Why cost per year
A cheap repair that fails again next year can cost more than a replacement that lasts a decade. Dividing each option by the years of use you expect gives you a fair comparison between a small bill now and a large one.
The 50 percent rule
A common rule of thumb says to replace when the repair costs half or more of a new one and the item is past the middle of its life. It is a quick screen, not a law. The calculator shows what the rule says next to the numbers so you can see whether they agree.
Things the numbers do not capture
- Tenant impact. A unit without hot water or heat is an urgent problem. Speed can matter more than the cheapest option.
- Efficiency. A newer unit may cut energy or water bills. Enter that as yearly savings if you know it.
- Selling or refinancing. Updated systems can help at inspection time.
- Warranty. A new item usually comes with one. A repair may carry only a short guarantee on the part.
Keep a repair history
The best predictor of the next failure is the last few. Dr. Landlord keeps every maintenance ticket and the cost of each repair by property, so you can see which items keep coming back. See the pricing or start free. For the bigger picture, try the rental cash flow calculator.
An estimate for planning only. Get a quote from a licensed professional for major systems.