Nationwide, vinyl siding is one of the residential properties’ most typical siding materials. However, is vinyl siding a safer option for your Los Altos single-family rental property? Of course, there are pros and cons to vinyl siding, the same as any other building material. But if you learn more about comparable properties in your local rental market and the cost benefits of multiple kinds of siding, it will be easy for you to decide which kind of exterior would work best for your rental property.
Comparable Properties
One of the most important factors to remember when choosing a type of siding for your rental home is what the other homes in the neighborhood are using. Possibly the biggest reason vinyl siding is the best choice for home exteriors is due to its affordability. When compared to the cost of other materials, vinyl siding is usually the cheaper option. Since it is easy to install, it can significantly reduce those costs as well. Regarding budget-friendly options, vinyl is the clear frontrunner for rental home exteriors.
Nevertheless, 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 looks simpler than the houses around it, renters might be concerned that the Los Altos property manager is cutting corners and may not perform an excellent job of keeping up with property maintenance and repairs. Moreover, putting siding when comparable properties do not could reduce your property’s value. Thus, before you decide what to do about vinyl siding, you should look at similar properties in your rental market first.
Cost Benefits
If vinyl siding is widely used in your rental market, there are some big benefits to installing the same on your property. In addition to its cheapness, vinyl siding is versatile and has long-lasting durability. Vinyl siding offers numerous different styles and colors, all of which are waterproof and fade-resistant. That indicates that once the siding is installed, it will be in good shape for many years before it starts to show much wear. Vinyl siding is easy to clean with a pressure washer and doesn’t retain or absorb moisture. So for rental properties in humid climates, vinyl siding might be the less expensive substitute that you need to keep your rental home’s curb appeal going strong.
Drawbacks to Siding
Sadly, there are a couple of drawbacks to vinyl siding. Maybe one of the major reasons you would choose 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 you have trees or shrubs near your rental property’s exterior walls, those branches could create permanent damage to the vinyl siding. Tenants are not always the greatest at keeping plants well-trimmed, so the chance of overgrown trees must be taken into consideration before installing vinyl siding.
One more essential 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. Even though vinyl siding is a low-cost option, it is not exactly cheap and will need a large investment of cash to accomplish. If you understand how much of the cost you can carry as a multi-year tax deduction, you can easily determine whether vinyl siding is a good idea for your rental properties.
Lastly, it is up to you to choose whether vinyl siding is the right candidate for your rental homes. Once you do, however, then the real work of finding a trustworthy 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, think about what you would get from hiring Real Property Management Silicon Valley. We can help you figure out 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 expertly and at a fair price. Contact us online or call today to find out more about our offerings!
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