On the subject of rental home ownership in New London, you need to know what the condition of the home’s exterior elements are and how to keep track of it. This knowledge is just as important as knowing the best time to replace the carpet or repaint the walls. Whether it’s an older property you’re renting out or one that you’ve recently constructed, knowing the age of each item and how long it can be reasonably expected to last is an important part of successful rental property management.
A good landlord or property manager understands the healthy lifespan of common exterior elements of your rental property in New London. A product’s lifespan is how long it should last when used under standard conditions. As an illustration, think of patios. A quality cement patio lasts upwards of 50 years thanks to the durable nature of cement. On the flip side, wooden decks get roughly ten years since they can be quite sensitive to natural elements.
For reference, we’ve listed a few 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
Lifespan, as a concept, becomes extremely important when your tenant causes property damage that surpasses normal wear and tear. As an example, say your vinyl siding gets damaged, but it is more than 25 years old, the tenant shouldn’t be held responsible for the cost of repairs. If the vinyl siding is fewer than 25 years old, the tenant would likely be responsible to pay some or all of the cost of repairs.
Instead of spending so much time and money on a useless lawsuit, it would be better to beat property damage instead. With the right knowledge and being proactive in dealing with property management, it is possible to keep both the inside and outside elements of a rental home in great working condition. Regular replacement of items beyond their useful lives is one way to avoid bearing the full cost of repairs caused by tenant negligence. Another opportunity is to have regular property evaluations performed so that each part of the rental home can be properly monitored.
Real Property Management Hartford Metro/Greater New London offers a thorough property management program that gets you ready for the future with maintenance plans, property evaluations, and much more. We have the experience and the skills to keep your New London real estate investments profitable for many years to come. Would you like more information? Go ahead and contact us online or call us at 860-316-4388.
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