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If you are the owner of an investment property, you are responsible when something breaks down in the building. So when the tenants call with an emergency, you will need to have a list of local repair companies you can contact, and money in the bank to pay for their services.
One of the best ways to protect your property investment is to purchase a home warranty that covers your home against unexpected system breakdowns that can be costly, particularly if the heating or plumbing systems need repair. The yearly cost of a good home warranty is probably less than the cost of replacing a broken water heater. If your property is older, a home warranty will provide you with greater security and peace of mind.
Another way to plan for investment property repairs is by building up a monthly surplus account, where part of your positive cash flow can sit in preparation for the day some major repair is needed. Having a "rainy day" fund will relieve you of financial stress when something has to be fixed.
The Manderson Group Coldwell Banker United, Realtors 22 Via Deluna Pensacola Beach, FL 32561 Office: 850-932-5300 Trey's mobile: 850-393-8739 Toll Free: 800-874-5300 Fax: 850-932-0787 trey@themandersongroup.com
The Manderson Group is a team of personally selected individuals who are committed to providing you with the highest possible level of customer service. Affiliated with Coldwell Banker United Realtors, we offer additional real estate sales and marketing services to ensure your needs are met and exceeded. Our team provides the following services: Personal service throughout your selling and/or purchasing experience. Support in the marketing, buying and closing of your property. Exposure to a wider geographical area
Consultation for investment real estate, including commercial and residential.
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NUMBER1EXPERT in real estate for Pensacola Beach, Gulf Breeze and Pensacola, Florida