Are Home Warranties Really All They’re Cracked Up To Be?

On the surface, it would appear that a home warranty is a great safety net that provides convenient coverage for both the tenant and the landlord. With a home warranty, most repairs to rental properties can be handled in a quick, easy, cost-effective way. However, there is more than meets the eye.

Home Warranty Companies are Notoriously Slow

It has become a well-known fact that most home warranty companies are notoriously providing inadequate work and answering requests in an untimely fashion. Additionally, we have noticed that home warranty vendors always seem to wiggle out of coverage any way they can. There are often times exclusions and restrictions in their coverage, and without the option to personally select the vendor, Drake Properties cannot control their work ethic, schedule, or standards. Put simply, they do not meet the high expectations we hold for our company. We usually end up hiring our regular repairmen to finish jobs that should take about a few hours instead of the weeks it takes for warranty vendors to get around to it.

Service Charges are Notoriously High

It is equally important to note that in addition to the typical $500 per year cost, service charges of about $50-$75 or more are always tacked on to each call for every different type of vendor that must come to finish the repair. Owners end up absorbing the service charges for every repair the tenant requests. These are full-price service charges even for simple, inexpensive fixes like resetting a tripped circuit breaker.

We Expect Superior Service

Even when it’s all said and done, you end up with an unsatisfied renter on your hands due to the vendor’s slow response time. Imagine waiting almost two weeks to have an air conditioner repaired in the heat of summer and still being required to pay the full service charge. We expect better service for our clients, and that is why we highly recommend filling repair requests with our personal repairmen. Neither our repairmen nor we at Drake Properties tolerate slow, expensive work. We hire only the most responsible and reasonable workers to help us maintain our goal of excellence.

The number of property management companies who accept home warranties is rapidly decreasing. In order to provide you with the best service possible, we will always make our best effort to refer you to the most qualified and skilled repairmen we know.

As always, with any questions about home repairs, please contact us (951) 373-2500.