Considering HVAC Upgrades? 5 Reasons Why Now

Current conditions created by the pandemic make “no time like the present” especially true for HVAC capital improvement.

Is now the right time to make a significant capital investment in your building’s HVAC system? Most likely because:

  • Recent tenant demand for improved HVAC filtration and ventilation
  • Low current interest rates

So why hesitate? Low occupancy rates and a raging pandemic may cause many building owners and operators to be wary of jumping into a major capital expense. Conversely, low occupancy rates in tenant-occupied commercial buildings creates a good environment for capital improvements.

new DOE efficiency standards for commercial hvac equipment

Here are five main reasons that the time is right for facility managers to seriously consider HVAC capital improvements right now:

1. Finish in less time. Wholesale improvements can prove more successful without tenants or at reduced occupancy. With fewer bodies to heat and cool and work around during equipment installation and temporary power outages, capital improvements will be logistically easier and likely will take less time to complete.

2. Low interest rates – Cheap money makes facility renovation investment go a lot further. This may be your chance to complete the repairs you previously thought you couldn’t afford.

3. Tenant demand for improved HVAC – As tenants return to work, air filtration, ventilation and purification will be top of mind. Businesses with existing leases will demand proof that it’s safe to bring their employees back to the office. Businesses considering new leases may be even more demanding.

4. Go green opportunity – While working from home is the rage right now, and some businesses have even pledged it to their employees for life, real estate experts across industries say we are more likely to see a shift in office needs, layouts, and amenities over time rather than total withdrawal from commercial office real estate. Once businesses return to the office, they’ll be looking to re-enter healthier facilities. Rehabbing your HVAC system now will give you the competitive advantage you need and the opportunity to chase green building standards you may not have thought feasible before. USGBC LEED and WELL certification will help your building stand out among the healthy and environmentally sound options around town.

5. Energy efficiency & operational cost improvements – New HVAC systems and renovated infrastructure always provide an opportunity to reduce energy expenditure and, therefore, operational costs. Over the next four years, oil, natural gas, and electricity prices may be more unpredictable, and as a result, it may prove more advantageous to reduce building energy use today.

But…all capital improvements opportunities are not created equal.

Read More – FacilitiesNet