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

---

New Homes in Ridgefield

Location:Frequent travelers will absolutely delight in this town! As part... Read More

Flipping Fixers: Using Transformation Psychology for Top Dollar

Satisfying and lucrative real estate investment depends upon your correct... Read More

Real Estate Investing Works In Your Area Too!

I hope you had a spectacular weekend!Things have been going... Read More

Buying Your First Investment Property

"Begin With The End In Mind"I first heard the phrase... Read More

Real Estate Investing with Bad Credit!

By being creative, you can play the game of real... Read More

Apres-Ski

European tax haven Andorra enjoys the same fiscal benefits as... Read More

Seller Objections To Lease Purchase

A large percentage of the mail we receive are from... Read More

Listing Real Estate Online - Top Tactics for Boosting Sales

Listing real estate online can be a great way to... Read More

An Often Overlooked Secret of Marketing and Negotiating for Real Estate Investors Looking for Deals

When you call sellers, what do you say? When you... Read More

Canal Front Homes in Venice

A bit about VeniceVenice, Florida was named by an early... Read More

How Home Buyer Rebates Work

In today's tight housing market, many buyers are looking for... Read More

Selling Property - Valuing Your Property

Selling property privately has many advantages over using an estate... Read More

Get To Know About Building Codes & Town Planning Applications, If You Want To Build A House

These are real building questions that I received from readers... Read More

For Sale By Owner - Use This Tip To Sell Your Home Quicker and At a Better Price

Your house is for sale by owner (fsbo), Along with... Read More

Real Estate Investing - So You Want to be a Landlord!

Is landlording the way to go if you are starting... Read More

10 Tips to Sell Your House Faster!

Here are some Handy wee Tips to help you Sell... Read More

Where is Florida Investment Property

Florida Investment Property ? Why Investing is a Wise Decision... Read More

Loan Officer Training: Learn How To Shape Realtors Perceptions

In medicine, a placebo is a pill that you think... Read More

Zero Down Real Estate Investing

Zero down? Why would a seller want to walk away... Read More

How Much Home Can You Afford In Todays Market?

If you haven't figured your credit worthiness and borrowing power... Read More

Investment Concerns for Selling Your Home

Besides the emotional upheaval of uprooting from your home, your... Read More

How To Best Negotiate A House Deal

Whether it's selling your home or buying a home, more... Read More

Building A Home? Want To Ask A Builder The Right Questions - Not The Dumb Ones!

These are real builder questions that I got from readers... Read More

Can I Sell My Private Mortgage Notes?

In this country millions of homes are sold every year.... Read More

Preparing To Make A Zero Down Offer

I'm going to focus... Read More

Grab Your Dream UK Home On The Cheap - Property Auctions

Did you know that every year thousands of UK properties... Read More

Finding, Fixing, Financing, and Flipping - The Short Course

Most people get involved in Real Estate investing to make... Read More

Lock In Big Profits By Offering Rent To Own Deals

Why would anyone accept a lease option, rent to own... Read More

How To Get Started In Preconstruction Investing?

Through our website the most common question that we receive... Read More

Do Bankers, Bubble, Discounters, & Justice Department Cloud Real Estate Industry?

Once relegated to the classified advertising section of the local... Read More

Real Estate Investing: How to Choose a Lender

To become a successful real estate investor it's vital to... Read More

Branded Email in the Real Estate Industry

Branded Email in the Real Estate IndustryYou're in the real... Read More

Negotiating the Real Estate Contract

Negotiation is the process of communication back and forth in... Read More