Should i get home warranty for a duplex?

Question

Hey guys— We recently purchased our 1st duplex and are debating if we should buy a home warranty and if yes which one?? The property is in Columbus, OH ; any advice would be highly appreciated!

Robert Ellis · Answer

Yes, especially if you are out of state. can't tell you how many times it saved investors. prop managers aren't always looking out for your best interests and neither are tenants. dishwasher goes out or anything that is covered, it's easy to submit a claim. plus it's paid by seller in columbus so why wouldn't you get one

Evan Polaski · Answer

@Adoram Shemesh I also do not get home warranties at all, primary or investment.  They are a waste of money and require you to use their service techs, who will bandaid the problem over and over while charging large service call fees each time.  At least that is my experience with them.

As an investor, you want to find your own contractors and use them over and over again.  Magically, you start getting preferential treatment and pricing when you keep using and sending them business.

Remington Lyman · Answer

What @Evan Polaski said

Anthony Wick · Answer

@Adoram Shemesh

I’ve used HSA a couple times on duplexes. However, I’ve negotiated the seller to purchase the warranty for me, so it cost me nothing. Usually about $800 or so for the year. $75-100 deductible for service call. It’s nice for lowering your costs during that critical first year of owning a property. It’s also still wise to try and fix things yourself first. Still cheaper.

Now, how did it work out for me? Pretty good, but also a pain as well. It certainly saved me money when I’ve needed a new fridge, dishwasher repair, furnace repair, etc. But, that new fridge? Took 3 trips and two different companies to finally say; “it’s broke and can’t be fixed”. But I did get a new $750 fridge!

I have chosen to not renew the warranties when it came time to pay with my own money. But again, it’s nice for a new acquisition, because you know there is going to be some deferred maintenance from the previous owner.

Austin Steed · Answer

I would agree with @Robert Ellis.

It also depends on which companies you go with.

ABC/IGS has a package with a $0 deductible. But you have to use their in house contractors. I think this would make sense for an OOS investor.

America's Preferred HW has a deductible but you can hire your own 3rd party contractors. I've used this company for one of my doubles here and they paid $225.00 for a a stove repair. Kind of a head ache with the process though.

Zeke Liston · Answer

Congrats on the purchase @Adoram Shemesh! I don't get home warranties either.

Adoram Shemesh · Answer

@Remington Lyman

Thanks. Can you explain why and how you do manage it?

Remington Lyman · Answer

I do not get home warranties for any on my rental properties

Robert Ellis · Answer

Yah, i don't know who they are talking about that charges. I used ABC and i can tell you that home warranty easily paid for itself with calls from tenants. Plus i was never charged a fee.

Adoram Shemesh · Answer

@Evan Polaski

Thank you sir!

Should i get home warranty for a duplex?

Most Popular Reply