Operating Budget

Tentunit Template Library · Version 1.0 · [TEMPLATE — review before use]

Important: This is a general-purpose template provided for convenience under the Tentunit Templates Disclaimer & Jurisdiction Notice. It is not legal advice and is not state-specific unless expressly labeled. Landlord–tenant requirements (notice periods, day counts, service methods, disclosures) vary by jurisdiction and change over time. Verify against current local law — or consult a licensed attorney — before use. Complete every [BRACKETED FIELD] and delete instructions in italics before sending.

Property: [PROPERTY ADDRESS / PORTFOLIO NAME] Budget Year: [YEAR] Prepared By: [NAME] · Date: [DATE]

Complete the annual column first, then spread amounts across months (evenly, or weighted for seasonal items like utilities and landscaping). If the table is too wide for your workflow, keep quarterly columns instead — the structure is what matters.

Annual Budget by Category

Assumptions

Document the assumptions behind each number so the budget can be reviewed and revised. Typical guidance:

• Gross scheduled rent: [MONTHLY RENT] × 12 per unit at full occupancy, plus scheduled increases of [PERCENT]% effective [DATE]. Base this on current leases plus market rates for expected turnovers.
• Vacancy allowance: [VACANCY %]% of gross scheduled rent. Commonly 5–10% depending on market and turnover history; use your actual historical rate if available.
• Maintenance & repairs: [AMOUNT OR % OF RENT]. Common rules of thumb: 1%–2% of property value per year, or 5%–15% of rent, higher for older properties.
• Capital reserve: [AMOUNT PER MONTH]. Reserve for roof, HVAC, water heater, flooring, and appliances based on remaining useful life — a simple method is replacement cost ÷ years of life remaining, summed across major components.
• Property taxes / insurance: based on [CURRENT BILL / QUOTED PREMIUM], with [PERCENT]% assumed increase. Check for pending reassessments.
• Management fees: [PERCENT]% of collected rent plus [LEASING FEE] per new lease.
• Other assumptions: [NOTES]

Approved by (owner signature): ______________________ Date: [DATE]

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Provided by Tentunit — see the Templates Disclaimer & Jurisdiction Notice at help.tentunit.com/policies/templates-disclaimer.