Quote:
Originally Posted by Fat Elvis
Use a home warranty. We use those on our two rental properties, and they have been totally worth it. They help put an upper limit on some costs should something go wrong in a house (like blown A/C, water heater, etc.)
I should really qualify that: it depends how much you are able to charge rent. Our rentals are in a pretty decent neighborhood in a good school district. We are able to charge ~$1,300/month and be very selective about our tenants.
People who can afford to pay that kind of rent typically don't want to screw up their credit rating so they usually have both very good references and background checks.
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I have had extremely bad luck with home warranty companies, but if you have had good luck...well, good on you. We had a home warranty on the Texas House, which is in a very good area, and we were denied on an HVAC issue early on when we bough the house (about 10 years ago) we let it expired and opted to do it on our own.
Our North Carolina house, well actually Town House, has been fairly solid. We had some minor roof damage due to the hurricanes this year, but we were able to fix it for less than the insurance deductible.