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Rental Properties: 10 Ways To Increase Income
What if you want better cash flow from your rental properties? You can't just raise the rents arbitrarily. If tenants leave, income goes down, not up. There are other ways, though, including the ones listed below. 1. Install coin-operated washing machines. Even if you don't have the money to do this yourself, you can find a company that will do it for you, and share the income with you. 2. Rent extra parking space. When I got tired of a renter's extra car, I just started charging a weekly fee. Then I didn't mind so much. 3. Raise the rent. Okay, we did dismiss ARBITRARY rent hikes as a cash-flow solution, but check on the rates for similar units. Are you renting at below-market rates? 4. Rent storage sheds. Especially if your apartments are small, your renters may need a place to store their things. Don't let them spend their money elsewhere. Put a few sheds on the property. 5. Enforce late fees. It is perfectly fair to have a fee for late payment of rent, and guess what? Those who are chronically late usually don't even mind - they just don't look at these things the same way as others. 6. Offer improvements for rent increases. If it's worth $25 more monthly rent to a tenant, install that dishwasher. Even on a credit card you'll pay less than that per month for it. 7. Install vending machines. If your rental properties are large enough, others will do this for you for free, and give you a share of the income. 8. Rent by the room. A four-bedroom house might make more money if you include all the utilities and rent by the bedroom. This has made a lot of fortunes for investors in college towns. It does mean a lot of management, however. 9. Rent-to-own sale. Usually there's a non-refundable deposit, and higher than market rents in these deals. When renters change their minds, as they often do, you got the deposit and better cash flow. This is great when poor cash flow makes you want to sell. You either sell or get the better cash flow as you repeat the process. 10. Reduce expenses. Every dollar of expense you cut goes straight to the bottom line. List every expense of your rental properties, and look at them one at a time. How can you reduce them? Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com
MORE RESOURCES: Vince Vaughn's Rental Real Estate Portfolio Has Allowed Him To Weather Hollywood. Here's How He Invested His Money Yahoo Finance Dubai feeling the strain of explosive growth as real-estate prices soar and roads are choked with vehicles New York Post ‘Unfiltered’: NAR lawyer on settlement do’s, don’ts — and risks Real Estate News China Vanke Forecasts $6.2 Billion Loss, Replaces Top Executives The New York Times How does Seacoast real estate market look in 2025? Lower expectations, experts say. Seacoastonline.com Countertrends: 70-year-old retail real estate operator sets construction record in 2024 Chain Store Age Clifford Chance Loses Two More Key German Real Estate Partners As Focus Shifts to Cross-Border Deals Law.com International Set real estate goals for the new year - Clayton Pioneer Real estate demands soar after fires Spectrum News 1 Real Estate Spotlight: 2025 could be another challenging year for development, but some projects inching toward ground breaking BizTimes Milwaukee New telemarketing rules on hold after appeals court ruling Real Estate News A strong finish for new home sales in December Real Estate News Wilton Real Estate Report: Jan. 1-23, 2025 Review — 12 Homes Between $305,000 and $2.1 Million Sold Good Morning Wilton Real Estate Transactions, Jan. 27 edition Hopkinton Independent Calling All Retail Real Estate Experts Globe St. REAL ESTATE: Braverman Los Angeles Business Journal Terravet Real Estate Solutions Expands into Atlanta Metro Area with $5.37 Million Acquisition of Three Veterinary Facilities Business Wire Man convicted of killing real estate entrepreneur in 2021 sentenced to life in jail The Times of Israel Real estate market puts squeeze on first-time buyers Northern Virginia Daily Naples area residential real estate inventory continues to increase Gulfshore Business An In-Depth Look at California’s Real Estate Market Using ATTOM ATTOM Data Solutions Why Real Estate Tokenization Isn't Working Yet - "The Defiant" The Defiant - DeFi News Death to Excel: The silent killer in your brokerage Real Estate News Downtown Columbus projects among proposals landing 'transformative' state tax credits The Columbus Dispatch Prime Palestinian real estate: Trump’s proposed Gaza ‘clean out’ mixes policy and profits People's World Alexandria Real Estate Equities: Q4 Earnings Snapshot The Washington Post Real Estate Transfers: January 27, 2025 The Owensboro Times Stock Market Crash: Nasdaq 100 Tanks 3.5% Amid AI Concerns Norada Real Estate Investments Attorney General Bonta Files Charges Against a Southern California Real Estate Agent for Price Gouging Eaton Fire Victims California Department of Justice Get Real Estate Investing Right With REIT ETF Trends Standard Real Estate Investments, Arrow Street Development close sale of 244-unit apartment building in downtown Indianapolis REjournals.com East Cobb residential real estate sales, Jan. 13-17, 2025 East Cobb News Luxury Real Estate Summit Returns with Power-Packed Speaker Lineup Amid Record Market Growth PR Newswire Real estate deal raises $850 million for AT&T’s network transition Dig Watch Updates Analysts Estimate KKR Real Estate Finance (KREF) to Report a Decline in Earnings: What to Look Out for Yahoo Finance Real estate professionals discuss call to action for 2025, and how to leverage investments newsindiatimes.com Rialto, CA real estate market update NewsBreak Prolman Realty Brokers 63,797-SF Office & Warehouse Lease Renewal in New Hampshire Boston Real Estate Times Camber Real Estate Partners and Invesco Real Estate acquire five-building industrial portfolio in Southwest NJ American Journal of Transportation 'Cheapest money you’ll ever get': House hacking flips the real estate script - Mortgage Professional 'Cheapest money you’ll ever get': House hacking flips the real estate script Mortgage Professional REIT Alexandria Real Estate posts higher Q4 FFO on resilient leasing demand By Reuters Investing.com GlobalLiving Companies Launches New FloridaLiving Real Estate Team at KW Suburban Tampa Business Wire Trump administration 'uniquely qualified' to solve housing problem, real estate expert says Fox Business Christie’ s International Real Estate Expands into Mexico’s Yucatan Peninsula with Leading Brokerage Firm GlobeNewswire Top real estate CEO says California is now battling a ‘triple threat’ no one has seen before Fortune Real Estate: Featured Property-3314 Volta Place NW Georgetowner Year kicks off with $13.5M sale Las Vegas Review-Journal Alexandria Real Estate Q4 FFO rises, revenue slips; maintains 2025 FFO guide (ARE:NYSE) Seeking Alpha Even China’s Property Stalwart Isn’t Immune From the Crisis The Wall Street Journal Dealer news: Sky doubles its Iowa stores; real estate investor enters auto retail - Auto Remarketing Paradise Valley's Real Estate Market Heats Up with Two Multi-Million Dollar Mansions Listed Hoodline Real estate: Alabama’s traditional seasonal slowing offers opportunities for homebuyers News Courier Housing Market and Mortgage Outlook January 2025: A Positive Trajectory Norada Real Estate Investments Marcus & Millichap Closes $10.75 Million Sale of Multifamily Property in Winthrop, MA Boston Real Estate Times Argosy Real Estate Partners: Analysis of its Qualified Opportunity Zone Investments Shows Job Creation and Positive Economic Impact The Eastern Progress Online 2025 US Real Estate Forecast... TheTradable Floor Space: What You Can Buy for About $750,000 Flathead Beacon Amazon signs largest office lease in this Miami neighborhood (Photos) The Business Journals EQT Real Estate acquires 12-building logistics assemblage located in key Northern Italian submarkets Institutional Real Estate, Inc. |
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