HVAC systems are an essential part of any property. If you are considering an investment property, hopefully, you are already connected to air conditioning companies in the area that can help you inspect the property. As a landlord, not having an operational HVAC system can not only be costly to repair or replace, but it can result in property fines and income losses.
Unlike cosmetic flaws that can be repaired easily, a faulty HVAC system can require a new heating and cooling unit that can really ring up costs, especially for large investment properties. Before you sign on the dotted line, learn more about the HVAC system. For example, is it a central air conditioner with gas heat, is the system totally electric and has it been maintained?
Whether you are dealing with a partial air conditioning system or another type of system, it is critical to fully understand what you are getting into. Learn about HVAC technician capabilities in the area and what potential costs you may be facing by having a certified HVAC technician inspect the system. These experts can help you to make informed decisions about the property.
How old are the HVAC systems in the units that you are considering purchasing. A previous owner who has kept meticulous record of the work done by heating and air conditioning contractors will be able to tell you the exact age of any unit. With professional and proper maintenance, a new HVAC system has a lifespan that averages 12 to 15 years. Knowing how old a system is can help you predict and budget for any future replacement costs.Making the decision to invest in rental properties can be a profitable venture. Without careful thought to some of the most expensive parts of these homes, however, the properties can come with unexpected repairs and replacements. For this reason, many rental property investors make sure that they purchase properties that have well documented installation and service records for all of the heating and air conditioning units. Knowing as much as you can about the HVAC systems in any rental property that you are considering purchasing can help you make the best investment decisions.
- Vandals can play a costly role in the HVAC systems of rental properties. In a quest for copper piping that they can sale for quick cash, for instance, both thefts and vandals can create costly repair situations for many rental property owners. For this reason, many rental properties now have both their HVAC units and sprinkler systems fenced and locked.
- Air conditioning can be extremely inefficient if it is not closely monitored. If a rental property owner includes the heating and cooling costs in a property they are able to make comparisons to previous heating and cooling bills. And while it may seem more economical to let the tenant pay for the air conditioning that they use, if a property owner never sees the monthly bills they may not be able to notice an entire unit’s higher bills. An increase that could serve as an indicator of a minor problem that could be fixed before it becomes a major issue.
- Calling on tenants once every six months to change the heating and cooling filters is one way that property owners can get a visual inspection of apartments, condos, and town homes.
- Seeing to the needs of heating and cooling systems to plumbing needs, property owners who take care of their rentals easily fill their vacancies.
- You often get what you pay for. If you invest in a more efficient HVAC until you will often see substantial savings down the road.
- Service calls can help a heating and cooling system run more efficiently.
- Talking to your residents about their heating and cooling use can often help you communicate about the upkeep of the entire property.
- Even installing a programmable thermostat can save the average home owner an estimated $180 every year in energy costs.
- Maintenace is an important part of any rental property budget. Paying for maintenance can help avoid expensive HVAC repairs down the road.
- Seeing to the comfort of your renters may improve their care of your property.
- Filters on some of the newest HVAC systems should be changed every three months.
- One way to reduce energy bills by as much as 10% to 12% is to insure proper attic ventilation.
- Rental properties can produce significant income if all systems, including HVAC, are properly maintained.
- Researching the newest and most efficient heating and cooling systems may be worth your time. Although they can require a substantial investment, they often start paying for themselves immediately with lower monthly bills.
- Eventually all HVAC units need to be replaced. Scheduling these replacements can help you better budget.
- Never ignore a problem. Even if a tenant concern about a heating and cooling issue may seem costly, it is likely less expensive than paying for future more extensive problems.
- There are an estimated 85,469 HVAC businesses located in America. All of them provide both service and maintenance contracts for rental properties.
- Allowing your renters to join you in the routine maintenance rounds that you make at rental properties can help you communicate to your tenants that you are willing to make investments in the properties that you rent.
- Letting your rental property profits evaporate with the unnecessary replacements of a heating and cooling system that has not been properly maintained is a waste.
- Some of the most profitable rental properties are the best maintained properties.