Frequently Asked Questions

Yes! All calculators on LandlordCalc.tools are 100% free. No sign-up required, no credit card needed, no hidden fees. We make money through advertising, which allows us to provide these tools at no cost to you.

Our rent estimator uses market data from 250+ cities across the US. Estimates are based on location, property type, size, condition, and amenities. However, actual market rent can vary significantly based on:

• Specific neighborhood within the city
• Current market conditions
• Property-specific features
• Time of year (rental markets fluctuate seasonally)

Use our estimates as a starting point, then verify with local comparables (comps) from Zillow, Rentometer, or local property managers.

Currently, our calculators don't save results automatically. We recommend:

• Taking a screenshot of your results
• Writing down the key numbers
• Using your browser's print function to save as PDF

We're working on adding a "Save Results" feature in the future!

No. All calculations happen entirely in your browser. We don't collect, store, or transmit any of the numbers you enter into our calculators. Your property data stays completely private.

Cap rates vary significantly by market:

• High-appreciation markets (SF, NYC, LA): 4-6% is typical
• Balanced markets (Denver, Austin, Nashville): 5-7%
• Cash flow markets (Midwest, South): 8-12%

Lower cap rates often come with higher property appreciation. Higher cap rates typically mean higher cash flow but lower appreciation potential. Choose based on your investment strategy.

Cap Rate: Return if you paid all cash (Net Operating Income ÷ Property Value). It ignores financing.

Cash-on-Cash Return: Actual return on the cash you invested (Annual Cash Flow ÷ Cash Invested). This accounts for your mortgage.

Example: A property with a 6% cap rate might have a 12% cash-on-cash return if you use leverage (mortgage). That's the power of leverage!

The 1% rule (monthly rent should be 1% of purchase price) is harder to achieve in expensive markets but still works as a screening tool:

• 0.5-0.7%: Appreciation plays, high-cost markets
• 0.8-1.0%: Balanced markets, decent cash flow potential
• 1.0%+: Strong cash flow markets

Use it as a quick filter, but always run full cash flow analysis with our calculator.

Industry standard is 1% of property value per year, but adjust based on age:

• New (0-5 years): 0.5-0.75% of value
• Recent (5-15 years): 0.75-1.0%
• Established (15-30 years): 1.0-1.5%
• Older (30+ years): 1.5-2.0%

Plus add 8-12% of maintenance budget for CapEx reserves (roof, HVAC, water heater replacements).

Yes, our security deposit data is updated regularly and includes official statute references. However, laws can change, and local ordinances may be more restrictive than state law.

Always verify with:

• The official statute link we provide for each state
• Your local city/county housing authority
• A local landlord-tenant attorney for complex situations

Most states allow late fees with restrictions:

• Must be specified in the lease
• Must be "reasonable" (typically capped at 5% of monthly rent)
• Grace period required in many states (usually 3-5 days)
• Cannot charge late fees on late fees

Use our Late Fee Calculator to see state-specific guidelines.

Eviction timelines vary widely by state and situation:

• Fast states (TX, FL): 30-45 days for uncontested
• Average states: 45-75 days
• Slow states (NY, CA): 60-120+ days

Contested evictions can take 3-6 months or longer. Budget for lost rent during this period.

Consider these factors:

• Good tenants: 2-4% annually (cost of living adjustment)
• Below market rent: 5-8% to gradually catch up
• Turnover costs: Typically $3,000-5,000 (vacancy + cleaning + repairs)

Use our Lease Renewal Calculator to analyze whether an increase is worth the risk of turnover. Often, keeping a good tenant at slightly below-market rent is more profitable than maximizing rent.

Standard assumptions:

• 5%: Well-managed property in stable market
• 7-8%: Average turnover, some challenges
• 10%+: High turnover, difficult market, or below-average property

Lower vacancy through: competitive pricing, good property condition, responsive maintenance, quality tenants.

Self-manage if:

• You live near the property
• You have time for tenant calls, maintenance coordination
• You have only 1-3 properties
• You want to maximize cash flow

Hire a property manager if:

• Out-of-state properties
• You have a full-time job
• You have 5+ properties
• Peace of mind is worth 8-10% of rent

Follow this checklist:

1. Learn your state's landlord-tenant laws (use our Security Deposit tool)
2. Get proper insurance (landlord policy, not homeowner's)
3. Set up accounting (separate bank account for the property)
4. Create solid lease agreements (use state-specific templates)
5. Screen tenants thoroughly (use our Screening Checklist)
6. Document everything (move-in/move-out photos, communications)

Typical costs for your first property:

• Down payment: 15-25% of purchase price ($30K-75K for a $200-300K property)
• Closing costs: 2-4% of purchase price ($4K-12K)
• Repairs/updates: $5K-20K (depending on condition)
• Reserves: 6 months of expenses ($10K-15K)

Total: $50K-120K to comfortably purchase your first rental property.

Look for properties with:

• Strong rental demand (near jobs, schools, amenities)
• Positive cash flow (rent exceeds all expenses + mortgage)
• Good bones (solid structure, avoid major repairs)
• Desirable location (safe neighborhood, good schools)
• Below-market purchase price (leaves room for profit)

Use our Cash Flow Calculator to analyze any property before buying.