Operating expenses for rental

[Andrew Galeano]

Hey guys -

I was trying to get a genral rule of thumb on operating expenses for a rental property.

I know it would vary by location but I would like to hear what are the %’s for you guys.

Currently out of the total gross income

20% goes to taxes and insurance (Jersey City 15 minutes from Manhattan) + flood insurance. And 10% is going to utilities. That leaves me 15% for maint/capex/Vac

This was my first house hack and although I am currently handling the property mgmt side - my next deal ideally would have enough room for 10% extra for that. As of now I dont mind handling it and I’m actively learning to set it on cruise control - I would like the option in the future to hand it off If I chose to.

Thanks for your input guys I look forward to hearing it!