Whether you bought a home to fix and flip or own a rental property in St. Paul Minnesota, most investment properties need furnace and A/C repairs or replacements. When weighing repairs versus a new HVAC in Minnesota investment property decisions, consider tax advantages and tenant satisfaction to reduce turnover. Your tenants are more likely to stay put and pay higher rent if you keep their utility bills lower with energy-efficient, quiet and clean systems.
If you are trying to sell a home
Having a newly installed HVAC in Minnesota homes for sale increases the market value. A property appraiser will note that the home has a new furnace, A/C or water heater. You can also include the information in a real estate listing. If you need to pass an inspection to sell your home, rely on professionals to maintain the existing unit or install one that will appeal to potential buyers and satisfy the home inspection criteria.
If you are trying to lower taxes
As a landlord or rental property owner, you do not necessarily pay the utility bills. At the same, you receive tax benefits by maintaining and upgrading the air conditioning and heating units. If you want to include a deduction on your itemized taxes, list any money spent on A/C or furnace repair or maintenance. Any money spent on new furnaces, A/C units or water heaters is tax depreciation, which also lowers your taxes.
If you want several benefits
When it comes to the pros and cons of new systems versus repairs, it’s not always a clear answer. A potential buyer or renter will not necessarily prefer a new unit over a well-maintained system. At the same time, virtually any money you spend on improving and maintaining your investment property will translate into tax savings and higher tenant satisfaction. It’s also greater peace of mind for you knowing you won’t receive complaints from tenants or deal with a real estate deal falling through over heating and cooling complaints.
At Metro Heating & Cooling, we offer excellent warranties on our HVAC systems, which helps homeowners as well as rental property owners. We maintain our same prices through the seasons. For questions about HVAC in Minnesota including repair and replacement, please contact us.