Did you know that the average roof repair cost is $1,121, with most property owners spending between $386 and $1,873? That’s a lot of money for one property repair. Yet, having a sound roof on your Philly rental property is crucial to keeping your property and tenants safe and dry from the stormy weather that so often […]
Tag Archives: how to get the most money out of a rental property
26
Mar
Mar
When it comes to the appliances you provide your tenants, you’ve probably included the basics like a dishwasher, refrigerator, microwave, and washer and dryer. And if you want to maintain an edge on the competition, chances are you are offering top-of-the-line appliances that are environmentally friendly, modern, and potentially expensive. That said, it is extremely […]
27
Feb
Feb
Did you know that the country’s rent index increased at an annualized rate of 3.6% in 2017? At the time, that was a significant increase compared to previous years. However, since then, we’ve seen even larger increases. From 2021 to 2022, we saw average rents increase by 14.07%, one of the largest increases since 2017. […]
08
Feb
Feb
You may feel that investing in energy efficiency for your rental properties is not the best use of time and money. After all, you are not the one living in the property and, therefore, will not reap any of the benefits. However, you couldn’t be more wrong. Today, we’ll go over nine ways to increase […]
14
Dec
Dec
Investing in a rental home often means getting a great deal on a property that needs some upgrades. With the overall goal to make your investment property appealing in order to get the highest rent rate possible, it is sometimes necessary to go beyond fixing the required damages that exist; sometimes, you need to take […]
02
Nov
Nov
Rent increases are a normal and even expected part of any rental property business. Moreover, unless local law includes rent control policies, landlords are free to increase the rent as they see fit. While the goal for all investors is to make money, relying on rent increases to do so can easily backfire. Instead, […]
17
Aug
Aug
How to purchase rental properties largely depends on an investor’s individual financial situation and is often a matter of personal preference. Some investors prefer to finance and leverage money to be used elsewhere, including financing additional properties, and some prefer cash transactions. If you have a stockpile of funds to purchase in cash, there are many benefits […]
30
Jun
Jun
Preparing your rental property for the next tenant is critical to the success of your rental property business. Every renter does, and should, want to move into an impeccably clean home. However, even before that, prospective applicants do not want to tour a dirty property. After all, first impressions are lasting ones! So, presenting a clean […]
14
May
May
Improving or renovating your rental property is a great way to boost overall return on investment. Thus, not only helping to justify higher monthly rates but allow you to place higher quality tenants in your property. Furthermore, thoughtful upgrades can increase your property’s resale value. Understanding your rental property’s ROI will help you evaluate how […]
29
Sep
Sep
Buying your first investment property is a great way to boost supplemental income or even replace your traditional 9-5 day job. In fact, getting into the rental property business can be extremely lucrative, if approached the right way. However, it is vital as a first-time investor to not get caught up in the excitement of […]