Additional Streams of Income

[Denayer Burns]

Wondering if anyone has found or offers any type of continuity programs to their renters to create additional streams of income?  If so, please explain.

[Joe Fairless]

@Denayer Burns  let's address your ultimate outcome of making more money from exiting properties a slightly different way. Instead of adding on incremental paid services perhaps look at incremental free services you can give them that way they stay longer and you can command a premium for rent. 

Example: 

- negotiate with a local business (or two, three, four...) an exclusive discount for your residents. You can then give your residents a Resident Card (print 250 at Vistaprint for $15) that they show at time of purchase. 

- I did this for a large apt community in Cincinnati and it helped reduce our turnover and increase our bottom line. Plus, it makes them want to renew to keep getting discounts and because I'm constantly adding more local biz. If you have a single family house rental then you can do the same program - you'll just need to find the right biz that wants to make more sales and grow with you as your portfolio expands.