• Home
  • Affiliate Disclosure
  • Contact Us
Technology | Software Reviews | Product Reviews | Internet Marketing
  • Home
  • Tech
    • All
    • Mobile
    Data Literate Workforce

    Significant Advantages Of A Data Literate Workforce

    What Is Data Literacy

    What Is Data Literacy And Why Is It essential For Every Business?

    Full Stack Development

    7 Tools And Technologies For Full Stack Development

    Salesforce Export Data

    Salesforce Export Data: Hevo’s Guide For Beginners

    Cloud-based CRM Software

    What Is A Cloud-based CRM Software

    Logistics Technology

    4 Benefits Of Incorporating Logistics Technology For Companies

    Surge Protectors

    Surge Protectors And How They Work

    Recruitment Assessment Tools

    Harver Tool Alternatives 2022: 10 Best Recruitment Assessment Tools

    Wordtune

    Wordtune Alternatives 2022: 10 Great AI-Powered Writing Tools

  • Fintech
    El Salvador

    El Salvador – The Country Where You Can Use Bitcoins Legally!

    Cryptocurrency Is Becoming A Financial Force

    5 Signs Cryptocurrency Is Becoming A Financial Force To Be Reckoned With

    What All You Need To Know For A Healthy Crypto Investment

    Easy Ways To Enhance Your Crypto Earnings

    India And Bitcoin News

    Can Bitcoin And Altcoin Replace Fiat Currencies?

    How College Students Can Make Money As Part-Time Crypto Traders

    What Is Candlestick In Trading?

    What Is Defi (Decentralised Finance)

  • Blockchain
    Cryptocurrency And Cyber Insurance: A Form Of Mutualism

    Cryptocurrency And Cyber Insurance: A Form Of Mutualism

    Crypto Loans

    4 Essential Benefits Of Crypto Loans

    Blockchain Security

    Why Blockchain Security Is Good For You

    Blockchain Technology

    Blockchain Technology Explained

    VC Funding For Blockchain

    3 Proofs That Blockchain Will Soon Revolutionize Mortgage Lending

    Blockchain Could Help Advertisers

    The Blockchain Could Help Advertisers Lock Up Our Attention

    Blockchain Technology

    How Blockchain Technology Is About To Transform Sharemarket Trading

    Deloitte's 2020 Global Survey

    Deloitte’s 2020 Global Survey: Blockchain Becomes Top Strategic Priority For Majority Of Organizations

    VC Funding For Blockchain

    Top Blockchain-Based Security Solutions In 2020

  • E-Commerce
    E-commerce Website Development

    Top Tips For Your E-commerce Website Development Process

    How To Make Money With Dropshipping

    How To Make Money With Dropshipping

    Digital Marketing For Ecommerce

    The Value In Investing In Digital Marketing For Ecommerce

    16 Best eCommerce Software Platforms For Online Business

    16 Best eCommerce Software Platforms For Online Business

    ecommerce ideas

    6 Things To Consider When You are Running an E-Commerce Business

    3dcart- ecommerce Platforms

    Best e-Commerce Software Platforms For Online Business

    starting a clothing business

    8 Things You Should Know If Starting a Clothing Business

    Use Bubble Wrap

    How To Use Bubble Wrap To Ship Fragile Items

  • Lifestyle
    Hoboken apartments

    Family-Friendly Activities In The Tri-State Area

    Harry Potter Costume

    The Best Harry Potter Costumes To Bring Your Magical Fantasies To Life

    fun things to do on birthday

    10 Amazing Things You Must Do On Your Birthday

    Better Hair Quality

    Women Need A Better Hair Quality All The Time

    Is Your Office Job Killing You Slowly

    Is Your Office Job Killing You Slowly?

    Healthy Work-Life Balance

    Top Tips To Maintain A Healthy Work-Life Balance

    arbie Sole Tattoo

    Barbie Sole Tattoo Trends Blowing Up On Instagram

    Dumbest Fashion Trends In History

    From Muslin Dresses To Corsets: 17 Dumbest Fashion Trends In History

    How to apply foundation in the best way

    How To Apply Foundation In The Best Way?

  • Inbound Marketing
    • All
    • Content Marketing
    • Email Marketing
    Grow Your Email List

    8 Actionable Ways (Tested) To Grow Your Email List In 2022

    Competitive Analysis

    A Complete Guide On Competitive Analysis For Beginners

    EDM Marketing

    How EDM Marketing Is Different From Email Marketing? Which One Is Better?

    The State of Digital Marketing in Bangkok

    The State Of Digital Marketing In Bangkok

    Meme Marketing

    Meme Marketing – Why Are Brands Smiling About It

    Better Content Marketing

    Top 14 Essential Tips For Better Content Marketing

    Email open rates

    Personalization In Email Marketing: How To Increase Email Open Rates?

    Tech Blogging: An Era Ends? Or, A New Begining!

    Blog Strategy For Sustainable Content Marketing Business

    Influencer Marketing

    How To Improve Your Content Strategy With Influencer Marketing

  • Online Marketing
    • All
    • Mobile Marketing
    • Search Engine Marketing
    • Search Engine Optimization
    • Social Media Marketing
    Knowing the SEO Basics

    Knowing The SEO Basics

    SMS Marketing Mistakes to Avoid

    SMS Marketing Mistakes To Avoid

    YouTube Marketing

    10 Ways How To Get Started With YouTube Marketing

    What To Expect from Technical SEO Services

    What To Expect from Technical SEO Services

    seo roi

    Why Should You Measure And Track Your SEO Success

    External Link

    What Is External Link, And How Does It Improve SEO?

    A Comprehensive Beginner’s Guide To Learn The Basics Of Digital Marketing

    How To Include External Links In Your Content To Boost Your SEO

    The Beginner’s Guide To Understanding Link Building And How It Can Boost Your Site’s Ranking

  • Software
    Salesforce: How Does It Work

    BigQuery To Salesforce: How Does It Work?

    Scheduling A Painless Job

    Top 10 All-In-One Automated Platforms That Make Scheduling A Painless Job

    Invalua

    Ivalua Alternatives 2022: 10 Best Spend Management Software

    Booket

    Booket Alternatives 2022: 10 Best Salon Management Software

    Recruitment Assessment Tools

    Harver Tool Alternatives 2022: 10 Best Recruitment Assessment Tools

    Wordtune

    Wordtune Alternatives 2022: 10 Great AI-Powered Writing Tools

    Eduflow

    Eduflow Alternatives 2022: 10 Best Learning Management Solutions

    Payroll process

    This Is How You Can Make The Payroll Process More Strategic And Organized

    Best HR Software

    How To Choose The Best HR Software For Your Work?

No Result
View All Result
  • Home
  • Tech
    • All
    • Mobile
    Data Literate Workforce

    Significant Advantages Of A Data Literate Workforce

    What Is Data Literacy

    What Is Data Literacy And Why Is It essential For Every Business?

    Full Stack Development

    7 Tools And Technologies For Full Stack Development

    Salesforce Export Data

    Salesforce Export Data: Hevo’s Guide For Beginners

    Cloud-based CRM Software

    What Is A Cloud-based CRM Software

    Logistics Technology

    4 Benefits Of Incorporating Logistics Technology For Companies

    Surge Protectors

    Surge Protectors And How They Work

    Recruitment Assessment Tools

    Harver Tool Alternatives 2022: 10 Best Recruitment Assessment Tools

    Wordtune

    Wordtune Alternatives 2022: 10 Great AI-Powered Writing Tools

  • Fintech
    El Salvador

    El Salvador – The Country Where You Can Use Bitcoins Legally!

    Cryptocurrency Is Becoming A Financial Force

    5 Signs Cryptocurrency Is Becoming A Financial Force To Be Reckoned With

    What All You Need To Know For A Healthy Crypto Investment

    Easy Ways To Enhance Your Crypto Earnings

    India And Bitcoin News

    Can Bitcoin And Altcoin Replace Fiat Currencies?

    How College Students Can Make Money As Part-Time Crypto Traders

    What Is Candlestick In Trading?

    What Is Defi (Decentralised Finance)

  • Blockchain
    Cryptocurrency And Cyber Insurance: A Form Of Mutualism

    Cryptocurrency And Cyber Insurance: A Form Of Mutualism

    Crypto Loans

    4 Essential Benefits Of Crypto Loans

    Blockchain Security

    Why Blockchain Security Is Good For You

    Blockchain Technology

    Blockchain Technology Explained

    VC Funding For Blockchain

    3 Proofs That Blockchain Will Soon Revolutionize Mortgage Lending

    Blockchain Could Help Advertisers

    The Blockchain Could Help Advertisers Lock Up Our Attention

    Blockchain Technology

    How Blockchain Technology Is About To Transform Sharemarket Trading

    Deloitte's 2020 Global Survey

    Deloitte’s 2020 Global Survey: Blockchain Becomes Top Strategic Priority For Majority Of Organizations

    VC Funding For Blockchain

    Top Blockchain-Based Security Solutions In 2020

  • E-Commerce
    E-commerce Website Development

    Top Tips For Your E-commerce Website Development Process

    How To Make Money With Dropshipping

    How To Make Money With Dropshipping

    Digital Marketing For Ecommerce

    The Value In Investing In Digital Marketing For Ecommerce

    16 Best eCommerce Software Platforms For Online Business

    16 Best eCommerce Software Platforms For Online Business

    ecommerce ideas

    6 Things To Consider When You are Running an E-Commerce Business

    3dcart- ecommerce Platforms

    Best e-Commerce Software Platforms For Online Business

    starting a clothing business

    8 Things You Should Know If Starting a Clothing Business

    Use Bubble Wrap

    How To Use Bubble Wrap To Ship Fragile Items

  • Lifestyle
    Hoboken apartments

    Family-Friendly Activities In The Tri-State Area

    Harry Potter Costume

    The Best Harry Potter Costumes To Bring Your Magical Fantasies To Life

    fun things to do on birthday

    10 Amazing Things You Must Do On Your Birthday

    Better Hair Quality

    Women Need A Better Hair Quality All The Time

    Is Your Office Job Killing You Slowly

    Is Your Office Job Killing You Slowly?

    Healthy Work-Life Balance

    Top Tips To Maintain A Healthy Work-Life Balance

    arbie Sole Tattoo

    Barbie Sole Tattoo Trends Blowing Up On Instagram

    Dumbest Fashion Trends In History

    From Muslin Dresses To Corsets: 17 Dumbest Fashion Trends In History

    How to apply foundation in the best way

    How To Apply Foundation In The Best Way?

  • Inbound Marketing
    • All
    • Content Marketing
    • Email Marketing
    Grow Your Email List

    8 Actionable Ways (Tested) To Grow Your Email List In 2022

    Competitive Analysis

    A Complete Guide On Competitive Analysis For Beginners

    EDM Marketing

    How EDM Marketing Is Different From Email Marketing? Which One Is Better?

    The State of Digital Marketing in Bangkok

    The State Of Digital Marketing In Bangkok

    Meme Marketing

    Meme Marketing – Why Are Brands Smiling About It

    Better Content Marketing

    Top 14 Essential Tips For Better Content Marketing

    Email open rates

    Personalization In Email Marketing: How To Increase Email Open Rates?

    Tech Blogging: An Era Ends? Or, A New Begining!

    Blog Strategy For Sustainable Content Marketing Business

    Influencer Marketing

    How To Improve Your Content Strategy With Influencer Marketing

  • Online Marketing
    • All
    • Mobile Marketing
    • Search Engine Marketing
    • Search Engine Optimization
    • Social Media Marketing
    Knowing the SEO Basics

    Knowing The SEO Basics

    SMS Marketing Mistakes to Avoid

    SMS Marketing Mistakes To Avoid

    YouTube Marketing

    10 Ways How To Get Started With YouTube Marketing

    What To Expect from Technical SEO Services

    What To Expect from Technical SEO Services

    seo roi

    Why Should You Measure And Track Your SEO Success

    External Link

    What Is External Link, And How Does It Improve SEO?

    A Comprehensive Beginner’s Guide To Learn The Basics Of Digital Marketing

    How To Include External Links In Your Content To Boost Your SEO

    The Beginner’s Guide To Understanding Link Building And How It Can Boost Your Site’s Ranking

  • Software
    Salesforce: How Does It Work

    BigQuery To Salesforce: How Does It Work?

    Scheduling A Painless Job

    Top 10 All-In-One Automated Platforms That Make Scheduling A Painless Job

    Invalua

    Ivalua Alternatives 2022: 10 Best Spend Management Software

    Booket

    Booket Alternatives 2022: 10 Best Salon Management Software

    Recruitment Assessment Tools

    Harver Tool Alternatives 2022: 10 Best Recruitment Assessment Tools

    Wordtune

    Wordtune Alternatives 2022: 10 Great AI-Powered Writing Tools

    Eduflow

    Eduflow Alternatives 2022: 10 Best Learning Management Solutions

    Payroll process

    This Is How You Can Make The Payroll Process More Strategic And Organized

    Best HR Software

    How To Choose The Best HR Software For Your Work?

No Result
View All Result
Technology | Software Reviews | Product Reviews | Internet Marketing
No Result
View All Result
Home Articles

6 Simple Ideas For Improving Your Rental Property Cash Flow

March 18, 2022
in Articles
You May Weight Low Room Rental Cost Against Higher Transportation Costs
Share on FacebookShare on Twitter

How to Lower Monthly Payments on Your First Home

Owning a rental property as an investment isn’t as easy as most outsiders assume. It requires a lot of hard work, due diligence, and ongoing maintenance. Thus, it makes sense that you’d want to maximize your profitability. The question is, how?

When it comes to increasing cash flow and bolstering your profit margins, it’s all about pulling the right levers. Here are a few that can produce some pretty impressive results when layered together.

1. Refinance to a Lower Rate

Interest rates on mortgages haven’t been this low in years. And the chances of them ever being this low again are slim. If you locked in a high interest rate several years ago and have yet to refinance, now is the time to do so. You could potentially save several hundred dollars a month just by shaving off a percentage point or two.

2. Bring Rent Up to Market Rate

How long has it been since you raised your rental rates? If it’s been a couple of years, you’re well within your rights to increase the monthly cost (within the legal limits of the contract you signed with your tenants). If you’re planning a significant increase, it’s best to do it incrementally. A little now and a little later makes it less painful for the tenant.

3. Improve Tenant Screening

Green Residential, a San Antonio property management company, believes tenant screening is one of the most important factors in rental property cash flow. (And they aren’t alone.) You can talk to anyone in the industry and they’ll back this up. If you want to stay profitable, attract good renters.

Thorough screening can seem like a pain in the rear at the time, but the long-term benefits are clear. Good tenants pay on time, take care of your property, and are more likely to stay in the property for a longer period of time.

4. Allow Pets on Your Property

If you aren’t already allowing pets in your properties, this could be a good way to generate some extra income. However, make sure you follow a very systematic plan. (Otherwise, it could end up being more of a hassle than a help.)

Real estate investor Matt Frankel suggests a two-prong approach: “First, charge a nonrefundable pet deposit that should cover a deep cleaning and any other potential damage — $250 seems to be an industry standard. And then consider tacking on ‘pet rent’ of, say, $25 to $50 (depending on your market) per pet per month.”

When you approach it from this direction, it removes most of your risk and transfers it to the tenants. This means they’re more likely to take care of the property.

5. Monetize Additional Services

Depending on the type of property you own, there may be additional ways for you to monetize services for tenants. Here are some ideas:

  • If your property is located in a busy city and the unit has a garage, you can charge extra for parking a vehicle. If the tenant doesn’t have a vehicle, you may reserve the right to rent the garage out to someone else.
  • If you own a multifamily property, consider putting a couple of washers and dryers on the property and charging for use.
  • Have an upscale rental property? Partner with a landscaping company to provide a weekly landscaping service to your tenants and add it to the monthly rent.

6. Minimize Turnover

Turnover is costly. Not only does it open you up to the risk of a prolonged vacancy (which erases your income altogether), but it also creates a laundry list of other expenses. This includes cleaning, deferred maintenance, tenant screening, and other one-time costs.

If you want to avoid expenses such as these, you must find creative ways to minimize turnover. As always, it starts with finding and keeping reliable tenants who show a propensity for being stable in their personal and professional lives. Once you find the right people, invest in those relationships. When appropriate, incentivize tenants to enter into longer-term leases (even if it means offering a discounted rate).

Maximize Your Rental Property’s ROI

There’s no magic button that you can press to instantly improve your cash flow by 10 or 20 percent. However, if you master the finer details, you’ll find it possible to increase cash flow and grow your rental business. Hopefully, this article has given you some food for thought.

Tags: Increase Rental Property Cash FlowRental Property Cash Flow
Previous Post

10 Best LMS Platforms To Create, Sell And Promote Online Courses

Next Post

15 Best Smartphone Gimbal Stabilizers For Vloggers, YouTubers And Instagrammers

Related Posts

Data Governance
Articles

What Exactly Is Data Governance, And Why Is It Important?

June 25, 2022
Data Literacy
Articles

Data Literacy: How It Can Be Help Your Organization?

June 24, 2022
Data Literacy
Articles

Data Literacy: What It Is And Why It Is Essential?

June 24, 2022
Data Governance Definitions And Process Flow
Articles

Data Governance: Definitions And Process Flow

June 22, 2022
Addiction Treatment
Articles

How To Talk To Your Loved Ones About Addiction Treatment

June 9, 2022
File A 1099 NEC
Articles

How To File A 1099 NEC

May 23, 2022
Emerging Fire Protection
Articles

Emerging Fire Protection And Suppression Technologies

May 6, 2022
Data Centers
Articles

Data Centers, Know Why It’s Important For Trading In Financial Markets Of Australia

April 22, 2022
Pair Of Battle Vision Storm Glasses
Articles

5 Reasons To Get Your Hands On A Pair Of Battle Vision Storm Glasses

April 21, 2022
Next Post
Best Gimbal Stabilizers

15 Best Smartphone Gimbal Stabilizers For Vloggers, YouTubers And Instagrammers

Recent Posts

Data Literate Workforce

Significant Advantages Of A Data Literate Workforce

June 25, 2022
Data Governance

What Exactly Is Data Governance, And Why Is It Important?

June 25, 2022
Data Literacy

Data Literacy: How It Can Be Help Your Organization?

June 24, 2022
Data Literacy

Data Literacy: What It Is And Why It Is Essential?

June 24, 2022
Data Governance Definitions And Process Flow

Data Governance: Definitions And Process Flow

June 22, 2022

Get Updates

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.
Loading

Disclosure

We sometimes use affiliate links in our content. This won’t cost you anything but it helps us to offset the costs of paying our writing team. Thanks for your support!

About Witszen

Witszen-logo

Follow Us

Useful Links

  • Home
  • Affiliate Disclosure
  • Contact Us

Browse by Category

Get Updates

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.
Loading
  • Home
  • Affiliate Disclosure
  • Contact Us

© 2022 Witszen

No Result
View All Result
  • Home
  • Tech
  • Fintech
  • Blockchain
  • E-Commerce
  • Lifestyle
  • Inbound Marketing
  • Online Marketing
  • Software

© 2022 Witszen