Nationwide, vinyl siding is one of the most common siding materials for residential properties. However, is vinyl siding an excellent choice for your Langhorne single-family rental property? The use of vinyl siding has pros and cons, just like any other building material. But by carefully examining comparable properties in your local rental market and the cost benefits of multiple kinds of siding, choosing which kind of exterior would work best for your rental property can be simpler.
Comparable Properties
Among the most crucial factors to remember when choosing a style of siding for your rental home is what the other homes in the neighborhood look like. Possibly the biggest reason vinyl siding is such a popular choice for home exteriors is its affordability. Compared with other types of materials, vinyl siding is one of the cheapest choices. Additionally, it is pretty simple to install, which can significantly reduce those costs. Concerning budget-friendly options, vinyl is the clear frontrunner for rental home exteriors.
However, 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 cheaper than the houses around it, renters might be worried that the Langhorne property manager is cutting corners and may not do an excellent job of keeping up with property maintenance and repairs. Plus, using siding when comparable properties do not could cause your property’s value to go down. So, before making any decisions about vinyl siding, check similar properties in your rental market first.
Cost Benefits
If vinyl siding is widely used in your rental market, there are some obvious benefits to choosing to use the same on your property. In addition to its affordability, vinyl siding is versatile and has long-lasting durability. Vinyl siding comes in many different styles and colors, all of which are waterproof and fade-resistant. That means that once the siding is installed, it should last many 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 low-cost option that you need to keep your rental home’s curb appeal going strong.
Drawbacks to Siding
Unfortunately, there are some drawbacks to vinyl siding. Probably one of the primary reasons why it is not a good idea 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 any trees or shrubs close to your rental property’s exterior walls, those branches could lead to permanent damage to the vinyl siding. Tenants are not the most successful at keeping plants properly trimmed, so the possibility of overgrown trees must be taken into account before installing vinyl siding.
Another vital 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. Although vinyl siding is a cost-effective alternative, it is not exactly cheap and will demand a large investment of cash to complete. You can make a more informed choice about whether vinyl siding is best for your rental properties by knowing how much of the cost you can carry as a multi-year tax deduction.
At the end of the day, it is up to you to select whether vinyl siding is the ideal choice for your rental homes. Once you do, however, then the actual process of locating a reliable vendor starts. All this analysis and research can occupy a significant amount of time you could spend on more profitable investing activities instead.
So, take into account the advantages of engaging with Real Property Management Prosperity. We can assist you in choosing which exterior siding options work best for your rental properties. We recommend reputable vendors with proven track records and professionals who will do the job effectively and at a fair price. Contact us online or call today to find out more about what we offer!
Originally published on October 18, 2019.
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