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Updated over 10 years ago,
10% Repair -- Does anyone stay under this ?
As a buy and hold investor - I have budgeted the typical 10% for repairs but find it nearly impossible to stick to that amount. The majority of my properties are fairly new (all built since 1970 with 5 of the 9 built since 1990) . If an investor gets $1000/month rent one yearly water leak ; a sprinkler issue; garage door issue; and a few lights not working properly can eat up your 10% repair costs (not to mention more serious issues that can advise) . All investors must have a lot of similar issues come up over the course of a year.
Maybe it's just me but unless we want our properties to deteriorate and have a lot of deferred maintenance I find it nearly impossible to stick to this:
Please advise with any thoughts