Nationwide, vinyl siding is one of the residential properties’ most typical siding materials. However, is vinyl siding a good option for your Berkeley single-family rental property? The use of vinyl siding has pros and cons, like any other building material. However, you can easily determine which exterior would work best for your rental property by checking comparable properties in your local rental market and the cost benefits of other kinds of siding.
Comparable Properties
Among the most important factors to think about when selecting a style of siding for your rental home is what the other homes in the neighborhood look like. Perhaps the biggest reason vinyl siding is such a preferred alternative for home exteriors is its inexpensiveness. In comparison with other kinds of materials, vinyl siding is one of the least costly. Additionally, it is relatively simple to install, which can significantly reduce those costs. In terms of budget-friendly options, vinyl is the clear frontrunner for rental home exteriors.
Conversely, if the other homes in your local rental market all have stucco, brick, or other exterior materials, using siding could hurt you financially. The reason for this is that if your rental property looks less expensive than the houses nearby, renters might be afraid that the Berkeley property manager is cutting corners and may not do an excellent job of keeping up with property maintenance and repairs. Additionally, putting siding when comparable properties do not could result in your property’s value reducing. Because of this, before making any decisions about vinyl siding, observe similar properties in your rental market first.
Cost Benefits
If vinyl siding is widely used in your rental market, there are a couple of clear benefits to deciding to utilize the same on your property. In addition to being less costly, vinyl siding is versatile and has long-lasting durability. Vinyl siding offers many different styles and colors, many of which are waterproof and fade-resistant. This signifies that once the siding is installed, it should last for many years before it starts to show much wear. Vinyl siding is simple 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 cost-effective choice you need to keep your rental home’s curb appeal going strong.
Drawbacks to Siding
Conversely, there are a couple of drawbacks to vinyl siding. Perhaps one of the principal 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 you have trees or shrubs close to your rental property’s exterior walls, those branches could create permanent damage to the vinyl siding. Tenants are not typically the greatest in keeping plants neatly trimmed, so the risk of overgrown trees must be anticipated when installing vinyl siding.
Another critical 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 low-cost option, it is not exactly cheap and will demand a large investment of cash to finish. You can make a more educated decision about whether vinyl siding is perfect for your rental properties by calculating how much of the cost you can carry as a multi-year tax deduction.
The decision of whether vinyl siding is the right choice for your rental homes is ultimately up to you. Once you do, however, then the actual procedure of locating a reliable vendor starts. All of this analysis and research requires a significant amount of time you could spend on more profitable investing activities instead.
So, consider the benefits of collaborating with Real Property Management Pacific. We can help you decide which exterior siding options work best for your rental properties. We recommend professional vendors with proven track records and professionals who will do the job appropriately and at a fair price. Contact us online or call today to discover more about what we offer!
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