We manage 65 properties. I need to know what is a "normal" or sensible budget? I know the budget would encompass Marketing, Upkeep of property, Routine Maintenance etc. How do I determine what the budget should be? Is there a formula?
Make your best guess and modify as you go. It's a learn by experience, trial and error thing. You might want to add the following items to your list: City utilities, reserve funds, landscape maintenance and replacement, common area expenses, vacancies, insurance, website creation and management, etc.
