Property Management Brainstorm

How much should a landlord expect to spend keeping their home maintained? It's a common question and there are some rules of thumb and considerations owners of rental properties can keep in mind when setting aside reserves to handle unexpected reserves.The 1% Rule:  this popular rule says that 1% of the purchase price of your home should be set aside each year for ongoing maintenance. Using this logic, if your home is worth $450,000, you should set $375 a month for expected home maintenance and anticipate about $4,500 in repair costs during the year.The Square-Foot Rule: another practical approach is to budget $1 per square foot for annual maintenance and repair costs. This rule is slightly more consistent than the 1% rule because it's directly related to the size of the home. Keep in mind, however, that  market prices for contractors and building materials can vary significantly from region to region. Using this logic, if you have a 3,000 square foot home, you should set aside $250 a month or $3,00