Management
Maintenance Reserve
Funds set aside for property repairs
Full Definition
Maintenance reserve is money set aside for ongoing repairs and maintenance. Rule of thumb is 10-15% of annual rent for older properties, 5-10% for newer ones. This covers boiler repairs, appliance replacement, redecoration between tenants, and emergency repairs.
Related Terms
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Analyse a PropertyMore Management Terms
Letting Agent
Company managing property lettings and tenants
Void Period
Time when property is empty between tenancies
Rent Arrears
Unpaid rent owed by tenant
Tenant Referencing
Background checks on prospective tenants
Guarantor
Person agreeing to cover tenant's rent if they default
Rent Guarantee Insurance
Insurance covering unpaid rent from tenants