How much should budget for maintenance?

[Tristan Cortez]

I am currently making my own rental property calculator in excel, I was wondering how much should I budget for maintenance? Is their a rule of thumb, is it per square foot or something else.

Thanks in advance for your input!

A similar question about Capex

[Nazz Wang]

Always good to start by self management. In the years of self management I have learned so many valuable lessons fast. I personally budget the higher of 10% rent or $2000 a year. Remember you also have to budget for that roof every 20 years and that plumbing every few decades, etc. a water heater can take out most of your yearly budget but only need to be done every 10/15 years hopefully.