We have a family business that owns few apartment complexes in the North Park Hillcrest area. Our operating costs are generally in line with the 45% statistic. The 45% statistic is from the annual income expense analysis put out by the Institute of Real Estate Management and National Apartment Association.
Perhaps you haven’t had any vacancies for awhile? Perhaps there haven’t been any repairs for awhile? Do you hire someone to manage the property or are you managing it yourself?
