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Updated over 7 years ago on . Most recent reply
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Ways to upsell "extras" to raise monthly rental income?
I was wondering if anyone has been successful "upselling" rental income by offering extras to boost monthly rent. I'm thinking things like extra $ for optional wash/dryer, stainless frig, security alarm, even a flatscreen TV....whatever.
I've heard stories of this strategy so higher monthly rent continues well after the desirable "extra" item's cost is paid for.
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- Real Estate Investor, Flipper, PM, vacation rental, Wholesaler
- Athens, GA
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Even basic services such as pest control, lawn care and trash service, I have charged for all of these as "options". Message me and i'll send you the lease addendum that I use.
Heres' a sample... Remember that NOT A LAWYER! NO LEGAL ADVICE:
Side note to BP users: I would love to see more people sharing their actual clauses so the advice on the forums can be immediately reduced to practice...
LEASE ADDENDUM
This addendum is added to and amends that certain agreement by and between ____________ _________ __________, and ________________________________________ ______________________________________________________________as Tenant(s) and which agreement is dated __ of _____________, 2014 for rental of the residence at the address known as _________________________ Athens, GA. Said agreement is amended as follows:
- A.Lawn Service is / is not included in the rent. At the tenant’s request, landlord can coordinate professional service at the cost of $____ / month for the growing months required (March-October). If the city serves a Grass warning, the landlord will immediately comply and charge the tenants a $150 fine.
- a.SERVICE is: REQUESTED____ DECLINED____ Already Included ____ Initial_____
- B.Pest Control is / is not included in the rent. At the tenant’s request, landlord can coordinate professional service at the cost of $25/month for a contract for the balance of the lease term for General Pest Control. Infestation pest control (German roach, bed bug, wildlife, rodent, etc) is not included and will be paid by tenant as needed.
- b.SERVICE is: REQUESTED____ DECLINED____ Already Included ____ Initial_____
- C.Trash Service is / is not included in the rent. At the tenant’s request, landlord can coordinate professional service at the cost of $25/month for a contract for the balance of the lease term for Waste Services. Tenant agrees to keep the exterior of the property at the above address in a clean and orderly state. Tenant agrees to maintain all refuse/debris/etc in appropriate waste receptacles and/or recycle containers. If this rule is violated, tenant will be assessed a $25 fee, in addition to any fees for cleanup, plus those levied by the waste management services or municipal authorities.
- c.SERVICE is: REQUESTED____ DECLINED____ Already Included ____ Initial_____
- D.All fees for services requested above are paid a minimum 1 month in advance & due with rent. The penalties described above are considered due immediately upon notification. Fees and Penalties will be assessed as late rent with applicable late fees if left unpaid. The fees in this addendum are in addition to those described in the original lease.
Signed and in full effect this _____ day of ___________________, 2014.
(Tenant)______________________________ (Tenant)______________________________
(Tenant)______________________________ (Tenant)______________________________
(Landlord)____________________________ (Landlord)____________________________