Updated almost 3 years ago on . Most recent reply
Home Warranties for SFH long term rentals
Just wanted to better understand what some of your thoughts are on home warranties for SFH long term rentals?
Year 1 was covered by the seller and I have renewed mine for my owner occupied residence, but go back and forth on the value of one.
At the SFH long term rental I am referring to I have attempted to use it multiple times and multiple claims are denied or they are just irritating to work with.
Thank you for any and all input!
Most Popular Reply
- Real Estate Broker
- Cody, WY
- 41,447
- Votes |
- 28,238
- Posts
They sound like a good deal but they don't make money by paying out for repairs! If something breaks, you have to wait for the warranty company to approve the claim and schedule their approved vendor. The approved vendor is often a low-qualified and under-paid. In my area, an appliance tech doing warranty work gets paid about 50% of what he normally charges. He only maintains the warranty license because it leads to other work. You also have to pay a deductible for every warranty call. A lot of claims are denied because the warranty doesn't cover as much as you think.
Other than that, they're great.
- Nathan Gesner
