{
  "_meta": {
    "as_of": "2024-Q4",
    "kind": "illustrative",
    "label": "Illustrative national mid-band",
    "source": "Illustrative national mid-band ratios commonly cited in IREM Income/Expense Analysis and NAR landlord surveys — not market measurements; for comparison only.",
    "notes": "Round published-style bands as a percent of effective gross income (EGI). These are national mid-bands, not metro-specific OpEx. Do not treat them as measured local data. Total opex includes typical additional lines (utilities, admin, reserves) beyond the four itemized categories."
  },
  "basis": "percent_of_egi",
  "lines": {
    "taxes": {
      "label": "Property taxes",
      "low": 8,
      "mid": 12,
      "high": 16
    },
    "insurance": {
      "label": "Insurance",
      "low": 3,
      "mid": 5,
      "high": 8
    },
    "maintenance": {
      "label": "Maintenance / repairs",
      "low": 5,
      "mid": 8,
      "high": 12
    },
    "management": {
      "label": "Management",
      "low": 6,
      "mid": 8,
      "high": 10
    },
    "total": {
      "label": "Total operating expense ratio",
      "low": 35,
      "mid": 42,
      "high": 50
    }
  }
}