Thank you so much for your sharing your opinion and experiences . I don't think I will buy it now after all those negative experience of using them.
STella
Originally posted by
@Steve Rozenberg:
These are just our thoughts, our opinions as we go through this. One thing that we found with Warranty companies. I’m sure there’s different one’s in different areas, but just what we have seen is a lot of them get the lowest bidder to do their jobs. Sometimes we’ve noticed that sometimes the quality of work is not always the way we would like it and not always the way that the tenant would like it either. A lot of times with these vendors, they are not our vendor. We have no control over their work ethic, we have no control of their schedules. So a lot of times when the tenant wants to know about the vendor showing up. We have no control, we don’t know who the vendor is; we can only call the warranty company y. We take care of facilitating the warrant work being done, but no control over their schedule. And, if the job isn’t done right, we have no control over that. The other thing is if there is a fault that is perceived to be by the tenant we have found that a lot of the companies do not honor the warranty and they charge you the full price. I’m not saying that is always the case, but we have had a lot of cases where now the tenant is saying they didn’t break it, the warranty company is saying they did, and now there is a lot of friction going on because we don’t have our standards to verify this information because we don’t know who the vendor is.
So, these are just some things that we’ve run into with them. If you do use a warranty company I would just kind of make sure up front.Verify, ask them questions, find out who they work with, talk to other investors that use their service and see if they have had any problems. One thing you want to remember is the tenant has rights, they have a lot of rights. And, basically you have to remember they probably have more rights than all of us. Judges normally will side with the tenant, so you want to make sure that you are not violating rights. You want to make sure you get things done. It’s all done in a timely manner. You can find yourself on the wrong side of the law and here in Houston we have what’s called the Texas Property Code. For example, Air Conditioning Units, if it’s over a certain degree, 83 degrees you only have a certain amount of days to fix that with a tenant. When you own the property those rights don’t exist. So, when you’re dealing with a home warranty company and they may say we can’t get out there until next week. Well, you could be putting yourself in a bad legal position by allowing them to delay that long, because the tenant by law it has to be fixed within a certain amount of days.
So, you want to make sure you know those rights and that you do not violate them just because a home warranty company cannot accommodate you. Remember, it’s hard enough to use a home warranty company on the home when you own it. I know, I personally have it on my property and it worked well. I tried it on my rental properties, it just didn’t work so well. I don’t see them as cost effective and as
practical, but again that’s on my rental properties. On my personal properties it works very well.
