Rental homes are a great way to generate income and can be a fantastic investment for many people. Around 37 percent of all US households are occupied by renters, which means there are millions of rental properties across the US. One of the biggest responsibilities of owning a rental property is keeping it well maintained for the renters. Often rental property owners focus on things that affect renters on a daily basis like appliances and heating and air. Things like windows may fall by the wayside. However, windows may require more care than the owners realize. Here are three reasons to take a second look at the windows in a rental property.
They May Need Replacing
Older windows can be a hassle for renters. If they do not close or latch properly, they can be a security risk. Old windows are also often far less energy efficient than newer models, which can mean higher utility bills for renters. The windows in a rental property may need to be the replaced if they are not secure or if they do not help the home maintain a comfortable temperature. The average cost of window replacement is $500 per window. However, new windows make the property more appealing to renters and can save money on energy costs.
Certain Types of Window May Be Required
Another thing to consider when it comes to rental property is the location. Areas where the weather can get very hot or very cold may require more efficient windows. Hurricane-prone areas also may have certain requirements when it comes to replacement windows. Property owners may find themselves needing to replace the windows in their rental property with storm windows. These windows can hold up better to the wind and debris caused by a hurricane than traditional windows. These impact-resistant windows cost around $575 and up per window.
Windows May Need To Be Added
Many homeowners choose to turn their basements and attics into rental spaces. This can be a great steady source of income. However, it's important to make sure that local laws and ordinances are followed. Most areas require that bedrooms have a certain amount of windows and that they be large enough for the space. The cost to add a window opening is around $800 plus the cost of the window itself. Adding windows when converting spaces into rental units is a must for safety reasons.
Windows are something that must be considered when maintaining a rental property. Replacement may be needed for older or broken windows. Certain areas may require a certain type of window, for example, hurricane windows in storm-prone areas. Rental property owners must also consider whether or not windows need to be added in order to bring a property up to code.Share