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?

[Rachel B.]

I disagree. One visit from your home warranty and it has paid for itself! Owners who are out of state or do not have time to find and facilitate repair requests from tenants.