# Monthly OpEx — Portfolio Operating Expenses

OpEx is what separates revenue from NOI (operating profit). Maintenance, administration, insurance, and taxes are the four main components. Well-controlled OpEx is as important as high occupancy.

## Where to find it

Add up maintenance + administration + insurance + taxes for the month, from your accounting or portfolio expense spreadsheet.

## If it's off

Uncontrolled OpEx can consume NOI even when the portfolio is full and collecting. Maintenance costs in particular have a natural tendency to grow without a preventive review system.

## LATAM Benchmarks

| Status | Range |
|---|---|
| Healthy | OpEx < 35% of effective revenue |
| Alert | 35–50% of revenue |
| Critical | > 50% of revenue (very compressed NOI) |

## How to improve it

Preventive maintenance has 3–5× ROI over reactive. A fixed monthly budget per unit for preventive maintenance reduces emergency costs and extends asset useful life.

Related metrics: [Monthly Rent per Unit](https://www.uniteconomicscalculator.com/en/glossary/market-rent-per-unit.html) · [Physical Occupancy](https://www.uniteconomicscalculator.com/en/glossary/physical-occupancy.html) · [Collection Rate](https://www.uniteconomicscalculator.com/en/glossary/collection-rate.html)

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