Updated about 7 years ago on . Most recent reply
Reserve Funds - Property Management
Hello!
What is the typical amount that a property management company should keep in one property's reserve account? I believe I have heard around $500. I am in CA. And my understanding is that if a more costly project were to come up then you would hold some of the rent and put it towards a higher reserve for the time being so there is enough money to pay the bill. Can anyone speak on that?