So you have some rental properties but you can’t seem to make sufficient income. You can always raise the rent, but you don’t want to do that “just because you feel like it.” If tenants leave, income goes down, not up. Today’s Top Ten list deals with how to earn more rent-related income…without looking like a plantation owner.

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.

Rent extra parking interval.

Raise the rent. Sincerely speaking, this might be a excellent thought provided you do the research initially on the rates for similar housing. Are you renting at below-market rates?

Rent storage sheds. This is especially applicable for smaller apartments, where your renters may need extra interval for their things. Don’t allow that extra income to slip away. Install some sheds and let it go your way.

Lay down the law and charge those late fees. It is perfectly honest to have a fee for late payment of rent, and guess what? Most of the time, those notorious late payers couldn’t give a fraction of a hoot because they often adapt the same simple-going attitude to life as they do to their rent payments!

Offer improvements for rent increases. Offer some clean perks to your tenants for that nominal increase, say, possibly a new dishwasher for an extra $25 rent a month. If you pay via installments on your credit card, it’s not even going to cost you $25 a month to pay for it!

Have vending machines on the material goods. For those who own larger rental properties, you can subcontract as well and share profits with third parties who can install these handy machines.

Rent by the room. One clean trick you can try with, for instance, a four-bedroom house, is to charge rent and utilities on a per-room basis. A lot of landlords have found gold in college towns thanks to this technique. Maintenance, though, is another report altogether.

Rent-to-own sale. Most of the time, landlords charge a non-refundable deposit and above-market rent, right? Most of the time, renters would do a 360 and high-tail it out of there, and once they do, you get more cash flow and the deposit to keep. It isn’t rocket science, and it’s especially effective when cash is on the fleeting side. You can either sell or get a more lucrative cash flow as you go along – simple!

Cut your losses. More expenses mean less net profit – even a dropout can figure that out. Do a simple cost analysis by writing down each of the expenses on your rental properties. How these costs can be reduced is all up to one person – YOU!

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Tagged with: Coin Operated Washing Machines • Dishwasher • Extra Income • Finance • Fraction • Guess • Hoot • Improvements • Installments • Investing • Landlords • Late Fees • Neat Trick • Parking Space • Personal Finance • Plantation Owner • Real Estate • Rental Properties • Room Basis • Share Profits • Technique Maintenance • Third Parties • Top Ten List • Vending Machines

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