By David Parks · eXp Realty · The Apollo Group · 2 min read
Many new landlords focus on rent and the mortgage, but overlook other costs. A realistic budget includes taxes, insurance, repairs, vacancy, and reserves.
No property is rented 100 percent of the time. Plan for some months without rent, and for tenants who pay late.
A common planning guide is to set aside funds each month for capital items and keep several months of expenses in reserve.
Use real quotes where you can. Ask your agent for local rent data and inspection results, and consult a tax professional about deductions.
This article is general information, not legal, tax, financial or inspection advice. Every home and situation is different, so confirm details with a licensed inspector, lender, attorney or tax professional.
David is a Greater Denver real estate advisor with eXp Realty and The Apollo Group (Colorado broker license FA100103211). He has closed more than $55 million in volume, earned eXp Icon status in 2025, and holds a 5.0 rating on Zillow from 27 verified reviews.
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