Hi JBC,

I’ve been looking at installing one of these heat pumps in my own home as the running costs are significantly less than a conventional hot water unit. After reading Steve’s books, might I suggest that if you do go through with the Heat Pump, you can speak with your tenant to let them know that running costs will be far less, therefore they will save in electrical costs, but you might add that you will have to increase the rent by $10 pw – so realistically your costs are covered in 5 years. I do also believe that the cost of the heat pump installed is tax deductible on an IP. Someone correct me if I’m wrong but I do also believe I’ve read this in Steve’s book.

As for filters, make sure you’re on top of things and have them changed as required. Don’t leave it to your tenants.

Hope this helped.

*Edit: I feel like I wasn’t clear enough – but what I was getting at was that you’d make the tenant a whole lot happier by reducing their electricity bill, so you could negotiate an increased rental price to eventually cover the cost of the Heat Pump.

• This reply was modified 9 years, 4 months ago by  corynator.