Of course now with CV the field has changed somewhat but as we fill vacancies going forward I don't see any changes coming to our policies we may even want more up front.

I budget for 15-20% maintenance on a building 100 years old; vacancy is again a wildcard, as your vacancy will be much higher until the property is stabilized; for stabilized, I would go 5-10%; capex another 5%.

The property managers job is to collect rents, take care of maintenance issues and fill vacancies.  

If you can't afford a month of vacancy you need to rethink your business model, because that is in essence what we are talking about here.

Also, did you include maintenance, capital expenditures, vacancy ect in that $3200 dollars in expenses?

Otherwise, take the hit with the vacancy. 

Keep a reserve that allows you to handle vacancies, unexpected maintenance issues, and all the other problems Landlords inevitably deal with.

So, if tenants, potential tenants or potentital Airbnb guests haven been laid off or just have seen their wages/hours reduced, I'd expect:a) lower rents (therfore lower ROI, regardless of leverage)b) increased bargaining power for tenenatsc) higher vacancy rates, specially for vacation rentals or mid-term rentals (remember, corporates are already in wartime economics, so sending teams abroad will not be a must)The sales markets is basically frozen.

Maybe I just have a big box/subpar servicer, but I did state the hardship was due to vacancy/future rent issues/loss of income. 

When I account for taxes, vacancy, and management expenses on top of maintenance and upkeep, I'm wondering how many landlords are able to actually profit well from their properties using reasonable financial estimates.