All Forum Posts by: Nick Miller

@Luke Ostergaard thanks so much, very helpful!

Did you separate the land value from the $244k RCV? 

Thanks Luke! Very helpful! 

Adding to this - any insurance agents here who can take the time to walk me through options rather than just send me a quote then harass me to sign pls message me :) 

I just finished updating a rental property where I was previously paying $990 for an annual ACV policy. 

The house has now been appraised at $265,000 market value. 1908 sqft. 

I received a quote for $3492 annual policy for RCV of $270,000 which also includes liability up to $2,000,000 (see list of liability covered). This would be $291 per month. 

I have no prior claims and the house has new flooring, new roof, new everything. Smoke and carbon monoxoide detectors & fire extinguisher. 

Have I been over-quoted? 

Can anyone share the range they're currently paying in 2024 for RCV policies? 

 @Murali Jesudoss how is your property doing in 35810? 

I’m looking at this area for potential investment. 

Thanks Nathan. The property is a 3/2 house on a corner lot, not a trailer. The fence had been intact since the house was built in the early 80s, besides the peeling paint there was no damage. Mobile was hit by some heavy storms last year which ripped a section of the privacy fence down. 

I have wind insurance (required by lender) but the deductible is $3500 and wouldn’t cover painting of the fence. 

Having the fence painted would improve curb appeal but as it was already peeling it didn’t prevent a tenant moving in.

Recent sales in the street range from $60k to $469k, the location is close to downtown if that helps at all with an idea of the area. 

The replacement estimate seemed steep to me, and I did explain that it’s a rental and I’m looking for a long term, functional and cost effective solution over aesthetics. 

I guess I’m looking for any options I might be missing, such as pre painted fencing or as Will mentioned if replacement might be possible for less than the $5150 and $9600 I’ve been quoted so far. 

 Thanks for the advice Will, the fence would be sound for the $1350 repairs. It did look nice painted, but would still be functional and safe. 

Hi BP. I have a 3/2 rental in Mobile, AL rented for $855/month and am looking for options for getting the fence repaired or possibly replaced after storm damage. 

Existing fence is white picket at the front, and 4’ privacy at the bsck which is also painted white but the paint is peeling. The entire perimeter of the property is 280 yards, and one section of the privacy fence  is damaged. 

The estimate I have from my property manager is $1350 for repairs, and $3800 for scraping the old paint off the damaged sections and repainting. 

Replacement estimate I’ve received is $9600, unpainted.

I am $80,000 into this property including a new HVAC and $15k in rent ready repairs. 

Spending $5150 on the fence seems excessive. My plan at the moment is to get the repairs done only, then look for other options for painting. Also considering having the privacy fence scraped and not repainting. 

How much would you spend on repairing a fence on an $80k property rented for $855?  What’s the most you’d want to pay to replace a fence if it came to that?