Tip #95: Do You Have My Back?
From bedbugs to building flaws, landlords get blamed for everything, and trigger-happy tenants are eager to stir up legal trouble in the hopes of wiggling off the hook for rent. Profit margins are already tight, and defending a lawsuit can blow a landlord right out of the water — even if they ultimately prevail.
Insurance coverage is a must-have for landlords.
It’s a good idea to meet with your insurance agent periodically to go over your specific coverage. Get them up to speed on any changes you’ve made to the property, any planned repairs or remodeling, and seek their advice on lowering your risks in this climate of lawsuits.
That way, you will have the coverage you need when you need it. And who knows–you may even find some ways to reduce your costs.
Saturday, March 5, 2011
Repair or Buy: How to Decide Whether to Fix Your Appliances
There’s a time in the lifespan of every appliance when you’re forced to ask that dreaded question: Is it really worth fixing? While ultimately that decision is between you and your dryer or dishwasher or hot water heater, there are a few ways to determine if a quick call to the repairman is better than dipping into savings.
How old is the appliance?
Most major appliances are designed to last anywhere from 10 to 20 years. While no guarantee that your appliance is going to last that long, if the equipment is far below its life expectancy, you may want to consider fixing. Even older machines may still have a lot of life left, but keep in mind that parts may become harder to find in the future.
How much will it cost to fix?
The repairman’s rule of thumb is that if repairs will cost more than half of the cost of a new appliance, go for the new one. But when considering the costs, remember that the new appliance cost soars above the sticker price when you add on delivery, installation and removal of your old appliance. It’s not uncommon to pay $100 or more for installation. On the other hand, remember that new, energy-saving models can help recoup the investment of a new machine in utility bills.
Are the new models made as well as your old one?
Modern appliances are decked out with innumerable gadgets and features. And while the leading technology can make appliances even more convenient, it can also amount to a costly and intricate repair. If your simple and older appliance can still do the trick, it may be worth the TLC to get a few more years out of it. By the time you are ready to buy, manufacturers will have worked out any kinks in that cutting-edge technology.
Can you repair it yourself?
Naturally, some jobs are best left to professionals—any time you smell gas, for instance. But many fixes don’t require a repairman. Check pilot lights and fuse boxes. Clean vents and coils of dust and debris. Replace belts and unclog blockages. Home improvement stores offer classes in do-it-yourself home repair and there are how-to resources online. If you do call a repairman, be sure to get a warranty for the work.
This information is provided by Jacob Martinez, Spokane Appliance Repair, open 24/7, providing major appliance repair, air conditioning and heating service in Spokane and Coeur d’Alene. Service call is free with the repair. Call 509 207-7138 for more.
How old is the appliance?
Most major appliances are designed to last anywhere from 10 to 20 years. While no guarantee that your appliance is going to last that long, if the equipment is far below its life expectancy, you may want to consider fixing. Even older machines may still have a lot of life left, but keep in mind that parts may become harder to find in the future.
How much will it cost to fix?
The repairman’s rule of thumb is that if repairs will cost more than half of the cost of a new appliance, go for the new one. But when considering the costs, remember that the new appliance cost soars above the sticker price when you add on delivery, installation and removal of your old appliance. It’s not uncommon to pay $100 or more for installation. On the other hand, remember that new, energy-saving models can help recoup the investment of a new machine in utility bills.
Are the new models made as well as your old one?
Modern appliances are decked out with innumerable gadgets and features. And while the leading technology can make appliances even more convenient, it can also amount to a costly and intricate repair. If your simple and older appliance can still do the trick, it may be worth the TLC to get a few more years out of it. By the time you are ready to buy, manufacturers will have worked out any kinks in that cutting-edge technology.
Can you repair it yourself?
Naturally, some jobs are best left to professionals—any time you smell gas, for instance. But many fixes don’t require a repairman. Check pilot lights and fuse boxes. Clean vents and coils of dust and debris. Replace belts and unclog blockages. Home improvement stores offer classes in do-it-yourself home repair and there are how-to resources online. If you do call a repairman, be sure to get a warranty for the work.
This information is provided by Jacob Martinez, Spokane Appliance Repair, open 24/7, providing major appliance repair, air conditioning and heating service in Spokane and Coeur d’Alene. Service call is free with the repair. Call 509 207-7138 for more.
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