How to fix the vcvarsall error on PyCharm?

I am on 64-bit Windows 7 SP1. I have PyCharm Community Edition 4.0.4 with Python 3.4.2. I want to install new packages in PyCharm.

In PyCharm, when I go to File -> Settings -> Project -> Project Interpreter I get a list of packages in the project, which initially has pip, requests and setuptools. pip and setuptools were very outdated so I updated them by clicking the little blue arrow on the right of this list. They are now pip 6.1.1 and setuptools 15.0.

When I try to install a package:

1. Click green plus icon


2. In the Available Packages window, select a package that requires a C compiler (eg. line_profiler)


3. Select it in the list


4. Click the Install Package button in bottom left

I get an error. If I look at error details, basically the relevant line is this:

    error: Microsoft Visual C++ 10.0 is required (Unable to find vcvarsall.bat).

Surely there is a way to fix this within PyCharm? I've seen that setting VS90COMNTOOLS can work but I don't understand where to type it in. PyCharm Python console? Options in the Available Packages window? Some other obscure option screen in PyCharm?

By the way, I have Visual Studio 2013 installed. I don't want to uninstall it or do anything else that will make it unusable. If possible I'd like to not waste space installing a whole IDE just for the C compiler, either (the "install VS2010" solution). The solution should not be VS2013 specific - or I'd have to come back again to ask the same question when VS2015 is released.