Nationwide, vinyl siding is one of the residential properties’ most used siding materials. On the other hand, is vinyl siding a preferable option for your Mobile single-family rental property? Just like any building material, there are pros and cons to picking vinyl siding. But by reviewing comparable properties in your local rental market and the cost benefits of various forms of siding, you can be able to determine which style of the exterior would work best for your rental property.
Comparable Properties
One of the most significant considerations when selecting a type of siding for your rental home is what the other homes in the neighborhood look like. Maybe the biggest reason vinyl siding is such a favorite choice for home exteriors is its low price. Compared with other types of materials, vinyl siding has the best value. It is also extremely simple to install, which can vastly reduce those costs as well. Regarding budget-friendly options, vinyl is the clear frontrunner for rental home exteriors.
Yet, 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 appears to be cheaper than the houses nearby, renters might be anxious that the Mobile property manager is cutting corners and may not do a good job of keeping up with property maintenance and repairs. In addition, installing siding when comparable properties do not could cause your property’s value to fall. Thus, before making any vinyl siding decisions, look at similar properties in your rental market first.
Cost Benefits
If vinyl siding is widely used in your rental market, there are some clear benefits to installing the same on your property. In addition to being affordable, vinyl siding is versatile and has long-lasting durability. Vinyl siding is available in numerous different styles and colors, all of which are waterproof and fade-resistant. That means that once the siding is installed, it should survive for numerous years before it starts 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 affordable alternative you need to keep your rental home’s curb appeal going strong.
Drawbacks to Siding
Unfortunately, there are some drawbacks to vinyl siding. Perhaps one of the major reasons you may decide not 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 produce permanent damage to the vinyl siding. Tenants aren’t typically the greatest at keeping plants neatly trimmed, so the chance of overgrown trees should be considered before installing vinyl siding.
Another major 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 implies 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. While vinyl siding is an excellent solution, it is not exactly cheap and will necessitate a large investment of cash to complete. Knowing how much of the cost you can carry as a multi-year tax deduction can assist you in evaluating whether vinyl siding is good for your rental properties.
Ultimately, it is up to you to decide whether vinyl siding is the best option for your rental homes. Once you do, however, then the real work of finding a quality vendor begins. All this analysis and research can take up a considerable amount of time you could spend on more profitable investing activities instead.
So, examine the perks of engaging with Real Property Management Azalea City. We can assist you in identifying which exterior siding options work best for your rental properties. We recommend credible vendors with proven track records and professionals who will do the job correctly and at a fair price. Contact us online or call today to discover more regarding what we offer!
Originally published on October 18, 2019.
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