A Guide on the Life Expectancy of Rental Property Items - article banner

If it’s not broken, don’t fix it – right?

That’s sound advice for some things, but if you have a refrigerator in your Monroe rental home that’s 30 years old, it might be time to do some tinkering.

Deciding how long you can expect the systems and items in your rental property to live depends on a number of things. If you have a lot of tenant turnover, you might get fewer years out of your carpet than you would if the same tenant has been gingerly walking on that carpet for a long time. Dishwashers that are used twice a day will break down faster than dishwashers that are used once a week.

While there are a lot of variables involved in this topic, we’re taking a look at life expectancy for the things you need to keep well-maintained in your rental property. This general guide can never be as precise as we’d like it to be, but it gives owners a good starting point from which to estimate when they’ll have to replace a roof or a hot water heater.

Floors and Paint in Monroe Rentals

A good quality carpet can often last for five to seven years, especially if it’s professionally cleaned regularly. The amount of traffic also impacts how long you can keep carpeting. If you want to maximize your rental property carpet’s lifespan, invest in a durable carpet fiber like nylon.

Consider hard surface flooring, which can last for up to 10 years. While hardwoods and tiles are nice, you can also use vinyl and laminate to cut down on replacements and improve maintenance and rental value.

Paint inside your rental home can last three years, but you shouldn’t avoid repainting the property during tenant turnovers, especially if you notice things like nail holes, scuff marks, or smudges and fingerprints that won’t come off.

Life Expectancy of Kitchen Appliances

Age and usage will always impact the lifespan of your appliances. Here’s a general guide based on the market and the appliances found in most Monroe rental properties.

  • Electric and gas stove models will typically last for around 15 years. The oven will generally have the same lifespan. Invest in energy efficient models that won’t look dated in a decade.
  • A reliable refrigerator may last for 10 to 12 years.
  • Your garbage disposal should be functional for eight to 10 years.
  • A dishwasher is also likely to work fine for 10 years, and if you provide a microwave, it’s going to keep running for at least eight or nine years.
  • Washers and dryers, depending on the model, can last around 10 years and sometimes up to 15 years.

HVAC and Other Big Ticket Items

The most expensive systems in your property are water, heating, and cooling.

You’ll probably replace your water heater every 10 years. Have it inspected for rust every year so you’re not surprised with a leak or a flood.

Most HVAC systems can last for 20 years or more. A modern thermostat will typically work reliably for at least 30 years. The weather in Monroe is largely predictable, but there have been some remarkable hot and cold spells in recent years.

Your inspections will reveal whether the entire roof is due for replacement. Different types of roofs have different lifespans, and you can usually tell it’s time for a new roof when shingles are missing or water is entering the home through the roof. A low-end roof can last for around 10 to 20 years, though higher-quality options will often last upwards of 40 to even 50.

Preventative maintenance plays a big role in how long these systems will last. When you have professionals inspecting and servicing your systems and appliances, you can maximize their lifespans. You’ll spend less on both repairs and replacements.

Rental property inspectionsAnother thing to remember is that the life expectancy of each item will almost always increase when you buy higher quality things. If you’d like some help deciding what to buy and when to make replacements, we’re here to provide all the Monroe property management expertise you need. Contact us at Real Estate Gladiators.