How do you manage your maintenance reserves
Across the forum, we talk about ensuring that you maintain your reserves... but how do you actually manage them on you own the properties? This question is for the properties you plan on holding. If you are flipping, reserves are a different topic I think.
Do you maintain a separate reserve per property, by class or location, or across your portfolio?
Where and how do you hold these funds? do you physically shift $X to a separate fund on a monthly basis? What is the amount based on - rent or property value, so much per door?
Do you keep the funds in cash or money markets or some other type of account? Or do you rely on lines of credit if funds are needed?
How do you determine if you have enough set aside (ie. perhaps you can invest some of them or need to set aside more). Do you use a percent value of your portfolio? or do you look at what might be needed for each property individually? what is the time frame you use
Your advice and thoughts are greatly appreciated