Expense Forecasting... Lessons learned from the field

[Richard Cole]

Hello everyone, 

After some hefty pest control expenses from several building that we manage, we realized that pest control was not a line item we had when running our annual expense projections on a building. However, it is significantly impacting cash flow for some of our clients. 

We're in MA and have noticed a range of $680-950+/year for pest control in multifamily buildings in the area. Heads up to any investors running numbers and wondering what could come up in that "misc" expense category. Pest control is one of them. Going forward, we'll be adding this to our expense projections as its own line. 

What have other rental property investors noticed as unexpected expenses that you weren't aware of before investing/managing property? 

Thanks to all.