Here are five common costs landlords often face—and how to stay ahead of them. For landlords looking to manage costs, a home warranty can provide some relief by covering HVAC repairs. Water Damage: A Small Leak, Big ProblemWater damage is one of the most common and costly issues landlords face. Whether it’s a burst pipe, a roof leak, or a faulty appliance, water issues can spiral out of control if not addressed promptly. The key is staying ahead of the game—because when it comes to rental property, preparation is everything.