Maintenance & Repair Allowance
General question regarding what you use to set funds aside for maintenance on a multi-unit. I looking at a $155,000 3 unit apartment that produces $1,845 in monthly rents. All the major expenses seems to be a taken care of for a while, good brick exterior, capped replacement windows, roof has 15-20 years left, all gas boilers and water heaters replaced in the last 10 years, updated wiring and plumbing. There are no immediate needs on the interior as well. From what others are telling me 12-15% of gross rents seem to be a common practice.
What are you using???
Thank you in advance