How Do You Maximize ROI on Your Rental Properties?

[Dexter Florendo Kalai Aspacio]

I'm curious about the various strategies property owners use to maximize the return on investment (ROI) for their rental properties. What tips and techniques have you found most effective in increasing rental income and property value?

[Bradley Buxton]

@Dexter Florendo Kalai Aspacio

Buy in the right location where people want to live and rents will continually increase. Look for properties with value-add opportunities that don't cost much money. For example, can you add a door to a family room. 
Think about your market and what people are willing to pay a premium for. For example in Reno, NV there are many homes with walkout basement areas that can be made into separate studio apartments that will get more rent than just the room in the house.

Also think about where you can cut costs, can you self manage, find a less expensive property manager, can you bill back expenses to your tenants. Install landscaping that super low maintenance and reduces water usage and looks nice.

Turnover and vacancy will kill your ROI along with capital expenditures, regular maintenance is important.