Tips For Earning More Money From Your Rental Property

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

 Even though your rental property is located in California, where we now have partial rent control across the entire State, the reality is that you can still earn more money from your rental properties, especially by doing the following.

#1 – Add A Washer And Dryer To Your Rental

Regardless if you own a single-family or a multi-family property, you should consider investing in a washer and dryer for your rental property. Why? Your tenant has to do their laundry somewhere so why shouldn’t they be paying that money to you, instead of a local laundry facility?

#2 – Start Allowing Pets

Another convenient way to earn more money from your rental property is by allowing pets.

You may have been against allowing pets in the past but, allowing pets is a great way to increase the revenue from your rental property because you can charge your tenant a pet deposit and monthly pet rent per each pet that they own.

Besides allowing pets to live in your rental property, you may also want to consider building a dog run as well. This will give your tenants the ability to exercise their dogs on the property and it will make your property more attractive to pet owners when it does come time for you to rent your property once again.

#3 – Offer Additional Storage At Your Rental

Last of all, but most important, another excellent way to earn additional income from your property is to add storage.

Storage is important because, in today’s world, the average person has a lot of stuff, and this includes that they don’t want to get rid of.

Since the average renter cannot always store all of their items at their property, the only solution is for them is to pay for a self-storage unit and this can cost them anywhere from $50 or more per month.

Thankfully, for landlords, this means opportunity because it’s easier than ever before to add more storage. In today’s world, modular buildings are inexpensive and every landlord can add additional storage to their property which will help them to increase their rental income.

Contact RPM Central Valley

For more tips on how to increase your rental income, or to speak with us about our property management services, contact us today by calling 209-572-2222 or click here to connect with us online.