Would You Buy a Home Warranty for out-of-state rental?
I have an out-of-state rental - its an older home (1915) - as expected, it needs maintenance. I never use a property manager because paying 10% of my rent proceeds just to answer the maintenance call (still have to pay for the repair!) seems crazy. I just take the call, call one of the fix-it guys or professionals (depending on what the problem is) and take care of the issue. BUT - this is a headache - I feel like I'm scrambling to find the right person to solve the problem. I was thinking that a home warranty might work out nicely -- as I can make one call and let them deal with the hassle. Since I'm out of state - it isn't like I can go to the house and verify that the problem is an emergency - so I'm going to be paying to send someone out there either way. I know that having a non-local rental is more expensive, but I do make a good profit so I don't want to sell. What are your thoughts? I would love advice and experience!