The real answer is it all depends on the property. In general we would service the furnace, clean gutters, check smoke detector batteries, maybe a yard cleanup if the tenants don’t do a good job and those items typically run $300-$500 annually depending on the property. If they have a old property with a lot of deferred maintenance it would be more. If there is a landscape service taking care of the yard that would be additional. An owner also may want to be putting some money away each month for bigger items when they happen (Water heater, roof cleaning, broken dishwasher, faucet or toilet repair) $50-$75 a month is probably a good safe forced saving plan for maintenance. The amount really depends on the property, but what is super important is to make sure you have a budget and keep up on the routine maintenace item on the property, this will go a long way in preserving the asset and maximizing the value of the investment.
– Jeff, Owner | 24/7 Properties