The Five Most Expensive Rental House Repairs
Hey, Spencer Sutton here with gkhouses and I want to talk to you today about the five most expensive repairs that you’ll face as a rental house owner.
So these are probably not going to be a huge surprise, but maybe so.
And some things you might not have thought about, but that you can save for in the future if it makes sense to you. Most expensive repair number one is going to be your roof.
Repair number one out of the five most expensive rental house repairs is going to be your roof.
Roofs, depending on where you live, wear out differently in different parts of the country.
I know in Birmingham, Alabama, where I am, our harsh summers really beat a roof up.
And our winters aren’t too terribly bad, but it’s enough of a difference to really wear down a roof quickly.
Also in Denver, where we manage a lot of properties, the rough winters beat down a roof and so also the dryer air conditions have an effect on the roof.
Your roof is most definitely going to be one of your most expensive items to replace depending on how long you keep that rental house.
Repair number two out of the five most expensive rental house repairs is going to be your furnace or your heating and air system.
The next repair that’s going to be very expensive is going to be your furnace or your heating and air system. So this depends on where you live.
And in Denver, a lot of people just have furnaces and in Birmingham, Alabama, we definitely have heating and air systems.
Those are generally going to be fairly expensive replacements for you.
And they tend to last about as long as a roof just depending on how much they get used and how large the house is.
If, you know, if you have a larger rental house, then obviously, your system’s going to be larger, it’s going to be more expensive, average around $6,000.
In Birmingham, the same thing, $5,000, $6,000. But that’s definitely going to be something that’s going to have to be replaced just depending on how long you keep that rental house.
When you’re talking about keeping a rental house 20 years, then most definitely those things are going to be replaced at some time or another.
Repair number three WOuld be:
The one that people might not think about too often is just the sewer line And this is a big issue in places where you have older homes, where you have older rental houses.
We’ve got a lot of them here in Birmingham that have, like, terracotta piping and you have roots that grow down, grow through the line and cause all kind of havoc.
You can essentially roto-rooter it out and clean it out, but after a while, it’s going to have to be replaced. You could have a break in the main going out to the sewer.
Anytime you have to get a tractor, some type of big piece of equipment, to dig the yard up, possibly even get into the street and replace the sewer line that is going to be very expensive.
You’re talking several thousand dollars. I’m thinking of this because I just had it done at a house, you know, probably a year and a half ago now.
Very expensive, not fun to do, you know, doesn’t improve the value of the house like a new roof, or like a central heat and air, or a furnace does.
And, unfortunately, it’s just kind of one of those things that you have to deal with.
Repair number four is going to be the foundation work.
The next thing is anything to do with foundation work.
So, typically, if you’ve already owned the house or you’re going to buy the house, you should have it inspected. Like, if you’re going to buy the house, you should have it inspected.
If you already own the house, you already know whether it has foundation issues or not.
But in the case that you have poor drainage on a house or something that starts to shift somehow in the foundation of the house, if you have to have any type of foundation work done, then you know that’s going to be extremely expensive.
Repair number five is going to be the mold remediation.
The fifth most expensive repair on a rental house is going to be mold remediation.
Now, in more arid areas, drier air, you might not have that issue, but definitely in the southeast, where we manage a lot of houses, then there could be, with all the moisture, with a lot of rain, if water gets trapped, gets into the house, seeps through the foundation and basements especially, you can end up having a lot of mold.
So, to hire a mold Remediation Company is going to be quite expensive just depending on how much damage is done.
I have a friend here in Birmingham who owns a ServPro franchise, a few of them, and, you know, he’s quoting anywhere $2.50, $3.50 a square foot for mold remediation.
It just depends on how large your house is or how large the area that’s affected is.
I’ll give you one more that is quite expensive, and I’ve had to deal with this recently on a couple of houses.
And that is tree removal. So, really, six expensive home repairs. And even though it’s not a home repair, sometimes you have issues with trees.
So tree removal tends to be very expensive. You always want to hire somebody that’s licensed and insured.
All of our people are licensed and insured, but we don’t have people that specifically do tree removal.
We outsource our tree removal to very reputable companies in the area. Unfortunately, when you’re reputable and you have a license and insurance, the price of that goes up because there’s a certain level of trust and guarantee along with that work.
And so, just depends if it’s fallen near the house, if it’s really large, obviously, you could be, you know, you could be talking about a thousand, several thousand dollars.
If it’s a tree that needs to be taken down, that looks like it’s going to fall, our advice is to always get that taken care of before it causes damage to your property and could potentially harm your tenant.
But tree removal is going to be expensive no matter how you look at it.
So those are the five, and if you want to add the bonus six, of the most expensive home repairs for rental house owners.
If you ever have any questions, feel free to reach out to us. You can email me personally, firstname.lastname@example.org. Thanks so much. I’ll look forward to hearing from you.