Should You Upgrade The HVAC In Your Rental Property?
Have a rental property here in Atlanta? Upgrading your HVAC is beneficial for both you and your tenants.
Although property owners are conscious of every dollar they spend, upgrading your HVAC now before a major problem has its benefits.
It Saves On Repairs
This is the most obvious. New equipment works. It won’t fail at the least opportune times. And nothing can be more frustrating for a landlord than receiving a call in the middle of the night that the HVAC system stopped working. Emergency calls cost you more money.
The older a system gets, the more money it will need to stay functioning. And if we receive sudden bursts of cold or heat, it can put undue stress on old, inefficient equipment. With all equipment, schedule regular maintenance visits to ensure equipment is working at its optimal levels. Then heed the advice and replace on your time, not based on when an emergency dictates.
It Makes Your Property More Rentable
Renters today care about the places they are moving into. Just because they are renting doesn’t mean they don’t watch how much they’ll spend on utilities. When comparing two places, they will most likely take the one that promises them lower utility bills. And if you get a new efficient HVAC system, you’ll likely attract renters because of the improved air quality too.
It Increases Your Potential For Profit
For all landlords, it’s always about the bottom line. The thought of installing new equipment can have a landlord seeing dollar signs flash before their eyes. But the money spent on a new HVAC system can often change your dollar expenditures for every month. Repair bills will go down. Your utility bills may be lowered too.
Because people want more efficient places, you can charge a premium for your monthly rent. A greener, more efficient system is something people will pay for. And the difference between your expenses and your intake may be just the thing you need for a healthy bottom line.
Are you ready to upgrade the HVAC system in your rental unit? One of our trained professionals can help you make the right choice for you.