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VictorPropertyPromise

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Posts: 2
Reply with quote  #1 
Hello fellow landlords - I'm in the process of launching a new company called Property Promise, based on my frustrations from managing unexpected expenses in my units: http://yourpropertypromise.com/?nab=1 

The concept combines handyman service with insurance. Basically, if there is an issue related to appliances, water heaters, plumbing, electrical or furnaces, you or your tenants call us and we'll take care of it -- and even replace the them -- all for a low monthly fee. 

We're still in the very early days of this project, so I'd like to get some feedback from fellow landlords. Is this something you'd consider? Why or why not? Any questions come to mind? 

Any thoughts - positive or negative - would be greatly appreciated.

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Broeller

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Posts: 5
Reply with quote  #2 
Both my electric company and gas company offer a similar service.

http://www.centerpointenergy.com/en-us/home-service-plus/plans
http://homesmartminnesota.com/repair-service/appliance-repair-plans

I don't user either personally.  In my opinion, it is an insurance program that is not needed.  I would rather save the $50.00 per month, and put it into a savings account to purchase a new appliance/pay for the repair of the appliance.  

The only benefit that I see from one of these programs is that the tenant could call the repair company themselves, however, I want to know what is going on with my assets.

This is just my opinion.  I know someone that had one of these programs, and loved it, because he didn't have to deal with these phone calls.

BritneyR

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Posts: 227
Reply with quote  #3 
Its a good idea, go for it! 
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Hunter Rentals & Property Management

OHlandlord

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Posts: 3,734
Reply with quote  #4 
Sounds like a home warranty program to me.  Lots of companies offer them.
LLinVA

Registered:
Posts: 216
Reply with quote  #5 
Scam. If you can't afford to do the basic requirements of a landlord, you shouldn't be a landlord.
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