Do you like making money? Obviously, this is a rhetorical question, as almost everyone likes to make money. Do you like making lots of money? Most landlords involved in Asheville rental property management would say yes; otherwise, why would they have chosen a field that requires so much work on their behalf? However, they may have reached a plateau with respect to their rental income, so they may not know how to generate more rental income. If you would like to turbocharge your rental income, consider following these helpful tips from Asheville property management companies:
- Solicit advertisers for your newsletter: You will be much more excited about publishing your community newsletter if you know you’re making money from it. Pizza companies love to advertise in apartment newsletters because they can deliver many pizzas in only one trip.
- Rent out the community center or pool: There are times when no one is using these amenities, so why not make some money from them?
- Subdivide the property: If you have an old house with some huge rooms, put up some drywall and make new, smaller rooms. You can charge much more for the two rooms than you could for the one undivided room.
- Offer furnished apartments or houses: Furnished apartments and houses command much more rent than unfurnished properties. You will have to make an initial investment, but you should be able to turn a profit in less than a year.
If you have additional questions about increasing the income from your rentals, Tons of Rentals Management in Asheville is happy to help.