Posted by rachel on September 15, 2004 at 10:42:41:
I’m in the DC area. Really about the home warranty? It has worked
wonders for us, especially our own house. We pay $38 per month and
it covers all the systems in the house. For each service call, it only
costs $45. Our a/c broke down and if not for the home warranty it
would have cost us a couple hundred dollars instead of the $45 service
fee. Also, they are reliable and have quick response. Just my
experience.
Managing Out of State Rentals - Posted by rachel
Posted by rachel on September 14, 2004 at 22:23:48:
Hi Everyone,
We are in the military and may be leaving the area next year. Right now, we
have one rental - great tenants. We have not had a problem w/them and they
have never been late. They have an awesome rental history. Last place they
rented they were there for 11 years. They moved b/c the people who owned
the house were getting a divorce and selling the place. Right now, we have
them on electronic deposit w/no problems. As for maintenance, I have a
home warranty on the house and my contractor lives across the street. Also,
we are thinking about renting out our own house. It is in an area that is very
demanding and will probably rent out to a military family being so close to
base.
What’s your view on managing property out of state? Do you think it’s
necessary to bring in property management? I know another investor who has
10 properties across the U.S. and been doing this for 10 years. His properties
are in nice areas where he’s lived. He doesen’t have property management
and has only had 1 issue in 10 years. He had to do 1 eviction and had to get
his family involved who lived by the property.
Any thoughts? Your help is greatly appreciated. Thanks!
-Rachel
Re: Managing Out of State Rentals - Posted by AE
Posted by AE on September 15, 2004 at 10:29:46:
Its not that big of an issue, although I would recomend having them close by. Main thing you need are a reliable contracotr for the basics- AC, roof, dishwasher etc. Do not get an AMS or any home warranty as these multi-billion $ companies will jip you every chance they get. Where are you lcoated?