[ddrhazy]

@Sporty - I would say about 5 rentals.

It really depends on what the warranty will cover. National Home Warranty, which is what I had, doesn't cover much but my premium with them was around $300/year. They'd do basic stuff like replace faucets, garbage disposals and fix minor electrical problems. They wouldn't do major stuff like if I had to replace an A/C. A water heater, they would charge me ~$400 and they'd do the replacement by the book by pulling permits, and strapping it down. However when I priced out the work myself I saw I'm not really saving much by having them service it.

[SportyandMisty]

Originally Posted by ddrhazy

What is your annual premium Sporty?

The house in question is actually a vacation house, not a rental. I just looked on http://www.orhp.com and it lists:



The basic does include coverage for both tank-style and tank-less style water heaters. Note the caveat that these rates are for homes going through a real estate transaction rather than buying a plan for a home you already own. I didn't find the rate for just buying a protection plan on a home that isn't a real estate transaction - I am pretty sure it is more. Also note these ORHP rates are "teaser rates" for the first year. ORHP then raises the rates subsequently thereafter, and those subsequent rates are not posted anywhere on a website.

I just switched from ORHP to First American for the house in question, as the rate had gone up to the 900-ish range. I plan to switch over my other vacation homes and rentals to First American when the ORHP plans expire.

[ddrhazy]

$900 per year? I understand why they cover most things, the premium is high. Might be worth it if like LVOC, you have an A/C that may be dead in 1-3 years.

[unihills]

Originally Posted by ScoopLV

Tough-[excrement] for your landlord. Hot water is one of those "must-have" items in a rental property.

Your landlord shouldn't care one bit, because the whole thing is going to be deducted from next quarter's taxes. (Tax savings can amount to more than rent every year for a landlord who knows what he or she is doing.)

Call your landlord and explain that if a water heater isn't installed PRONTO, you'll have one installed on your dime and deduct it from next month's rent. If this happened at one of my properties, I'd insist that it be fixed same-day.

If you understood how tax deductions work you wouldn't be so cavalier about the expense. If you are in a 25% tax bracket and spend $1000 on rental income maintenance you would save $250 in taxes paid on rental income, but you are still out the other $750. So it is not like spending free money.

And the lease spells out your rights for required "habitability" repairs, and you don't legally get to fix and deduct from the rent just because you are a tough guy who capitalizes the word pronto. Certainly wouldn't be legal in Texas. As noted previously many jurisdictions allow 48 hours for those kinds of repairs.

[ScoopLV]

Perhaps things are better in Texas. But here in Nevada we have a big problem with tenants who can't afford to pay their rent and end up squatting while the court system evicts them. We also have a big problem with landlords who can't afford to maintain their property and refuse to return deposits (making up excuses for why). A big percentage of this town's residents simply cannot be trusted with money. They can't budget.

And as soon as I hear "water heater replacement red tape, just hold on, the check's-in-the-mail, I won't [censored] in your mouth," that raises GIANT red flags. (Just like when I hear common tenant excuses about why the rent is late.)

Any landlord worth his or her salt would have a time frame spelled out for the repair. "That will be fixed by noon tomorrow." Otherwise, they shouldn't be landlords. We're not talking about roof replacement. It's a $500-600 job. And I'm just as down on riff-raff landlords who can't follow the rules as I am on riff-raff tenants who squat on property and cause damage.

[ddrhazy]

The OP didn't even say when the warranty company would complete the job. As far as I can tell, they haven't acted irresponsibly yet. When the deadline of 48 hours passes, then OP can start getting angry and demand immediate action.

[ScoopLV]

I agree. But I still smell a rat. I'd be willing to wager that this one runs long. Just like aardogfsu's problem ran long.

[ddrhazy]

This isn't a mafia movie. OP should call the landlord and ask for a timeline for the expected replacement.

[unihills]

Originally Posted by ScoopLV

Perhaps things are better in Texas. But here in Nevada we have a big problem with tenants who can't afford to pay their rent and end up squatting while the court system evicts them. We also have a big problem with landlords who can't afford to maintain their property and refuse to return deposits (making up excuses for why). A big percentage of this town's residents simply cannot be trusted with money. They can't budget.

And as soon as I hear "water heater replacement red tape, just hold on, the check's-in-the-mail, I won't [censored] in your mouth," that raises GIANT red flags. (Just like when I hear common tenant excuses about why the rent is late.)

Any landlord worth his or her salt would have a time frame spelled out for the repair. "That will be fixed by noon tomorrow." Otherwise, they shouldn't be landlords. We're not talking about roof replacement. It's a $500-600 job. And I'm just as down on riff-raff landlords who can't follow the rules as I am on riff-raff tenants who squat on property and cause damage.

Fair enough, Scoop. The OP may be getting a bit ahead of himself since this just happened this morning.

[ScoopLV]

Originally Posted by unihills

Fair enough, Scoop. The OP may be getting a bit ahead of himself since this just happened this morning.

You did read the part where a plumber simply showed up and turned off the heater without notice, right?

Again, I smell a rat.