That doesn't look like any of the cages I use!! (I can't tell if that's a cage in the photo left edge or part of the unit)
Our cages are heavy hardened steel bar (1/2") verticle and horizontal in a mesh (You can not push your hand through it) and is anchored at 10 to 12 places on the wall (Anchors) and may have 8 to 12 anchors drilled into the pad and have #6 3’ - 1" steel stakes driven into the ground and the cage has about 18" of clearance all the way around to prevent reaching through and tinkering with the unit!
They have padlocks in a tamper proof box that when freed allow the two sides, top and front to swing away / swing up for servicing! The cages I use cost me a little over $1.5k installed and I guarantee no thief has the time or energy to cut into it in any quick fashion! It’s custom made and welded in place on site, painted white, Black or any other color I suppose!
Also try to find a video camera set up with a concealed wireless drive and aim the camera’s at your trouble spots, I put actual stickers on my windows and gates announcing the property is monitored by video and wireless alarm system!
The wireless alarm system cost’s about $200 - $250 and sends a signal through Verizon, AT&T, Sprint, Etc.
For properties without power use a deep cycle battery with a solar electric recharging panel you can locate the unit inside and battery / charger in an attic, crawl space, or cabinet and pull temporary wires to your unit!
Yes, I bought a house and repaired it where they stole the cooper. The thieves came back and hit the ac unit 4 different times within a year :banghead. The tenant in it now brought his window units. It is a small 2 bedroom 1 bath house and the rents are approx $700 a month. I currently have the house under contract :smile. I am taking a $2,000 loss on the property. I figure I can invest the money else where and make up for my losses. It has been a hard lesson on my first flip-flop, although I do see better days :beer!!!
I have bought several properties without A/C units - I always pay cash for them and buy on an as-is basis though - and I install the condenser (outside A/C unit).
I would just shell out the cash and get it fixed before you sell it or rent it out. You would turn away too many buyers or renters if they toured your house and saw an A/C condenser sitting there in pieces. BUT put a burglar bar cage around it…that’ll keep away the copper thieves.