heating

From: Gail H


Hi everyone,

How important is it to provide heating for tenants, and what is the best kind? I'm looking at a property to renovate, and its got one of these ghastly gas heaters in the lounge room - not the wall furnace type, but the ones lower down with the flame you can see. It really lowers the tone of the place. Would I pull it out (what to replace it with, if anything?) or just leave it there and renovate around it?

Gail
 
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Reply: 1
From: DB Bear


Gail

I can answer that as a renter with Thin Blood - Gas Heaters are very important in cold areas. If a property doesn't have a gas heater, I won't rent it. What this means for you is that everybody elses property will rent first and when people have no other choice, they'll rent yours - which could potentially mean a longer vacancy than if you had a gas heater. Given the high vacancy rates in Melbourne....

Deb
Melbourne Freestyler Co-ordinator
www.freestyler.net.au
 
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Reply: 1.1
From: Manny B


Hi Gail,

as Deb did mention, it is easier to rent out a house with a gas heater than one without one... but even if someone is forced to move in, when their lease is up, if they are not happy with the heating situation they would be looking elsewhere...

In one of my IPs, I'm in the process of gutting 2 wall heaters (the ones you described) as they have both had it & installing central heating (actually keeping one dead heater in the fireplace for now just for looks, plastering over where the other one was installed, doing it all myself). My tenants are extatic, but for me, the cost of the central heating is less than getting 2 new wall units, which don't heat the entire house (as it is a big house)... Central heating is only costing me $2,400 (basic 3 star Vulcan unit), but with depreciation & hopefully hang on to the tenants for longer &/or find new tenants quicker in the future, it would pay itself off for me in no time (note: to get an equivalent new wall heater that blew up would cost $1,500 each fitted, making it non cost justifiable)... note: the new central heating comes with a 5 year parts & labour warranty (10 year on other major components, parts only), unlike many of the wall ones that have just a 1 year warranty (the ones I saw anyway)...

Cheers,

Manny.
 
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Reply: 2
From: Rachel Freedman


Depends where you are! In Canberra heating is a MUST and for many people central heating is a must before they will consider a place to rent. Also if the heater is old they are expensive to service and you could quickly run up dollars on service/repairs.

Mind you if if it was in Syd I would not put central heating in.

Rachel
 
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Sim

Administrator
Reply: 2.1
From: Sim' Hampel


Bah ! Heating ? Who needs heating ? Just move to Adelaide... all the heat you could ever want !

... well, at least in summer anyway.

;-)

 
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Reply: 2.2
From: Robert Forward


Hi Gail

Get in touch with the your gas/electricity suppliers. Some of them do incentive deals to install heating/cooling now that they have been deregulated. I think it might have been Michael Croft (may not have been though) that mentioned a month or so ago that these companies are doing installs for free and everyone qualifies for the finance. Of which they run over 2 years or so and it doesn't hit your Credit Rating.

It may be a great way of getting a new heater/air conditioner installed and delay payments over a time period, in the mean time you can pick up a higher rent to actually pay for the equipment.....

Just a thought.

Cheers,
Robert

Property Inspection Reports @
http://www.creativefinance.com.au

The Sydney "Freestylers" Group Leader.
 
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Reply: 2.2.1
From: E L


Yes I think it was Michael Croft who mentioned that at the Sydney reno seminar. Sounds like a good deal to me.

Cheers
EL
 
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Reply: 2.2.1.1
From: Robert Forward


I knew I heard it somewhere.

See just that bit of information was worth the dollars to go to the Renovation Magic seminar.

Cheers,
Robert

Property Inspection Reports @
http://www.creativefinance.com.au

The Sydney "Freestylers" Group Leader.
 
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Reply: 2.2.1.1.1
From: Tibor Bode


Hi,

I installed for free (albeit it cost me around $1500) with 2 years interest free a gas water heater when our electric heater went bust. The gas company just adds it to the quarterly bill, and I enjoy it for over 1.5 year now and will soon pay it off.

Basically I was happy with the deal. I am pretty sure with the electricity supplier deregulation more goodies will come to consumers who wish to flick the current supplier.

Tibor
 
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Reply: 2.2.1.1.1.1
From: Duncan M


Was this for a rental or your PPOR? Has anyone had a Gas Heater installed in
a Rental with the billing taking place via the PPOR gas bill?

Duncan



-----Original Message-----
From: propertyforum Listmanager
[mailto:listmanager@bne003w.webcentral.com.au]
Sent: None
Subject: heating


From: "Tibor Bode" <keygate@presto.net.au>

Hi,

I installed for free (albeit it cost me around $1500) with 2 years interest
free a gas water heater when our electric heater went bust. The gas company
just adds it to the quarterly bill, and I enjoy it for over 1.5 year now and
will soon pay it off.

Basically I was happy with the deal. I am pretty sure with the electricity
supplier deregulation more goodies will come to consumers who wish to flick
the current supplier.

Tibor



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Reply: 2.2.1.1.1.1.1
From: Michael Croft


Hi,

It depends on your supplier but both the gas and electricity authorities have various interest free deals going. They sometimes want a direct debit set up or will add it to your bill. Most don't care if it's an IP or a PPOR.

The potential advantages are; higher rent, more depreciation, interest free loan, doesn't get registered with CRAA (it didn't last time I looked but may be supplier dependent), warmer/happier tenants.

warm regards,

Michael Croft
 
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Reply: 2.2.1.1.1.1.1.1
From: Simon St John


Hi!

Thank's to Michael, I inquired about this for the IP I am building to install an air conditioner..

12 months interest free (not as good as 2 years I hear you can get with some suppliers but still "free money" and the benefit of air conditioning.

Thanks Michael!

Simon
 
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