The Advantages of Expert Maintenance Warranty Providers for Home Managers thumbnail

The Advantages of Expert Maintenance Warranty Providers for Home Managers

Published Jun 11, 22
8 min read

What is a home warranty?

Home warranties are agreements which cover the repair or replacement of the appliances and systems in your home when they fail due to normal wear and wear and tear. Home warranties are not the same as home insurance , which shields your home's structure against natural disasters or theft however they do ensure the security of your home's systems as well as appliances. All types of housing are qualified to be covered by home warranties. They are able to help lower the cost of repairs and replacements and are feasible for landlords of both types, new as well as old. A service call fee is an expense which is paid to the warranty provider every time a claim is put in. While most providers offer coverage for older homes, some may not cover items in existing conditions.

What are the benefits of using a home warranty for rental properties?

1. Protection against high repair costs

A home warranty that covers rental properties can help protect against high repair costs by providing expedited service, convenience of one-stop shop and there is no charge for service. This cuts down on amount of time and expense that is spent on repair work and also provides financial protection from unplanned repairs and replacements. Regular maintenance can help retain tenants and clients. Tenants are able to request services without the need for approval from landlords. Systems and appliances that are covered are also fixed quickly, which reduces the possibility of having negative reviews. This allows landlords to charge lower rent and save on.

2. Common household appliances are covered

What types of appliances are covered under an insurance policy for rental properties? [Expanded list] Refrigerators, dishwashers and clothes dryers, clothes washers, trash compactors, ranges / cooktops/ ovens, built-in microwave ovens, built-in food centers, heating systems water heaters, air conditioning, garbage disposals, electrical systems smoke detectors, central vacuums, doorbells, plumbing systems ceiling and exhaust fans septic tank, sump pump spa, pool and garage door openers.

3. You can rest assured that repairs will be completed

Landlords have many benefits of having repairs covered under the home warranty. Through covering repairs, maintenance, and repairs, landlords are able to be protected from having to shell out cash on demand whenever there is a problem. Additionally, a home warranty plan makes the home repair process for everyone involved by sending a claim to the warranty company. The provider then sends someone to their rental property to address the issue. In addition, since most repairs and replacements can be easily covered and resolved, property management companies can expect reduced costs for contractors hired by third parties as well as insurance expenses. The home warranty offered for rental properties is also a way in enhancing client and tenant retention by addressing the most common reason why tenants quit: maintenance problems. Tenants are able to request assistance from their landlords and not need to get approval. This permits them to fix appliances and systems quickly. It also reduces the possibility of tenants complaining about it. Home warranties provide landlords with an affordable and effective solution for repairs to rental properties.

4. It helps you save time as well as making it easier to find contractors.

Using a home warranty for rental properties could reduce time and stress in the search for the right contractor. Instead of searching the internet for a reliable contractor the nick of time, landlords can file a claim through their home warranty company. They will send a person to their rental property to address the issue as fast as they can. This is more efficient than needing to call multiple contractors to determine the most suitable one to complete the task.

Property managers however they can cut down on time and stress by bringing a trusted vendor they have already worked with to a house they manage. They know the price as well as the quality of work and how the vendor has behaved over the years. There is no need to spend time searching for the right contractor. Additionally, experienced contractors are more likely to be trustworthy and kind to tenants, which is important to ensure the satisfaction of tenants.

Furthermore, getting assistance from a home warranty company could take longer than anticipated and can take a few days. Tenants might be unhappy if they aren't happy with the speed with the time repairs are made. Property managers are required to serve as a mediator between tenants and the homeowner warranty provider, adding to the stress.

A home warranty is an excellent way to save time and eliminate the hassle of hiring an expert contractor. Property managers can use trusted contractors they have already worked with to managed homes, while homeowners can file a claim to their warranty company and get the issue fixed within a matter of minutes.

5. Budget for repairs

Renters are able to save money using a home warranty to cover repairs and replacements to their appliances at home and mechanical systems. A home warranty program helps to make repairs more predictable, keeping tenants happier, and improving the overall bottom line. The home warranty is advantageous as it is a one-stop source for all household maintenance and replacement requirements. It also eliminates the need to exchange money during service calls. A home warranty could reduce the annual expenses of the homeowner by covering the total repair or replacement costs of damaged appliances or systems.

6. Protection against landlord liability

A landlord's home warranty protects against landlord liability. It provides expert repairs for equipment and systems that are failing because of normal wear and tear or age. This reduces the chance of hability lawsuits from tenants since repairs and replacement of the appliances and systems are taken care of promptly. The covered repairs also reduce the need for landlord approval and the need for disputes to be resolved, which further reduces the possibility of landlord liability. A home warranty can provide additional financial protection as it's tax-deductible and can help in reducing rental costs.

7. You can choose from a variety of warranty providers

Selecting a provider for a home warranty for a rental home can be a tricky endeavor. You should consider cost as well as the reputation of the company, its customer service, as well as other features. It is recommended to consider the various plans for service, additional coverage options, the depth of coverage, plan cost, industry reputation, customer support infrastructure, as well as additional features when selecting a provider for your home warranty. Also, be aware of the possibility of choosing your own contractor and then upgrade your coverage plan. Also, how easy it is to transfer your plan from one person to the next.

Our research shows that plan coverage is most important, followed by customer support. The company's reputation, plan availability and additional features should all be evaluated equally. Price range should not be the primary factor when selecting a home warranty company that can meet your needs.

For example, if your rental has a saltwater pool, pro-series appliances, or a reverse osmosis system Liberty Home Guard has a range of accessories that could be appealing to you. If you're unavailable to take care of repairs within the typical 30 days of the workmanship guarantee, AFC Home Club offers the option of a plan-length warranty that can offer additional security. HomeServe specialized plans may be an ideal option for those who are most concerned about their rental's utilities as well as American Home Shield may be the best option for those who prefer a home warranty provider with higher coverage caps.

In the end, we suggest requesting a quote from at three providers for home warranties and thoroughly reviewing the plan terms to make sure you're aware of the limitations and exclusions that are in the policy. This will allow you to make informed decisions and help you choose the right home warranty company for your rental properties.

8. You may take advantage of discounts and other benefits

A home warranty plan for rental properties could help reduce costs by two methods. The plans provide a simple and low-cost way to fix important appliances in the home when they fail. This can save landlords the expense of regular repairs. Secondly, depending on how the landlord is registered, the entire premium and service costs of the home warranty plan could be included as operating expenses on a tax return which will reduce the total amount of income they earn, and therefore their tax burden.

9. Ability to send and track repair claims online

Renters will find their home warranty plans very beneficial as they allow them to fix their home. The landlord only has to file claims with their warranty provider if the covered item fails or fails to function. The company will then send a technician to the rental property to fix the issue as soon as they can, saving landlords the time and effort of searching for a reputable contractor at the shortest notice. Home warranty plans enable owners to be sure the rental property they lease is properly taken care of through rapid service and ease of use.

10. Greater tenant satisfaction

Using a HomePRO Warranty can provide many benefits to tenants in terms of service and satisfaction. The HomePRO Warranty reduces service calls because tenants are able to submit requests directly without waiting for the approval of the landlord. This improves the relationship between landlords and tenant. HomePRO Warranty also eliminates the requirement to maintain a connection with several vendors. The warranty includes repairs and replacements of various appliances and systems. In turn tenants have the assurance that their needs will be met quickly and efficiently. Additionally having a home warranty can also help in increasing the rent of the property, allowing landlords to earn more every month.