Forced appriciation - How to improve your cashflow.

[Joachim Lassen]

So I have bought my first 5 plex. And I would like some inspiration on how to improve cash flow. I will, however, try to make the thread as wide as possible, so that many people might find things that they can use. Thus I just want to hear as many suggestions as possible. Here are a few I'm planning to do:

1) Add meters. Not everything is metered in the building. I'm looking to meter everything - warm water, cold water, and electricity.

2) Remove grass. Grass is high maintenance. On the property, there is a small patch of grass that needs mowing 1-2 times a week. I'm planning to remove it and instead place some nice granite gravel, this will improve the overall look and the tenant that now mows it for the price of free electricity, will instead pay for all utilities and I will spray it twice a year with some kind of weed remover. 

3) Decrease cleaning. When I took over the property, there were cleaners coming 2x a month for a total price of 800$ a year. I decided not to continue the contract and clean myself for a few months just to get an idea of how long it took and how often it was nassacery. I found that you can decrease the amount of cleaning to 1 time a month and not end up with a pigsty without any problem. Thus I should be able to cut the cleaning bill by 400$

I'm looking at improving storage space and renting it out. 

So let me hear how you have cut costs or increased revenue? Did you rent out a parking spot? Installed a new kitchen?