One of the fears many duplex investors express to me is of a middle-of-the-night phone call about something breaking.
Of course, while there are always plumbers and repair people happy to correct the problem for a fee, one strategy many landlords here in the Twin Cities take is to require, in their lease, that tenants carry a Centerpoint Energy Service Plus insurance plan.
While there are a wide range of coverages available, the basic plan, which runs about $17 a month covers repairs to a gas furnace or boiler, gas or electric clothes dryer, water heater or range.
Coverage for all appliances, as well as the central air conditioner, may be purchased for just under $38 a month.
Once they have the repair plan, tenants can then call Centerpoint directly for repairs. This not only relieves some of your stress, but helps you reduce your own property maintenance expenses as well.