Defining terms for new folks: "Maintenance"
I have a question about what all is included under the term "maintenance."
There are a few rules of thumb out there for estimating maintenance costs (e.g. 1% of property price/year, 10-15% of rent, $1/sqft/year, etc.).
My question is what falls into this category of “maintenance” and what should be accounted elsewhere in the budget? Is this just a category for all repair calls (HVAC, plumber, handyman) and nothing else? I have been given the sense that maintenance means things like routine repairs (new doorknob, broken light fixture, a stuck drain) routine preventative upkeep (winterizing, etc.),
Are landscaping/mowing costs included in these rules of thumb?
Snow removal?
Pest Control?
Trash/sewer/water costs?
Are tenant turnover costs (e.g. fresh paint) included?
I’ve seen these treated as both part of and additional to “maintenance” in different places. So, what’s maintenance?