Updating post from Reddit.
Hi all I am interested to know how much you are all budgeting for maintenance or how much you have spent on maintenance. Over the last couple of years i have spent 25% of my gross rent across my portfolio on Maintenance not sure if I am unlucky or with rising materials and labour costs this is the right amount.
Anywhere between noting and 25% IMO. It’s going to vary a lot depending how old the property is. We put Ned double glazing in 5 years ago it probably wasn’t desperate but it’s done for the next 10 years minimum. Some years we won’t need to spend a penny.
Yes its true i had to redecorate and put in a new kitchen for a flat that contributed to one of the years 25%
12%. This is based on article I did with a landlord who had lots of properties for a long period and had kept fastidious records.
Very interesting i wonder if this included light refurbs between tenants as well.
It did yes.
I personally find some years can be maintenance heavy and some very light. What is sure, two boilers will break down at the same time at some point! Sods law