It’s not always easy being a property investor.
And budgeting for your investment property can be hard work.
So here’s a little trick you might like.
When you first buy your investment property, we recommend that you complete a proactive maintenance plan with your property manager.
Sit down with your property manager (on the phone, on video or in person) and map out the expenses you can expect over the next 10 years.
Yes, 10 years!
Then, you can break down those expenses into annual, monthly or even weekly expenses.
It makes managing the budget on your investment property so much easier.
And it’s even easier if you work with a property management company (like us 😉) who can help you with these calculations and budgeting every single month as they rent comes in.
We can help you set aside small amounts of money each week or month, so that when it’s time for big expenses (like replacing carpet, doing a fresh coat of paint, or if the hot water system bursts) you won’t feel so stressed about the budget.
Want to see how this budget is done?
Send us a DM and we’ll show you!