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Pros and Cons of Vinyl Siding for Your Norfolk Rental Property

Norfolk Rental Property with Vinyl SidingVinyl siding is one of the most sought-after siding materials for residential properties. But is vinyl siding a good choice for your Norfolk single-family rental property? From a financial perspective, there are pros and cons to choosing vinyl siding. By checking both the cost benefits and the drawbacks as well, you can better assess the selections that would be right for your rental home.

Possibly the most apparent cause why vinyl siding is such a well-liked choice for home exteriors is its affordability. When contrasted with other kinds of materials, vinyl siding is one of the least expensive to buy. It is also comparatively easy to install, which can significantly decrease those costs as well. When it comes to budget-friendly options, vinyl is the clear frontrunner for rental home exteriors.

Additional benefits of vinyl siding consist of its long-lasting durability. Vinyl siding comes in many different styles and colors, all of which are waterproof and fade resistant. That implies that once you have the siding installed, it should last for several years before it begins to manifest much wear. Vinyl siding is easy to clean with a pressure washer and does not retain or absorb moisture. So, for Norfolk 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.

Still, there are some drawbacks to vinyl siding. Possibly one of the most important reasons you might not want to install vinyl siding on a rental house is because while it is durable, it can be quickly dented and scratched. If you have trees or shrubs near your rental property’s exterior walls, those branches could prompt permanent damage to the vinyl siding. Tenants are not always the best at keeping plants neatly trimmed, and so the likelihood of overgrown trees must be considered before choosing to install vinyl siding.

One more critical factor is whether and how vinyl siding suits 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 being able to deduct the entire expense in the year of purchase. While vinyl siding is an affordable option, it is not precisely inexpensive and will need a large investment of cash to accomplish. Knowing how much of the cost you can take as a multi-year tax deduction can help you better determine whether vinyl siding is right for your rental properties.

Eventually, it is up to you to choose whether vinyl siding is the best option for your rental homes. Once you do, though, then the real work of getting a quality vendor begins. All of this study and research can take up a substantial amount of time, time that you could be spending on more productive investing projects.

Instead, examine the benefits of hiring Real Property Management Hampton Roads. We can help you determine which exterior siding options work best for your Norfolk rental properties as well as recommend quality vendors with proven track records— professionals who will do the job right and at a fair price. To learn more about what we have to offer, contact us, or call 757-395-4274 today!

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.