Rental property is a huge responsibility on the owner. The tenants want everything utterly perfect, whether it is the construction, accommodation, maintenance etc. Especially when it comes to installing heating, ventilation, and air-conditioning (HVAC) systems, you face a greater responsibility and a troublesome situation. When an HVAC system component gets out of order, the rental property owners have to take careful steps to make the facility available for tenants at an affordable price. These rental management issues may be solved easily and quickly if you contact a company mainly working to solve such problems.
The HVAC companies can provide all relevant information to rental agreements. They have several tips to solve such issues while knowing all about the responsibilities of the property owner and the tenants. Have a look at the suggestions by an HVAC company in Florida given below:
1. The basic things
Get knowledge about the terms and conditions of the clauses in the lease agreements. Then go through some basic things about heating and cooling before any commitment.
- Heating: Set up a system that signifies what kind of heating system will be provided in the given property. The warranty must be implied in the rental units.
- Ventilation: Ventilation is one of the essential requisites of habitability that is often not given that much importance. The negligence can later be proved a costly mistake. Improper ventilation may give rise to several problems such as wood rot, fungus, infestation, pest etc. A ventilation system must be, installed appropriately particularly in areas with a humid climate.
- Air Conditioning: In most areas of the United States, the air conditioning system is not a part of rental agreements. In certain regions where the temperature gets considerably high, it may depend on the deal between the property owner and the tenant about installing air conditioning systems. The tenants, however, have to pay themselves to enjoy this facility mostly.
2. Choose the system
There are many ways to choose the best HAVC system. There are different types of HVAC systems available in the market the common
- Split vs packaged systems
- Furnace vs heat pumps vs Dual Fuel for heating
- Ducts and Ductless system
HVAC system’s choice depends upon the area and accommodation of house. You can set the system according to the tenant’s requirements.
3. The HVAC system should have a warranty
HVAC is a heavy system, and it should be installed one time in 27 years according to its life. The best systems are installed once in 27 years, so you should be aware of the warranty program while buying an HVAC system. Invest your money into a warranty program. If you get a warranty period while purchasing, it will come with a schedule of maintenance. While purchasing, keep in mind the warranty and negotiate to buy a warranty program with a maintenance plan.
4. Points to keep in mind while purchasing
While purchasing a HVAC system, you should keep some points in mind to avoid trouble in future. Always be careful while buying such heavy-duty functionalities.
- Map out the system, call some engineer or HVAC contractor to help you while purchasing
- Age of units is important; determine it
- Ask the company about previous maintenance logs
- Create a capital budget, do not go for a cheap one
5. Tax recognition
If you are a landlord, you should prepare yourself for the upcoming expenses. You have to make improvements and have to reserve some budget. You must know all the expenses before renting anything.
- After installation of HVAC you have to pay more taxes. These taxes include HVAC maintenance taxes and repair taxes,
- Regular maintenance, repair and restoration is always needed.
Sometimes you need to replace the HVAC system due to faults; according to law, the system replacement is defined as capital improvement. Taxes must be set in order to compensate different services like repairing the wiring or sewerage, renovations or improvements in the buildings etc. Otherwise, being a landlord may be too expensive. HVAC renewal, repair or maintenance costs are charged from the tenant in the form of taxes that are predefined in the laws.
6. Determine and take the responsibility
Responsibilities can be divided among the individuals but, the condition is to just follow the rules and never violate the state laws. There are three ways to do so:
- Share the payments which allow you to split between payments. Hire some professional company to install the HVAC system and maintain it regularly. Then you can split the fees in the form of instalments if the company agrees on it. You can then work on your terms. Landlord may pay the payment for system maintenance, repair etc. The extra charges may be added in the rent.
- It’s up to you whether you take the responsibility of all types of repairs and charge for extra or you leave small repairs on the tenant. It is better to take responsibility for all types of repairs in case the tenant is irresponsible or negligent. If he is responsible and caring about things, then he can take the responsibility for minor repairs and you don’t have to charge him more. Otherwise put charges for extra hours and get the repair done
7. HVAC Maintenance
Every type of system requires a regular maintenance. The HVAC system is also subjected to a number of changes like weather effects, wear and tear with time and technical issues. Property owners should manage to inspect their property, including the HVAC system. It is better to take responsibility for all types of repairs in case the tenant is irresponsible or negligent. If he is responsible and caring about things, then he can take the responsibility for minor repairs and you don’t have to charge him more.
HVAC is one of the most important things when you have a property to rent out. Tenants prefer such properties having high quality HVAC systems and maintenance programs. You should not buy a cheap system because it will create problems in future. Purchase a high-quality HVAC system to avoid any trouble in future. Review all of the aspects while purchasing.