Maintenance costs in Wisconsin?

Question

I'm wondering what others consider maintenance costs. For our duplex the only thing we considered is spring and fall landscape clean up. We're very new so we could be missing a lot of items.

Any thoughts or feedback is appreciated!

Rob Myers · Answer

For me, maintenance is anything to upkeep the property that isn't a CAPEX expense.  Yes, that sounds pretty general but works for me.  I own single families and duplexes that are 50-70 years old and budget %4 for maintenance and 7% for CAPEX.

Some typical maintenance expenses - Fixing window/door hardware, small plumbing repairs such as leaky faucets, minor electrical repairs, etc.

Peter B. · Answer

@Nick Bleser

Depends on your lease.... As Scott has stated, I put lawn/landscaping and snow removal on the tenant in my duplexes. The other maintenance costs will vary on the age,condition, and design of your duplex. If it is a converted house to a duplex, it will have higher costs when damage/wear and tear occurs vs a traditional duplex.

Nick Bleser · Answer

Our tenants are responsible for lawn mowing and snow removal. The only maintenance I can think of is we want to do yard and landscaping clean up twice a year. Cost roughly &150x2.

Chad Nagel · Answer

My WI PM and I were trying to run projections on a monthly maintenance budget.  We figured a good starting point was $25/unit over 40 units =$1000/month. This is on a stabilized portfolio with some deferred maintenance expected. My units tenants do lawn care/ snow/ yard clean up. His crew ranges from 20-50/ hr depending on the nature of the call.

Scott Schultz · Answer

@Nick Bleser I guess that depends on what you are providing to the tenant, most landlords I know make either on or both units responsible for landscape, lawn, and snow, as well as light bulbs, furnace filters, ect. cleanups during a turn is a different story, and can range from a few hundred dollars to many thousands.