Home Warranty or Not

Holland Properties • Apr 30, 2021

Are Home Warranties a good idea for your rental

Home warranties might make sense for homeowners that want an easy way to take care of problems including not having to have a list of contractors at the ready or maintenance techs to do the easy stuff or maintenance coordinators to put all the pieces together. You however are hiring a property manager and that is exactly what good property managers do for you. Home warranty companies are in business to make a profit, do not give away part of your residential property investment profit to make a home warranty company wealthier.

Home warranty companies are notoriously difficult to work with, often refuse claims and rarely get things taken care of within the legal timelines. Sometimes warranty companies can not repair or replace in a timely manner and we may need to use an alternate vendor. Frequently warranty repair people can only provide a time frame (for example noon to 4pm) for an arrival time. In this case if the tenant can not be home we will still need to send a maintenance tech to the property to wait for them and you will be billed for our handyman's time. Using our pre-screened contractors you wont have double charges like that.

But do not just take our word for it do your own searches or check out these articles

https://www.investopedia.com/articles/mortgages-real-estate/11/home-warranty-worth-it.asp This one is from investopedia.

https://www.biggerpockets.com/forums/52/topics/715632-property-manager-home-warranty Steve Rozenberg's comments are extremely accurate.

Read the 4th comment on this page (as well as the rest of it) as this biggerpockets.com employee hit the nail on the head https://www.biggerpockets.com/forums/52/topics/477675-home-warranty-plans-yay-or-nay

We no longer work with home warranty companies for new properties and will phase out working with home warranty companies by the end of 2021 (now 2022 to give more time to cancel current contracts). Take the money you are paying or considering paying a home warranty company and put it in an emergency fund acct. In most every case you will come out ahead in the end...that's the bet the warranty companies are making too.

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5 key benefits of hiring a property management company

By Holland Properties • 12 Feb, 2024

When considering the management of rental properties in Oregon, especially for property investors who might not have the time or expertise to manage properties themselves, hiring a property management company can provide several key benefits. Here are five significant advantages tailored specifically for property investors: 1. Local Market Expertise A property management company based in Oregon, particularly one familiar with the greater Portland area including Beaverton and Hillsboro, brings invaluable local market expertise. This knowledge is crucial for setting competitive rental rates, understanding local laws and regulations, and effectively marketing your property. Holland Properties, Inc., with its deep understanding of the local market dynamics, can help you maximize your investment's profitability while ensuring compliance with all local ordinances and state laws. 2. Efficient Tenant Placement and Management Finding the right tenants is fundamental to the success of your rental investment. A reputable property management company has the resources and processes in place to screen tenants thoroughly, ensuring you have reliable tenants who pay on time, take care of your property, and generally cause fewer problems. Holland Properties, Inc. offers comprehensive tenant management services, including rigorous screening processes, lease negotiations, and tenant communications, which can save you time and reduce the risk of rental income loss.