New deal
← Back to settings

Standard Expenses Library — calibrate from our portfolio

These LOW / MED / HIGH bands drive every underwrite's Standard-LOW/MED/HIGH methods. The Portfolio columns show what our owned multifamily properties actually run at per unit — Adopt copies those into a line's bands.

Benchmark slice ⚠ thin sample loading…
Line LOW MED HIGH Note House Standard Portfolio $/unit (p25 · med · p75) n
Less: Vacancy
% of income
5-15%
Depends on market
 — %-based, not benchmarked
Less: Bad Debt
% of income
1-8%
Depends on market
 — %-based, not benchmarked
Salary / Payroll
per unit
$1,000-$2,000
Depends on number of units and whether staff are shared across a portfolio.
G&A
per unit
300-500
Biggest variable is legal.
Insurance
per unit
$300-$1,000
Could be even higher in Florida and other coastal / high-CAT markets.
Unit Turnover
per unit
Can be included in R&M — do not double-count it.
R&M
per unit
$750-$1,250
Depends on age of building. CT average runs 750 + 250 placement reserve.
Contract Services
per unit
$100-$600
Main factors: hallways, landscaping, snow, elevator, pool.
Utilities
per unit
$50-$2,000
Depends entirely on which utilities the landlord pays.
Trash Removal
per unit
$200-$400
Average number of bedrooms drives volume.
Marketing
per unit
It is more of a per-property than a per-unit cost, so sanity-check the total against unit count rather than trusting the per-unit figure.
Real Estate Taxes
% of income
$100-$6,000
Every locality is different, and many reassess on transfer.
 — %-based, not benchmarked
Other Expenses
per unit
Property specific.
Property Management Fees
% of income
3%-5%. Often there is a floor, so check the management agreement on small properties.
 — %-based, not benchmarked
Placement Reserves
per unit
Add reserves even where the lender does not require an escrow.
Edits apply to future underwrites (existing pro-formas recompute on next open).
esc
↑↓ navigate ↵ open
Static demo · synthetic data · read-only  ↩