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Updated about 8 years ago on . Most recent reply

How to plan for costly maintenance??
Most Popular Reply

Hey @Brandon Benifield,
It is as simple as putting away a certain percentage of your Gross Income per unit per month. I am in the maintenance field so I try and plan everything out. I use a very large excel spreadsheet.
2021- New roof on duplex quoted at 12k. That is 5 years from now meaning I need to put aside 100/unit/month for that.
2018- Replace Back unit range quoted at 600. 2 years at 13/unit/month
Emergency Issues- 100/unit/month based off history, age of units, and tenant pool.
Total Maintenance/Capital reserves = $213/unit/month.
ETC. My list is much longer including driveway, garage doors, painting, bathroom fixtures, kitchen fixtures, retaining walls.
If you need any help or would like to see an example of the spreadsheet I would be happy to send it to you.
Goodluck,
Jack