Property with electric baseboard heat : ezLandlordForms

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Michelle L

started a topic about 13 years ago

I am a new investor - I just bought a home with electric baseboard heat - I should have the property up and ready to rent in about 4 weeks. My question, we live in Ohio and I am worried that electric heat my be harder to rent out or too expensive for a long term tenant. I can switch to a heat pump which will give a/c in the summer for $5500. I would rather not invest the money, but could if I had to. What are your thoughts?

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Donna

said about 13 years ago

Advertise it and see what happens. I personally think that you would be better off reducing the rent initially if you do not get any bites rather than making the large investment. There are good things about upgrading as well such as the tax benefits/some electric suppliers will offer rebates for energy efficient system...... but if you are not ready for this type of investment right now, try renting it as is and see what happens.

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Alicia B

said about 13 years ago

Rent as is. Most people have no idea how expensive it is to run baseboard heaters. Worse that can happen at the end of the lease is that they're moving because of heating costs at which point you can make the investment if you have good tenants and want them to stay!

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Michelle L

said about 13 years ago

Thanks for the advice - I have decided to rent it as it - maybe a little lower rent ($25 or so) and see what happens - you are right, if I like my tenants and want them to stay and it becomes an issue - I can switch it later.