A/C Unit Died @ My Dallas Rental - What would you do?

[Account Closed]

It finally happened.  Just closed on my first property in Dallas and one month in - the A/C died.  Can't blame the inspector too much - he notated that the unit was 20 + years old but didn't actually run it because it was inspected in Winter.  Hoping for some insight on the best course of action.  

Option One:  Hire a local Dallas A/C company called Strike Force to replace 2 condensors, 2 coils (the property is a duplex and the front house units are just as old and it sounds like proactively replacing them is the right move).  They have quoted me $12,000. 

Option Two:   Buy the parts on Home Depot and find someone on Angie's list or HomeAdvisor to handle the install.  Should save at least $3,000 this way. 

Option 3:  Do Nothing.  Advertise the house as a Bikram Yoga studio and start raking in the big bucks.

If anyone has a quality A/C guy that you trust - please pass along their information : )

[Michael Lee]

I tend to agree with what Amy said.  Getting several bids from local contractors, and using good materials from a manufacture that has a good record should be a little less and, since you will be spending good money, get a decent warranty.  One alternative would be to install some window units  and possibly lower the rent while you save up a reserve.  Another alternative would be to sale the unit in this seller's market to, hopefully, get your money back that had to be spent and go on down the road.  I'm sorry, but since you are in Dallas there should be many competitors that should help out to get your price lower.  I like the idea of replacing over repairing.  You would think I was born in Dallas over 61 years ago that I would have someone to recommend but it is so far typically rare that I do not have any recent experience that I just do not.  Just a side point and that it might be a little educational for long term investors, my father built us a house in Lake Highlands back in about 1961 for $26,500 for a 4 bedroom house and is now for sale at $610,000.  Best wishes!