To have or not to have a Home Warranty for aTracy CA Rental Property

To have or not to have a Home Warranty for your Tracy CA Rental Property

Pros: 
1. Home warranties provide peace of mind, knowing that repairs and replacements will be taken care of when needed.
2. Home warranties can save money compared to paying out-of-pocket for major repairs or replacements.
3. Home warranties can help maintain the value of a home by ensuring any necessary repair or replacement work is done in a timely manner.
4. Home warranties are flexible, with options available to tailor coverage to specific needs and budgets.
5. Home warranties can give homeowners access to technicians and services that may not otherwise be available. 

Cons: 
1. Home warranties can be expensive, depending on coverage type and the provider chosen. Home warranty companies are designed to pay as little as possible.
2. Home warranty companies have their own policies, which may restrict coverage for some items or require additional fees for certain services or repairs.
3. Home warranty companies almost always have the vendors submit findings for approval. This dramatically delays the repair
4. Home warranty companies can take weeks to get a repair completed instead of hours.  Home warranty companies typcially have their own supply warehouses, this means vendors need to order parts instead of going to the local hardware store.
5. Pre-existing issues are typically not covered by home warranties, meaning they cannot be used to repair existing damage or defects in a property.
6. In a rental the time lost by using a home warranty can be very costly.  Tenants may request monetary compensation for the time something is not working properly.

As a Tracy CA Property Manager, we do not recommend home warranties to be used in a rental property.  One of the top reasons tenants move is due to how quickly and timely repairs are completed.

If you want a home warranty for your Tracy CA rental, we advise only using it when a repair is over $500.  Talk to your property manager, they can usually give you an idea of the cost of most repairs.