With the housing market at bargain rates it may be hard to keep your rental units full of good tenants. You may have noticed that there is a decline in your rental revenue this past year considering the economy, especially if your unit has a low rating. Lower ratings mean lower occupancy rates which mean less rent revenue generated by your unit.
Depending on the type of property you own, there are a few things you can do to gain additional revenue from your rental.
You can rent your garage or your parking space because these days parking is very expensive and difficult to find.
You can also charge the laundry facilities in your house to increase your rental revenue i.e. you can charge for the machines that are being used by the tenants for laundry facilities.
You need to be proactive and put yourself out there as the leader in quality, appearance, and service and let people know that your property is the preferred brand, even if it isn’t.
Curb appeal is key, especially if you’re trying to get new tenants. Put yourself out there as the best place to live, so in this you’ve got to prove it from the surface.
You should have to point out the benefits or your apartment to the tenants. Create an attractive handout that the tenants can refer to throughout their tour and after they’ve gone home which has highlights mentioned and even photographs.
One of the most important aspects of refurbishing your property is to realize where you can get the most bang for your buck. You can consult any interior designer or a guide which helps you in th right direction so that the upgrades made by you are in your best economic interests.