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Updated almost 5 years ago, 12/23/2019
Best ways to increasing rent/income for SFRs and small MFRs?
There may already be threads out there on this topic that I have not seen. But what do you find being the best ways to increase rent or generate more income for your SFRs and small MFRs? A few things I can think of at the top of my head is to:
1) Add leasing fee for additional occupants;
2) Offer landscaping services for a fee;
3) Allow for pets and charge pet rent (as long as you have durable materials in home to avoid faster wear and tear);
4) Update hardware in kitchen;
5) Change old light fixtures - make sure you have good light in the home;
6) Update doorknobs;
7) Repaint front door; and
8) Add outlets with USB ports.
I have heard some people mentioning that adding a smart thermostat can help increase rents - anyone have first hand experience?