Over the past few years our predictable Melbourne weather has been anything but predictable with drought turning to heavy rains followed by high humidity akin to Northern Queensland. This has significantly changed the way prospective tenants prioritize their list of “must haves”.
Air Conditioning is now high on their list of priorities, particularly at this time of year when Melbourne temperatures soar. While you may not recoup the initial outlay for air conditioning immediately, as it does not increase the rental value significantly, it will certainly ensure the property is leased or re-let in a shorter time period of time thereby increasing the net return on investment.
With 2010 having just been declared the hottest year on record it may be time to consider your options regarding providing year round climate control.