I continue to be surprised by the number of investors who, after purchasing a property, discover it does not contain air conditioning. In our modern civilization, unless you are blessed to live in just a very few areas of the country that maintain dry air and temps that don't exceed 80 degrees, would you live without air conditioning?
In our markets of Indiana and Florida, in my opinion, it is not reasonable to expect a tenant to survive with just a fan. In fact, in our guidelines for our vendors, it is considered an emergency if the air conditioning goes out and the daytime temperatures will be over 88 fahrenheit. With humidity, fans can't provide enough cooling.
The other factor is the damage to homes when their is no air conditioning. Humidity gets trapped and damages flooring and walls. If there is any sign of mold, watch how fast it grows under those conditions!
I know some of you own property in Indiana that does not have air conditioning. If the home is on the market to rent, or sell, during the next 3-4 months, consider bringing it up to the standards expected for comfortable living. We work with some great vendors who can get your property set with either window units or central systems. Your investment will be one step closer to maximizing its cash flow potential even after making this capital investment!
