An appealing rental property is characterized by numerous desirable features, and many renters place a premium on having an updated, efficient furnace and air conditioning unit.
Like homeowners, renters highly value comfort and the ability to enjoy their space, regardless of the outside weather. As a landlord, recognizing and fulfilling these desires can significantly enhance the appeal of your property.
Enhance Resident Satisfaction
Upgrading a rental property’s HVAC system has multiple advantages, making the investment in a new unit a wise choice for long-term financial success. One of the key benefits for landlords with single-family rental properties is the happiness of their tenants.
Single-family rentals perform better when renters want to stay longer. If your residents are happy with an updated HVAC unit, they are more likely to stay beyond the initial lease term, saving you the time and cost of finding new residents.
Improve HVAC Efficiency to Save Money
Investing in a new HVAC unit isn’t just about immediate savings; it’s a long-term strategy to reduce your utility costs, whether utilities are included in the rent or not.
The investment in a high-quality HVAC unit may feel like a significant financial commitment, but it proves worthwhile in the long run. These systems generally have a lifespan of at least ten years, meaning the initial investment is recouped over time through energy savings, lower repair costs, and enhanced home comfort.
Choosing a durable and efficient unit will help you maintain stable climate control, while ensuring you’re making sound financial decisions for your rental business.
Take Advantage of Tax Rebates
Another advantage is the potential tax rebates available for property owners who upgrade to energy-efficient HVAC units. You can deduct up to 10% of the cost, providing a significant advantage at tax time. Combining this benefit with the other savings from an upgraded HVAC unit makes the investment a logical choice.
At Real Property Management Greater Milwaukee, we help landlords with property maintenance and HVAC upgrades to keep Brookfield rental properties in top shape. Please contact us online or call us 262-309-6961 today to learn how we can support your rental success.
Originally Published on June 22, 2018
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