It’s every landlord’s worst fear: Something’s broken and the tenant needs it fixed ASAP.
Here’s the thing… The problem isn’t really that something is broken.
That’s why we have property managers, handy-men, repair guys, HVAC specialists, etc.
The problem is the cost of the repairs.
Let’s break it down even more….
The REAL problem is when the cost of your repairs cuts into your ROI– or return on investment.
It’s no secret that you’re in the property rental business to grow your wealth, not spend it on maintenance costs. But expenses can add up fast…
Average cost of some typical repairs:
- New standard refrigerator: $750 minimum
- New hot water heater: $500 and up
- Clogged plumbing: $500 – $2,000
- Furnace replacement: $3,000 and up
You can see how a few repairs could quickly add up to a small fortune, especially as a passive out-of-state investor.
That said, the most successful property owners keep their properties in optimal condition. They make timely repairs and replace appliances as needed. Not only is it the safe and responsible thing to do, but it’s the best way to attract and keep great tenants.
How do you maintain your property’s condition while protecting your ROI?
The answer is a home warranty!
All True Turnkey properties in a one-year home warranty by HSA, a division of American Home Shield– one of the largest home warranty providers in the country.
The home warranty is a service contract that covers the cost of repairs or replacement of most of the major components of a home that could potentially fail due to normal wear and tear.
For example, say the hot water heater in your property suddenly quits working. First, your tenant will contact the property manager. The property manager will then contact HSA who will arrange for a visit from a service technician in your area.
Here’s the best part: Each service call is a flat $99 fee.
The HSA Home Warranty covers just about everything in your property: major kitchen appliances, the furnace, hot water tanks, electrical, plumbing, AC units, refrigerator, oven, etc. Also, new for 2021, the HSA warranty also covers leaky roofs– a huge benefit!
Essentially your home warranty provides an extra layer of protection on your investment. It protects your budget, so that your ROI won’t take a significant hit when a major appliance unexpectedly needs repair or replacement.
The peace of mind is priceless.
The first year of your home warranty is included in the purchase price of your property. This is just one of the ways we ensure you’ll be in positive cash flow from day one.
After the first year, we always recommend that you renew the policy from year to year. Hands-down, it’s the easiest way to keep your property in optimal condition for years to come, without breaking the bank.
Expect the renewal of your home warranty to cost you approximately one-month’s cashflow. At that price, it could easily pay for itself with just one service call. And it covers so many problems– it’s truly a no-brainer.
Buy With Confidence
Inherently, there is always a level of risk whenever you purchase a rental property.
Our goal is to minimize those risks and provide you with a seamless, headache-free investment opportunity that provides passive cash-flow and high returns for many years to come. Our one-year HSA home warranty is just one of the ways we do that.