Maintenance on buy-hold SFR

[Douglas Pollock]

What percentage should be set aside for property maintenance for single family residential. Some people are telling me 10-12% for Property Management and 10% for maintence/upgrades. I pay 10% for PM now, and don’t get calls for running toilets. However, I do get calls for major plumbing repairs, air conditioners, and hurricane damage - hence the need to factor in maintenance. At some point, the remodeled kitchen will need to be remodeled again, and the new roof will need to be replaced, and I’ll need new siding, windows, etc. I see many of the property analyzer spreadsheets only use 2% for maintenance and upgrades.... are they planning on tapping equity for the major upgrades?