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Real estate investors can consult the county assessor to get the exact figure for current property taxes, which could be different from what the seller lists. Others, such as emergency appliance replacements, are more unpredictable, so real estate investors should allow for some surprise expenses.Ĭheck out Mynd's rental income calculator to estimate your returns and cash flows. ![]() Owners should be sure to know which ones are tax deductible. Some operating expenses are fairly predictable, and the property owner should be able to budget for them regularly. Using the square footage rule, set aside $1 per square foot per year. Using the 1 percent rule, set aside 1 percent of the property value per year. Using the 50 percent rule, set aside half the annual property rent. Property managers have rules of thumb for estimating annual rental property maintenance expenses. In a worst-case scenario, they could be forced to sell their rental property at a loss in order to stop the bleeding. Without a way of estimating rental property expenses, an investor planning to turn a profit may instead be looking at red ink. ![]() Average and unexpected maintenance costs for a rental property | Mynd Management Skip to main contentīefore buying real estate, it's essential for investors to know realistic rental property maintenance expenses.
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