An appealing rental property includes a variety of features that renters value, including an updated, efficient furnace and air conditioning unit.
Like many homeowners, renters value comfort and the ability to enjoy their living space, regardless of the outdoor temperature. As a landlord, understanding and addressing these desires can enhance the appeal of your property.
Enhance Resident Satisfaction
Upgrading a rental property’s HVAC system has numerous benefits, and the investment in a new unit is one of the best financial decisions you can make in the long run. One of the key benefits for landlords with single-family rental properties is the happiness of their residents.
When renters want to stay for extended periods, single-family rentals become more profitable. If your residents are satisfied with an updated HVAC unit, they are more likely to stay beyond the initial lease term, which means less hassle and cost spent on finding new residents.
Improve HVAC Efficiency to Save Money
When you invest in a new HVAC unit, you’re not just making a quick decision for savings. It’s a long-term strategy that can reduce your utility costs, whether those are included in the rent or not. Choosing a high-quality HVAC unit may be a financial commitment, but it typically proves worthwhile in the long run. These units have a lifespan of at least ten years, meaning that over time, your initial investment will be returned in the form of energy savings, reduced repair costs, and increased home comfort.
By investing in a durable and efficient unit, you’ll ensure long-lasting climate control while making sound financial decisions for your property.
Take Advantage of Tax Rebates
There are also potential tax rebates available for property owners who choose to upgrade to energy-efficient HVAC units. You can deduct up to 10% of the cost of the unit, providing a significant advantage at tax time. When combined with the long-term savings an upgraded HVAC unit provides, this investment becomes even more attractive.
At Real Property Management Lakeshore, we assist with property maintenance and HVAC upgrades to optimize Fox Valley rental properties. Contact us online or call 920-305-7077 today for expert guidance.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
