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.
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.