walkways, and functional automatic garage door openers are essential to daily living. Ensuring these items are up-to-date and safe prevents tenant frustrations and maintenance requests, improving the overall rental experience.
Proactive exterior maintenance is not just a cost it’s an investment in a stable income stream and a stronger brand reputation among local renters. Proactive replacement and well-documented property evaluations are key to maintaining favorable insurance rates and reducing owner liability.
Real Property Management Metro offers a full property management program that includes preparing for the coming years with maintenance plans, property evaluations, and so much more. We have the resources and proficiency to attend to your Towson real estate investments, making them highly profitable for the imminent future. Contact us online or at 410-290-3285 today!
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