Condo HVAC Shortage & Price Increase In Toronto, Ontario - 2021 & 2022

·4 min read

TORONTO, ON / ACCESSWIRE / August 1, 2021 / The HVAC industry has been undergoing several short-term HVAC shortages. But before any manufacturer can help resolve the HVAC shortage situation, condo owners should first understand why the current HVAC problem exists.

Condo Heating & Air Conditioning Part & Equipment Shortage

There is a general perception that a shortage of HVAC equipment such as Condo Heat Pump, PTAC, Fan Coil, Heat Exchangers, Furnaces, Condensers, Compressors, Air Handlers, Package System, Magic Pak, & HVAC Parts can occur any time due to high demand during Summer & Winter 2021-2022. According to industry experts, the HVAC Shortage situation can be attributed to the lingering effect of a global pandemic, which leads to higher-than-normal price increases in HVAC raw materials, transportation, costs of goods and other components.

The global pandemic has caused a slowdown in numerous industries. Factories got shut down and production lines were limited. Once the employees were back in the workplace, the production did not begin at full capacity. Therefore, just like food and lumber shortage, we are now seeing a shortage of Building HVAC supply in Canada & the rest of the world. To rectify this situation, HVAC companies & distributors are looking for possible alternative solutions to offer during the high demanding times in summer 2021.

In addition, due to lockdowns, most property managers & condo boards ceased or postpone semi-annual summer & winter Condo HVAC Maintenance to protect the building residents from spreading the virus. Lack of proper maintenance in the past year also caused frequency of service calls and sudden heating and air conditioning break down in condos.

What homeowners can do? Well, the short answer is Communication.

Make sure you find out the age and condition of your in-suite HVAC system. Get proper assessment done on your equipment. This can be done by setting up an inspection for annual maintenance during transitioning months such as April & May or September & October.

Always ask your contractor about the Replacement Option, Availability, Price & Life Expectancy of your existing equipment. If you live in a condo, you may only have less than a few options to replace your existing in-suite condo air conditioning & heating unit.

For instance, Condo Heat Pump or Fan Coil units are uniquely designed for your suite. As a condo resident, you must abide by your condo requirement if you are planning to retrofit or replace your old fan coil, water source heat pump, PTAC Unit or gas-fired system. Always ask your trusted condo HVAC technician about prices, installation duration, availability and lead time on a new replacement unit.

Use the Market to Your Advantage

Some HVAC dealers, contractors and manufacturers offer additional rebates, incentives and promotions during an uncertain time. So being proactive may turn in your favour. In addition, while we are witnessing an increase in prices due to inflation you may end up paying a premium price during high demand times.

Notification of Price Increase – Effective Aug 2nd, 2021

The pandemic has put global pressures on heating and air conditioning manufacturers. Over the past 6 months, we have seen the cost of a full container of product from China to Canada increase from $4000 to $25,000 USD as of this notice.

There are more increases expected to come in the coming months as demand continues to rise and the supply of containers to be crunched. This impacts the overall costs of a single condo heat pump, PTAC, fan coil and package units. Condo HVAC manufacturers such as OMEGA, Whalen, Daikin, Unilux Fan Coil Retrofit, Applied Comfort, Condo Pack, Johnson Control have announced price increase in the next coming months.

This price increase will be between 5% to 25% and will affect costs of part and labour in the upcoming months.

About Home Trade Standards

Home Trade Standards is a TrustedCondo HVAC Company Offering In-Suite HVAC Services (Heating, Air Conditioning & Ventilation) For Low Rise & High-rise Buildings in Toronto & GTA Area. Our services are used by Condo Boards, Property Managers, Superintendents, Landlords & Tenants.

Home Trade Standards Services have been designed to assist the needs of each community. We understand that each building has a unique culture and vision. If you are on the Board of Directors and are looking to hire an experienced Heating & Air Conditioning Company for your Condominium Corporation, please contact us by email or simple phone call at 416-736-7001. All inquiries are regarded as confidential.

We Work With Property Managers & Individual Condo Owners

Home Trade Standards has Working Experience With Del Properties, Wilson Blanchard, Crossbridge, Menres, Goldview, ICON, Plus Properties, Performance Properties, City Tower, TSE Management Services, and many other well-known Property Management Corporations in Toronto & GTA. For more information regarding our experience, license and services, please contact us today!

You can learn more about Home Trade Standards by visiting their website www.HomeTradeStandards.com.

CONTACT:
Service@hometradestandards.com
2300 Yonge St #1600, Toronto, ON M4P 1E4
(416) 736-7001

SOURCE: Home Trade Standards



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