BP Rental Calculator Potential Bug
I was using the BP Rental Calculator and compared the numbers to the calculator that I created for myself. In so doing, I looked at the Vacancy %, Cap Ex%, Repairs % and Management Fee % it looks like they're being divided by 10 instead of 12 to get the monthly rate. Which I guess is nice built in protection for some investors:-)
Here's a screenshot. The gross monthly rent that i’m using is $3850. So for example 6% of 3850 is $2310 for the yearly cost. However, the monthly would be $192.50. In the following screen Vacancy and other Landlord expenses are being multiplied by 12 instead indicating the tool really meant to provide a monthly cost rather than cost divided by 10. Is this something that could be fixed on the tool? Thoughts?
E.g. This screenshot shows Variable Rates are being divided by 10 instead of 12E.g. This screenshot shows Variable Rates are being multiplied by 12