All Forum Posts by: Jeffrey VanGilder

I would think it would vary on electrical rates. From the sound of your post it seems the space has electric baseboards. I wouldn't let that stop me from buying this rental. I feel like personal I would rent an apartment with electric heat but not on a long term basis. This is my opinion and would just plan for more turn over. I do know some people who actual prefer to have this type of heat because most rooms have their own thermostat and can actually save money by lowering the temperature setting in rooms not being used and raise them in rooms that are occupied. Also, you can think about installing ductless heat pumps to replace the baseboard heat. This will add air conditioning to your list of amenities. As a licensed HVAC contractor I can tell you it really depends on your electric rates, if rates are low its a selling point. If rates are higher it would be a reason for me to make an improvement going with a heat pump. I am new to real estate investing but know that you have plenty of directions you could take this issue to make it a plus for you and your potential property.