Rental Property Investor · Odessa, FL · Member since 2017 · 145 posts · 113 votes
I have multiple properties in the Tampa bay and Lakeland area. Most of them bought when the roof was already getting old and some showed in the inspection that the roof is "near lifespan". Some I had patched up a few shingles.
I have a property that the tenant has decided not to renew the lease and the house has an old roof but had no complaints from tenant so far. Should I let it run for another year or should I proactively start changing roofs ?
Real Estate Agent · Oklahoma City, OK · Member since 2019 · 956 posts · 600 votes
7y
In my market I've got roofers that will go out for free and give you estimates on lifespan, insurability etc. Have you called any roofers to see if they offer that? That could provide some peace of mind if they say that it'll be functional for another 10 years.
Flipper/Rehabber · Muscatine, IA · Member since 2019 · 29 posts · 13 votes
7y
If it were me, I would get the most life out of it that I could. You don't want to wait long enough for leaks to start popping up though, because fixing that damage on top of a roofing bill wouldn't be great.
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
7y
You should replace the roof, if it looks like is worn or will be in need of replacement within 5 years...when you buy. That way you are only going to pay part of the cost, and the tenant pays the rest over time because the cost is buried in the mortgage payment. Don't wait until later when you have to pay full price, in cash, out of pocket...out of your pocket.
Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
7y
Originally posted by @Account Closed:
I have multiple properties in the Tampa bay and Lakeland area. Most of them bought when the roof was already getting old and some showed in the inspection that the roof is "near lifespan". Some I had patched up a few shingles.
I have a property that the tenant has decided not to renew the lease and the house has an old roof but had no complaints from tenant so far. Should I let it run for another year or should I proactively start changing roofs ?
I purchased a house in 2005 with original roof from 1981. The inspector told me the roof was at the end of its life. Over the next 13 years, I had to tar around the vents twice, which cost me less than $10 and a couple hours of time. Last summer I finally replaced the roof. It looked like hell, but was not leaking.
Roofs are tough because they really don't add to rent value. Sure a nicer looking roof adds to curb appeal, but that isn't going to garner much additional rent. That being said, you don't want to leave them all until they are leaking, so maybe you want to start replacing one a year to spread the expense.
Investor · Tampa, FL · Member since 2011 · 2k+ posts · 3k+ votes
7y
I wouldn't replace it until you absolutely have to. The tenant will let you know when it starts leaking. "Near lifespan" could be next month, or it could be 10 years from now. But if you replace it now, you'll never know how much you could have saved.
Rental Property Investor · Clearwater, FL · Member since 2013 · 124 posts · 55 votes
7y
we did small repairs but waited to replace our roof in Clearwater until it sprang a leak and had to replace drywall in a bedroom ceiling. however, our property insurance would have required us to replace the roof if it was 20 years old, no matter if it was in good shape or not. so check if your insurance does that, especially if you use Citizens.
Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
7y
@David Tsedaka remember that we are coming into hurricane season. The condition and age of the roof may affect your payout if a storm hits. Just something to think about. I would make sure that, at the very least, they are within their "usable life", otherwise you are giving the insurance company ammunition....
Investor · Milwaukee, WI · Member since 2013 · 1k+ posts · 1k+ votes
7y
If it aint broke don't fix it. I've seen roofs down to the paper that don't leak. I've seen roofs look like new that leak. Fix it when it starts to leak.
That said, I love Joe V's advice to roll it into the initial cost if you can. After that it's wait and see and save up that cash.
Love Scott M's advice to wait for the down-season.
It depends on the class of your property, C or D you nurse it along till you are down to bare wood. For B class property I gauge it by shingle curl and amount of particles remaining on shingles. When it starts to look rough with areas of drying out and serious curling and splitting I replace it before it leaks. A 25 year roof might last 20 years but more likely 15. The south side will go first.
I never let my properties deteriorate to the point of having roof leaks. Structural integrity of the exterior envelope is important to overall life span of a property. Anyone that has had a unnoticed roof leak for years will attest to that fact. It is like any water leak, just because you can't see it does not mean it is not happening.
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
7y
I have a rubber roof on an apartment building in PNW-lots of rain and wind. It leaked this year but it was the wind blowing water against a sill. Ten feet of caulking fixed that. I had one roofer tell me roof needed replacement-32K. The other roofer said roof is fine-he is the one who did the caulking for 150 bucks!
Roofs can be costly, water damage can cost too. You have to protect your investment; but never listen to just one contractor!
Investor · Chicago, IL · Member since 2009 · 1k+ posts · 1k+ votes
7y
I am in the same situation right now. I am going to choose to replace the roof.
As a landlord, I have several roofs that are marginal and I am trying to extend their life space through repair. So my usual answer would be to extend the use.
Real Estate Appraiser · Isabella lake, CA · Member since 2018 · 628 posts · 491 votes
7y
We had an inspector tell us 9 years ago when we bought, that the roof looked like it would need to be replaced within 5 years. We got flashings and whatnot resealed and a few shingles replaced. 2 or 3 other times we have replace a few shingles, and it is still fine. Knock wood.
Raleigh, NC · Member since 2019 · 78 posts · 40 votes
7y
The only thing I can add to the good advice here is if you get a roofer to look at it, get more than one. Roofers are notorious for telling you how bad it is when sometimes in reality $150 bucks and some TLC and it will give you five more years.
With that said, a leak is a definite problem. We had a commercial building that had storm driven water damage that they estimated $250,000 to fix. The reality was it was a non-event but that is what it could have been if their original estimate had been correct. (The damage wasn't what the roofer claimed)
Real Estate Appraiser · Isabella lake, CA · Member since 2018 · 628 posts · 491 votes
7y
We had a commercial building that had storm driven water damage that they estimated $250,000 to fix. The reality was it was a non-event but that is what it could have been if their original estimate had been correct. (The damage wasn't what the roofer claimed)
Geez. I guess if you are going to tell a lie, make it a whopper.
WorldWide · Member since 2016 · 1k+ posts · 1k+ votes
7y
wait until you get some very strong winds (shouldn't take that long in FL), and hopefully quite a few of your shingles will end up scattered around the house, so you can file a claim and only pay your deductible (unless you're on ACV) and get a new roof. otherwise, stick to what the folks above are saying.
Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
7y
Go out and get estimates for a tear off and replacement . Now to get a better price , after they give you the bid , tell them you want a price to do it as fill in work . Things happen in construction , sometimes you end up with a couple days with nothing to do . its great to have fill in jobs . Ones without a time frame .
Rental Property Investor · Dyersburg, TN · Member since 2019 · 45 posts · 31 votes
7y
@David Tsedaka If it ain’t broke don’t fix it. If it’s not leaking or causing any damages then there’s no reason to fix it. Be on the lookout for a close out or deep discount on shingles so when you do have to replace you won’t be paying full price.
Investor · Highland Park, IL · Member since 2015 · 68 posts · 18 votes
7y
@David Tsedaka I let everything BUT the roof go until it breaks. If it's leaking you can't be calculated about the repair ( unless you already have a go to roofer and the best deal on materials). Not to mention unnecessary damage.
Contractor · Toledo, WA · Member since 2013 · 26 posts · 9 votes
7y
@David Tsedaka I own a roofing company as my real job. Best thing you can do is find a local roofer who works with realtors/investors/etc. Have them inspect roof AND ATTIC. Pay $150 if you have to, many will do for free. Explain your situation to them, and a good roofer will repair/nurse your roofs along to nurture the relationship. As an investor, I understand the draw of cheap, but compare bids carefully and look at jobs they have completed. We replace hundreds of roofs a year, and probably 10-20 each year that are installed poorly. Its a sucky situation you want to avoid. If you end up getting bids/inspections message me and I'll gladly look over for you. You dont wanna replace too soon, but the worst thing to do us replace too late (after mold and ceilings falling in).