It’s important for the business owner or manager to understand an HVAC maintenance contract and the coverage you expect to receive for the cost of the service.
We’ll try and help you sort out HVAC maintenance differences so that you’ll better understand the prices, terminology and types of service.
This type of contract will allow for regularly scheduled visits for diagnostic testing, servicing and replacement of parts (where needed). Regular maintenance will keep your HVAC equipment running at peak efficiency, lowering operating cost while increasing the life-expectancy of the equipment. Preventative Maintenance Agreements are the least-costly of service contracts.
This contract includes regular maintenance servicing of HVAC equipment and it also covers the cost of any labour required. Full Labour Agreements do not cover the cost of replacement parts.
Although this is more expensive than the aforementioned contracts it does include regularly scheduled servicing, labour costs and includes the cost for any parts needed as well as emergency service when your HVAC equipment breaks down. A full labour contract will cost more if the HVAC equipment is old or in poor condition. This contract is the most expensive but it is full-service and will pay for itself when you need expensive repairs. It also allows for easy budgeting when accounting for HVAC maintenance/repairs.
There are a number of factors that can affect the price or quote for your HVAC maintenance contracts.
The cost for HVAC maintenance can vary depending on your HVAC system. As you’ve learned there are mitigating factors that will increase or reduce the cost for servicing HVAC equipment.
It’s vital to understand what you’re getting for the price you’re paying. When comparing HVAC Maintenance Agreement quotes here’s a simple formula that can help understand what a company is offering.
Price of Contract ÷ Hourly Rate of Service = Hours of Service for Maintenance
Hours of Service for Maintenance ÷ Number of Yearly Visits ÷ Number of HVAC Units/Equipment = Time Spent on Each Unit/Equipment
If a contractor is quoting a very low bid compared to competitors it may be that the time spent maintaining your equipment is unrealistic or inadequate.