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Updated about 8 years ago,
Tracking vacancy rates and maintenance costs
So, I have 4 rentals and I compiled my totals for the last 3 years and I had 1.9% average vacancy rate. My maintenance costs (including cap x) totaled 8.6% of revenue.
I know my vacancy rate is a bit lower than average, do you think my maintenance and cap x is about in line? I'm wondering if these are realistic numbers to project for the next properties I buy. Is maintenance as a percentage of revenue the best way to estimate, or do you guys look at it a different way ($ per square foot per year, $ per property per year?).
And I've been able to achieve 2% vacancy mostly by hustling my butt off on turnover, but that also may be a little low for a long term estimate?