In previous articles, in this series and prior, we’ve advised that there are things that your investment property will require personal attention. Be it truly personal attention or you making a point to personally see that your property management company handles, certain tasks can’t fall through the cracks. The success of your investment depends on it.
There are vital maintenance tasks that fall under this header. HVAC (heating, ventilation and air condition) can truly be a headache if not properly maintained. It’s not something that if it’s forgotten, when it malfunctions you can run down to your local hardware store and pick up another one. The average HVAC system for a home can be anywhere from a couple thousand dollars to a few thousand. If your investment property contains multiple units, the costs multiply, accordingly.
Manufacturers (specific to the unit you choose) provide recommendations for a professional maintenance schedule and owner/tenant upkeep for maximum life and efficiency.
For professional maintenance:
- Both the furnace and the A/C should receive an annual checkup and tune-up from a qualified HVAC technician (*before the heating and cooling seasons begin, respectively).
For the homeowner/tenant:
- Just as important as annual, professional maintenance is proper care throughout the year.
- There are things that may require property maintenance to complete or the tenant, depending on the lease agreement, that will keep the HVAC operating at maximum efficiency in between annual maintenance. They include: Change the air filter monthly; keep shrubbery and other vegetation at least two feet away from the outdoor A/C unit’s vent openings; remove any debris, such as leaves or grass clippings, from the outdoor A/C intake and exhaust vents; pour a cleaning mixture and water into the air conditioner condensate drain pan once a year during the cooling season; and install a new battery in the carbon monoxide detector every year.
It is much easier and cost effective to factor in predictable maintenance expenditures. In fact, they’re a bargain compared to unexpected exorbitant repair bills or long-term spiraling operating costs because of replacement. It is your investment. Protect it!
