Home Warranties for Multi Family

[Derek Petersen]

I'm curious if anyone has had a good experience buying a home warranty plan for multifamily properties. I have recently picked up a fourplex and triplex with some deferred maintenance from the previous owners. The property manager is suggesting I buy a plan for the fouplex due to the age and number of appliances, and the triplex had the basic kitchen appliances replaced when I bought the property. I think the policy is roughly $1300 for the fourplex and a little less for the triplex. Maybe it makes sense for the first several years until you have a handle on the property condition? Similar to buying a used car, once you have it for several years you know about all the problems with it. Or does it make more sense to spend the $1300 on replacing appliances each year?