Home warranty as handy man/repairs

[Milton Rivera]

Hello BP,

Has anyone ever used a home warranty company and use them as a maintenance contractor?  Does it make sense to invest about $500/year on a policy for an investment property?

Data:

Initial cost = $500/year

Service calls = $75/each

Assume, the rent on the property is $1,200/month and a 5% repair reserve ($1,200*12*0.05) = $720/year

Under this scenario, it tells me the breakeven is about three (3) service calls per year with the warranty company. 

Has anyone actually used this and what type of experience did you have?