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How to Unlock More Revenue from Your Rental Property

Are you interested in earning more money from your rental property? If so, you’ve come to the right place!

In this article, we will share with you our best tips for “unlocking” more revenue from your Southern California rental property.

Tip #1 – Add Washers and Dryers to Your Rental Property

If your rental property doesn’t have washers and dryers, installing new coin-op washers and dryers is another way to earn a revenue stream from your rental because laundry needs to be done weekly and most people would rather do laundry at home than at the laundry mat.

Tip #2 – Build A Storage Space

Everyone from the largest management company in California to the smallest San Diego property management company, will agree that another great way to get extra revenue from your rental property is to build a storage space on site, or off-site, because most renters have extra belongings that they are storing and would gladly pay you $50 or more per month to store those items for them.

Tip #3 – Offer Rental Furniture

Although most rental properties these days come unfurnished, you can easily add another revenue stream by offering rental furniture. Doing this will make your rental appealing to score of new tenants, including students, who are just getting started in life and may not have any furniture.

Tip #4 – Install Vending Machines

Yes, vending machines are another handy way to establish an extra revenue stream especially if the vending machine offers things that might be needed quickly like laundry soap, dishwasher soap, or toilet paper.

Learn More

To learn more ways to get extra revenue from your rental property, or to speak with us about our property management service, contact Utopia Management today by calling us at (800) 294-4656 or connect with us online through our website.

Elly Johnson stands at the forefront of content research and online branding at Utopia Management. As the Content Marketing Manager, she delves deep into understanding local real estate and rental markets, fueled by her passion for travel and keen research skills. Elly is dedicated to empowering individuals with the knowledge they need to make informed decisions about where to reside. A proud alumna of the University of South Florida, located in the vibrant heart of Tampa Bay, she holds a Bachelor of Arts in Psychology. Her academic background and extensive travel experiences uniquely position her to provide insights that resonate with diverse audiences.

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