Rental Repair Forecaster

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Below are some examples how the forecaster gets you thinking and planning ahead...

  • HVAC: There's an estimated seven years (84 months) before you might need to replace the HVAC. If it'll cost $10k to replace, then you'd need to save $120 per month (e.g. 10,000 / 84 = 119.05). However, since you already have $1k in reserves. Then, you'd only need to save about $110 per month (e.g. 9,000 / 84 = 107.14).
  • Windows: There's an estimated seven years before the windows might need to be replaced. So, if it'll cost $10k to replace all your windows, then you'd need to save an additional $120 per month. That means, if you save $230 per month, in seven years you'll have enough reserves to replace your HVAC and windows.
  • Roof: Using the same replacement cost of $10k... you know to save an additional $120, which now brings your total monthly savings to $350 per month, so in seven years you'll have enough to replace your HVAC, windows, and roof. 
  • Driveway: Now, depending on size, type, and location. You'll have to make a judgement call on how you want to go about this... For example, costs will vary whether you have a long concrete driveway or a small asphalt parking lot. If you can't make an educated guess than get some quotes. If you have light traffic, no potholes, no big trees/roots lifting, or sinking, or cracks, etc; then maybe just contribute an extra $15 monthly (e.g. 15 x 84 = 1260). So, that's now a grand total of $365 per month you'll need to save. With this plan, you'll ensure you're prepared in seven years; in the event you need to replace your HVAC, windows, and roof (along with the possibility of some light maintenance to your driveway).
  • ​Fire extinguishers and smoke detectors: Lastly, even though the costs are minimal compared to the major items above, it's important to always keep fire extinguishers and smoke detectors in good working order. These things can save lives and protect assets.

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