Nationwide, vinyl siding is one of the common choice siding materials for residential properties. But is vinyl siding an ideal option for your Palmdale single-family rental property? There are pros and cons to using vinyl siding, just like any building material. But by carefully examining comparable properties in your local rental market and the cost benefits of different types of siding, it can be less complicated to pick which type of exterior would work best for your rental property.
Comparable Properties
One of the most critical aspects to think about when deciding on what sort of siding is for your rental home is what other homes in the neighborhood are using. Perchance the biggest reason vinyl siding is such a usual choice for home exteriors is its cheapness. As opposed to several types of materials, vinyl siding is one of the least costly. It is also less complicated to install, which can critically 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 happens because if your rental property seems to be less costly than the houses around it, renters might be suspicious that the Palmdale property manager is cutting corners and may not do a good job of keeping up with property maintenance and repairs. Plus, installing siding when comparable properties do not may lead your property’s value to decrease. Hence, before finalizing 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 deciding to utilize the same on your property. In addition to being cheaper, vinyl siding is versatile and has long-lasting durability. Vinyl siding is produced in a variety of different styles and colors, all of which are waterproof and fade-resistant. That implies that once the siding is installed, it will survive for many years before it starts to show much wear. Vinyl siding is trouble-free 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 economical alternative that you need to keep your rental home’s curb appeal going strong.
Drawbacks to Siding
However, there are a few drawbacks to vinyl siding. Perhaps one of the biggest 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 you have trees or shrubs near your rental property’s exterior walls, those branches could cause permanent damage to the vinyl siding. Tenants are not always the best at keeping plants neatly trimmed, so the possibility of overgrown trees must 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 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. Despite that vinyl siding is a low-cost option, it is not exactly cheap and will necessitate a large investment of cash to achieve. Determining how much of the cost you can carry as a multi-year tax deduction can help you make an informed decision about whether vinyl siding is the best for your rental properties.
Lastly, it is up to you to assess whether vinyl siding is the perfect choice for your rental homes. Once you do, however, then the real procedure of choosing a quality vendor begins. All this analysis and research can waste a significant amount of time you could spend on more profitable investing activities instead.
So, know the advantages of hiring Real Property Management Traditions. We can advise you on which exterior siding options work best for your rental properties. We recommend trusted vendors with proven track records and professionals who will do the job efficiently and at a fair price. Contact us online or call today to discover more about what we have to give!
Originally published on October 18, 2019.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
