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Updated over 7 years ago on . Most recent reply
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Other than rent, what income streams do you get from your tenants
I make money from my tenants as many ways as possible.
I have coin op laundry in the units
I make money on credit repair for tenants.
I make money on the utility bill for my tenants. This one is my favorite.
I have some tenants who do rehab work for me in exchange for discounted rent that is much less of a discount than it would cost me to hire a handyman.
What other profit centers am I missing?
Most Popular Reply
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I "don't make money off my tenants". For me personally, that is a wrong attitude. It has me thinking that I am using the tenants. I prefer to think of it as making money from my rentals. That makes it less personal, and helps me to be a better landlord to my tenants.
My goal is to provide the best possible housing to my tenants. I do not overkill it. But I am not a slumlord. By providing comfortable, secure homes for my tenants I am able to attract good tenants (that do not trash out the place), who pay market rates and thus maximize my ROI, and by maintaining our properties we avoid costly deferred maintenance issues.