Don’t wait until your roof fails and causes costly water damage, whether you want to list a home or are looking for residents for coliving rentals. Addressing roof damage on your rental property is essential, but deciding on a roof repair or replacement is difficult. This is especially true on a split housing rental property where leaks may cause the property to become uninhabitable, costing you valuable income.
Consider the age of your rental property roof
The average life expectancy of a roof is 20 years. This can be longer or shorter based on the location and weather conditions that affect the roof’s lifespan. Consider a roof replacement if your damaged roof is around 20 years old. Consider a repair if your roof is relatively new unless the damage is extensive.
Check the roof for visible damage
This is an easy first step. You’re looking for any loose, missing, or cracked shingles. If a shingle does not align with the other shingles, it may be loose and need repairs. If there is only one or a few, you can probably be safe to repair your roof if it is not very old. This visual check can be necessary after any significant storms in your area.
Another visual check for your roof condition is to check for sagging. This can be a sign that your shingles have allowed water underneath them and the roof underlayment has become damaged from moisture. This may indicate that the roof needs replacement.
Roof leaks or signs of moisture damage
Leaks or moisture damage are often the way roof problems are found on rental pads. This must be addressed to keep your rental property occupied. Sometimes, this is a single damaged or missing shingle. Other times the roofing company will discover additional damage that should be repaired to prevent another leak. With co living rentals, it’s best to do the most complete repair or replacement at once to ensure your rental investment keeps providing you with profits.
Rental property roof repair pros and cons
Pros
- Quicker fixes
- Less expensive
- Extends the life of the existing roof
Cons
- The roof will still need to be replaced eventually
- Hidden damage may be missed
- Poor-quality installations can lead to future problems. (That’s why at PadSplit, we help you with our vendor network of professionals.)
Rental property roof replacement pros and cons
Pros
- Long-lasting fix
- Any hidden damage will be repaired
- Curb appeal and value are increased
Cons
- Roof replacements take longer
- More expensive than roof repairs
Reroofing is a third cost-effective option
Reroofing involves putting new shingles over existing shingles. If you have many damaged shingles, but your roof is not sagging and appears in good condition, reroofing is an option. This may only last for a short time but is much quicker and cheaper than a complete roof replacement that requires the removal of the old shingles.
Reroofing falls between minor repairs and complete roof replacements in terms of costs for your rental property roof. This makes it a third option that needs to be considered. Reroofing may be a good option for rental properties because it is a complete repair that may last many years. Reroofing is quicker than roof replacements and will often not require interruption of your rental property profits.
Upgrade your rental property with PadSplit
PadSplit can connect you with our vendors for roofing repairs and, at the same time, help you upgrade your property to increase your yield by more than 100% for exceptional value. Whether you’re an Atlanta or Tampa real estate investor, turn your roof repair or replacement into a chance to make even more profit with your rental property. Interested in how much more your property could earn once the necessary repairs are made? Use our calculator to find out.
