- Aug 24, 2007
Maybe I've missed it in replies but curious opinions on taking out a home warranty on rental property for self managed? I haven't had any luck selling my last house after 5 months on the market and decided to offer it up for rent and just signed a 1yr corporate lease with the option to extend up to 3 years (or more I suppose). This is my first rental and my agent suggested since I'll be self managing to get a home warranty to make contractors etc easier as needed for major repairs. I've read good and bad and debating so was curious if others have a strong opinion or suggestion. On a positive note the house is now about $500 income a month vs $2000 a month expense sitting there....
Personally, I'm not a fan of home warranties. They tend to be more trouble than they're worth -- they don't cover everything, you sometimes have to fight to get a claim paid, etc.
Just my preference, though...
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