A typical lease will require the lessee, tenant, to keep in good order, condition and repair all equipment, such as the HVAC equipment. So why would a property owner worry about having a system in place to make sure the tenant is keeping the HVAC “in good order, condition and repair”?
While in most cases it is the tenant’s responsibility to keep the HVAC system operational and in good condition the ownership of the HVAC system typically remains with the property owner. As such the HVAC system will remain with the property for several years and potentially several tenants. With each new tenant requiring the current HVAC system to be in good order, condition and repair prior to taking possession. While an annual HVAC inspections should be done at a minimum, it is most beneficial to have the system checked every six months. This will increase the lifespan of the equipment, improve performance, reduces costly repair issues, and maintain the warranty.
Inspections typically cost $100 to $200, in some cases a little more. New equipment can cost $5,000 to $10,000 or more. Preventive maintenance has proven to increase the lifespan and improve performance of the equipment. Postponing the expensive cost of HVAC installation.
The HVAC system has many moving parts that need to function together and run properly. Having the system inspected is less expensive than repairing or replacing the system. It is estimated that regular maintenance can lower the chance of expensive failures by up to 95%. You most likely wouldn’t drive your car 50,000 miles without changing the oil. This analogy applies to your HVAC system as well. Most HVAC manufacturers require proof of annual maintenance when a repair claim is submitted under warranty. Some of the components of the HVAC system are expensive, so making sure this maintenance is done and keeping the warranty coverage can save a significant sum if something does go wrong.
Perhaps one of the most important benefits is provided by Minnis Property Management – Peace of Mind. We follow up with each tenant to verify that one of the more expensive equipment items of your property is being inspected and maintained “in good order, condition and repair”.
Contact us to learn more about the benefits we provide for each of our property owners.