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The 4% hurdle is still useful as a quick constraint. Annual gross rent is C$45,000. Four percent of C$722,200 is C$28,888, leaving about C$16,112 annually for vacancy, management, condo fees, property tax, insurance, maintenance and reserves before financing. Put the actual figures against that...

One approach is to hold a generous contingency; the other is to investigate every uncertain item before tender. Neither seems sufficient on its own for this Sydney project. The working budget is A$509,900 for renovating a 210 m² new-build flat. The planned work includes the kitchen and...

I think the bigger issue is that 4.0% is gross before almost everything. One vacant month reduces annual rent from AED 103,392 to AED 94,776 before service charges, management, maintenance and insurance. A repair reserve for the apartment is sensible, but it is not the same as the building’s...