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How To Make More From Your Rental Property


Do you own a rental property? Or are you thinking of owning one? Ever worry about how to increase your profits without losing renters? You can make more money every month without raising the rent! Now your thinking about it, aren't you? Let me give you just a few suggestions that may help increase your profit each month without losing those renters.

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Do you have awasher and dryer hookup? Most renters don't have the money to buy a washer and dryer, so they end up driving to the local coin-op. How about contract with a local coin-op to install them in each of your units and split the profit? It is a win-win for everyone involved. With this suggestion there is also a benefit that most owners of rental property haven't thought about, that I suggest to all my income property owners. By offering this service, you have it written in to the rental contract that you will enter the home once a month and collect the change from the machine. By doing this you can also do a visual inspection of the unit every month. This will help keep illegal activity to a minimum if not stop it all together.

How about a rent to own situation? This is a great profit center for a lot of owners! The main reason this is such a great deal for investment property owners is that most rent to own buyers can not get regular financing through a bank or lending institution. But by offering them a chance to purchase with a NON-REFUNDABLE deposit you can charge them a higher rent and about 70% the time after just a few years they change their minds and move on. You get the deposit and also the benefit of higher rents for the time they were there.

Always think outside the box when it comes to getting more from your rental properties. There are always waysto make more money that do not involve charging more rent. Ask your Realtor
® about ideas they may use or have heard being used on other rental properties in the area.

Want even more out of the box ideas to make money?

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TheEmpoweredInvestor.com

Respect Realty LLC (Expect More)

 

At Respect Realty, LLC our agents believe in 100% dedication to client satisfaction.  We specialize in property and land acquisition around the Portland Metro and Vancouver, WA area. We delight in working with first time home buyers and sellers to guide them from start to finish. Our doors are always open and we are always happy to assist you with your real estate questions.

 

Reach out today, we look forward to talking with you!

 

Todd Clark and Seraina Aguayo (Owners of Respect Realty)

Respect Realty LLC (Expect More)

(503)564-3130

info@RespectRealtyNW.com

www.RespectRealtyNW.com

 

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Comment balloon 0 commentsRespect Realty LLC • January 11 2007 02:56PM
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