Should landlords purchase a home warranty?
I don’t think a home warranty is a good idea for rental property. As a matter of fact, I won’t even manage a property with a home warranty.
Home warranties may be okay for home ownership, but with rental property, I don’t think so.
The service industry is dead. These days you’re probably talking to a computer or bot or some person in a faraway land.
If a tenant has a problem, especially an urgent problem, they want service now.
We recently had a resident call us with an air conditioning issue. Of course, they call us at 5:15 on a Friday night.
Their AC was out. We’re in Florida and it was a zillion degrees in the house. We had the AC fixed the next day.
Could this have been resolved this quickly with a Home Warranty program? Not in my experience.
And who is the home warranty company going to be sending? Will the system get repaired properly or just a band aid to lower their cost? I don’t know.
I don’t want to go through the process of making a claim to a Home Warranty company and be at their mercy.
Let’s go back to our resident with the AC problem on a Friday night. By fixing their AC problem the next day, do you think this resident is grateful and is going to renew their lease? You bet.
When there’s a problem, contacting a Home Warranty company, and going through the process of filing a claim, does not sound like a good time to me.
Bottom line, if you have a Home Warranty company who can get the job done right, consider going with a home Warranty. With us, we stay away from them.
I hope this helps. If you ever need property management or any help with your property, please contact me. My name is Michael Bielon and I’m always here to help with your property.
Thanks for watching.
