Real Estate Investing Forums

Real Estate Investing => Rehabbing, Fix and Flip, Rental Properties => Topic started by: sdonald on October 25, 2004, 01:32:35 pm

Title: Getting a Warranty for Rental Homes
Post by: sdonald on October 25, 2004, 01:32:35 pm
Has anyone here done a lease option on a home with a subleasor in the home? I was wondering if you know of any companies that may offer a warranty like a homeowners warranty for homebuyers who are in aged homes. A friend of mine who owns a town home actually told me she has one that is just about $300 a year. She has some plumbing problems that totalled to over $1500 but only had to pay a $100 deductible.

Is this a good strategy and are there any companies that would let a leasor get such a warranty?
Title: Re:Getting a Warranty for Rental Homes
Post by: Admin on October 25, 2004, 01:53:01 pm
sdonald,
American Home Shield and other companies offer tenant home warranties, although they're slightly higher...

http://www.reiclub.com/real-estate-business-tools.php

Title: Re:Getting a Warranty for Rental Homes
Post by: sdonald on October 25, 2004, 01:56:05 pm
Awesome that is actually the company that she mentioned. Of course her home is very old and she signed the warranty a little over 10 ago.

Thanks Tim.
Title: Re:Getting a Warranty for Rental Homes
Post by: peachfield on November 12, 2004, 04:49:13 pm
I have a rental and purchased a homeowner warrenty about $500 a year and the first year it really paid for it's self from plumbing, elect, to the pool pump. Each call was $45.00 , oh, and I forgot the a/c, it covered that.  get it, you'll be happy when you need it.  ;D