As a landlord, you will typically have a lot of expenses to cover over the years. Not only do you need to replace any broken appliances in your property for new tenants, but you also need to ensure that the property is in good condition.
HVAC units installed in rental properties can be a massive draw for tenants and might even allow you to increase the monthly cost. However, installing an HVAC unit to a rental property isn’t always straightforward.
Below, we look at what landlords need to know about adding an HVAC unit to their property. Read on to find out more and get some tips.
Understanding The Legality
One of the things that you should first consider before adding an HVAC unit to your rental property is the legality of this. There isn’t anything stopping you from adding an HVAC or AC unit, and most tenants will appreciate the addition of this kind of appliance, but there are some considerations to make. For example, in some states like Georgia, the landlord is contractually and legally obliged to maintain the AC unit if it was a working part of the rental, and this will apply if you have an HVAC unit too. In some cases, tenants can ask for a reduction in rent if a landlord doesn’t take care of the repairs. This is something that you’ll want to avoid, especially if you are relying on your rental income to continue living the lifestyle that you are accustomed to. If you aren’t willing to commit to this, you might need to rethink your decision.
Choose The Right Brand
If you do decide to invest in an HVAC unit for your rental property, you should make sure that you are choosing the right brand. Not all HVAC units will be suitable for your kind of property, and you could find that a cheaper model will do just fine. However, if you are planning on renting out this property for many years, you should probably consider investing a bit more in the unit. This way, you can ensure that it will last longer and you won’t have to replace it before the next tenant moves in. When choosing an HVAC brand, consider their reputation, the models that they offer and the price point. Some units will be bigger than others, but if the property is smaller, you won’t need a large system to cool or heat it. Don’t just choose the first model you find as this can be a big mistake and can cost you a lot of money.
Encouraging Tenants To Look After It
You may be legally obliged to pay for the maintenance on your new HVAC unit, but this doesn’t mean that your tenant can’t help to look after it. In fact, if a tenant properly maintains the unit, they can help you to preserve its life and reduce the risk of it requiring a service. Looking after an HVAC unit is much easier than it sounds, and it often just requires the tenant to change the air filters regularly. Why not encourage your tenants to buy air filters in bulk or use a subscription service from a company like Filterbuy? This way, they’ll be able to change them when they need to and protect it for longer.
Choose An Efficient Model
In 2020, a lot of potential tenants will be looking for properties that are energy-efficient, and that won’t cost them hundreds of dollars every single month on electricity and gas bills. The world is changing, and as more people become aware of their bad habits, they are seeking sustainable and efficient properties. For this reason, we suggest that you look for an HVAC unit model that is as efficient as possible. You might find that these kinds of models are more expensive than others but they can help you to save a lot of money over the years. If you plan on including the cost of HVAC in the monthly rent payments, you’ll want to this to be as low as possible to attract tenants. Consider an energy-efficient model, and you’ll reduce your carbon footprint over the years.
Consider These Tips
As a landlord, you must make sure that you are not wasting money on appliances that are not right for your property. Your tenants need to feel comfortable in the property; otherwise, they could end up asking to end their tenancy sooner than you had hoped. If you are considering adding an HVAC unit to your rental property, you should make sure to consider everything that we have mentioned here in this article. Once you are confident with your decision, you can start looking for the best model and inform your tenants of the change in advance.