Home Warranty for Self Manage Properties

[Michael Mendez]

I was in a work shop and someone recommended self managing and use a home warranty to help with maintenance. They said the tenant pays for a monthly home warranty and the price is deducted from their monthly rent. I like the idea of that, does anyone have any pros or cons, trying to get any perspectives.  

[Shiela R.]

Hi @Michael Mendez. This is a strategy that is used for sure.  However, YOU need to get the home warranty. The idea with self management is that any repairs needed under, say $250/month a tenant covers.  Anything over that amount, you cover.  If you have the home warranty, the warranty covers it so you are protected both ways.

Make sure you video the property and all the mechanics (furnace, AC, hot water heater, etc.) both for the warranty and for record of condition with the tenant.