Rental Property Reserves

[Tom Puiia]

How much do you hold in reserves for each rental? Do you hold more or less for property type? (I.e. Condo vs Duplex)

I've heard 6 months but am curious what others are using.

[Michael H.]

I keep a minimum of 15% of gross income in my business account (anything over the 15% at the end of the month is paid out), that plus a nice credit card in case the poo really hits the fan. Been keeping this simple up for over 5 years now, hasn't let me down.