Wood, vinyl, carpet, tile…The list goes on. What type of flooring will rent your property faster? What flooring will last the longest?
Trading the flooring in your rental property? There are many choices available and deciding what’s best for your investment while also considering what residents like can be challenging. Here are the pros and cons of the most popular types of flooring so you can make the best decision for your investment.
Carpet
Carpet is considered a non-permanent flooring, which has a depreciation life of only 5 years for tax purposes. It is the most common type of flooring used in rentals as it is easy to replace.
Pro – Easy to install and inexpensive to replace.
Con- Shows wear easily and must be cleaned between residents. Should be replaced should be every 5-7 years.
Tile
If a tile is cracked or broken by a resident, you can charge them for the replacement of that tile, but if you are no longer able to purchase a tile that matches and the entire floor needs to be redone you will have to front that cost on your own. It is best to have extra tiles on hand so that patching is possible down the road.
Pro – Long-lasting, durable, and easy to maintain.
Con– Expensive to install, must be re-grouted and sealed periodically.
Wood
The reason for this is refinishing. The thicker the layer of real wood is, the more times you can refinish the product. In a rental property, this may be necessary more frequently than in an owner-occupied home. Prefinished products are going to give you the most durable finish, but no wood floor is indestructible.
Pro – Increases the property’s appeal since it’s considered an upgrade to most residents.
Con– Expensive to install and hard to repair just a portion if damaged.
Laminate
Laminate flooring is not forgiving if anything it tends to accentuate any imperfections in the floor beneath it. If you have a lot of uneven surfaces, humps, or dips this may not be a good option for you. Second, there is a huge difference in quality from product to product. I would recommend a commercial grade laminate floor with a lifetime warranty. Be careful though, some of the lifetime warranties are nil and void if you have a renter. Third, the install of laminate flooring is important.
Like wood, laminate expands and contracts; if there isn’t anywhere for the wood to go it will bind, bubble, and break. While some installers will try to convince you that laminate flooring is ok in a kitchen and bathroom, it is not forgiving with water damage.
Pro – Less expensive to install, considered an upgrade to renters, looks like wood.
Con – Prone to water damage, hard to patch a section if damaged.
Vinyl
Pro – Durable, waterproof, good on uneven surfaces. Inexpensive and easy to install.
Con – Considered cheap to most renters. The entire surface must be replaced if damaged.