Things to know about high-rise residential HVAC systems
As the owner of an apartment complex or multifamily residence that includes utilities in the price you charge for rent, managing energy costs is imperative to the survival of your business. If utility expenses become too high, you don’t stand a chance of profiting from your rental property. You may even find that you can’t compete with larger operations because the utilities paid out for your apartments and duplexes exceed your budget and cause great financial concern.
Types of HVAC systems for your consideration
The type of HVAC system that you choose for your rentals depends largely on cost and energy efficiency. One expense is immediate while the other pays out in benefits over time. The 2 types you have to choose from are:
- Centralized heating and cooling means that the climate-controlled air comes from a central location such as a basement or mechanical room.
- Decentralized HVAC means there are separate units for each residence. The advantage of having this type of system is that if one unit goes out, not all units are affected. The downside is the expense of purchasing all of the individual units for each residence.
How to choose the best HVAC system
There are many factors that go into selecting the best HVAC system for your rental property. To better understand the process, we’ll highlight some of the more notable features to consider when finalizing your purchasing decision—that way, you’re getting precisely what you want to heat and cool your apartments, duplexes or multifamily rental homes.
- Cost: One of the first considerations is cost. You likely have a budget in mind to follow. Be sure to choose a heating and cooling system that helps you to stay within your budget.
- Size of building: Next, you’ll want to choose the size of the HVAC system that works for the entire building. It’s wasteful to install a heating and cooling system that’s too big or too small for your space. Plus, improperly sizing your HVAC system will also result in it breaking down sooner than it should.
- Energy: Lastly, you’ll want to make sure your HVAC setup is energy efficient. The initial higher cost pales in comparison to the amount of money you’ll save by choosing an HVAC system that maximizes efficiency. Factoring in a lifetime of savings makes it easier to buy a more expensive system outright.
How much HVAC Installation Cost
If you live in a single-level, two-bedroom home, you’ll likely pay less (all things equal) for your HVAC system than a family dwelling in a three-story home with five bedrooms. That’s right—the HVAC installation cost per square foot varies based on the size of the home it’s installed for. While few contractors will provide a price quote based on square footage, the average HVAC installation cost per square foot is between $15 to $18.
The following table breaks down HVAC installation costs per square foot for new construction homes.
$4,000 – $5,000
$5,000 – $6,000
$6,000 – $7,000
$7,000 – $8,000
$8,000 – $9,000
$9,000 – $10,000
How does central air work in apartments?
It’s really quite simple. Apartment air conditioning systems vary in size and function, but they have similar components. Central air uses refrigerant (a cooling substance) that gets cycled and pushed through ductwork and into the residences of your rental units. There’s one central system that supplies the cool air to all of the apartments or duplexes. So when there is a problem with this system, all residents are affected by the issue.
Process To Get HVAC Estimate Report
Here are some steps to get your HVAC cost estimate report.