Appliance Insurance Company??

Question

Hi BP,

I've been listening to all the old podcasts about land lording and property management since I am a new land lord. I recently heard one where a property manager discussed the idea that he had all of his properties under an Appliance Insurance company. Then the tenant would just contact the company and the company would handle all issues 24/7.  This sounds like an awesome deal; but is it worth it?  If it is; does anyone use one of these companies and/or know which company is the best one for the cost?

Kim Meredith Hampton · Answer

@Michael Beeman that would be a home warranty! As the other member noted, Thur sound great in theory, but are aooooo difficult to work with; send out inadequately trained vendors, take days to weeks to call back, or say that "that part" is not under warranty. In addition, you must pay them a service fee each time they are called; the tenant doesn't want or pay this, so as the owner tiunkust get back on the phone to pay with a credit card. This is very aggravating to everyone, and inadvertently scares off good tenants

Dawn Brenengen · Answer

@Michael Beeman Sounds like you're talking about a home warranty company like American Home Shield, etc.  In theory, it would be great, but I find they are super slow to respond and let repairs fall through the cracks all the time.  I like to be in control and make sure my tenants have a good experience while living in my rentals.