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Updated about 4 years ago,
Adding value to properties for landlords and tenants
Bigger Pockets Community!
Here goes my first post. I am new in the realm of real estate investing and exactly why I am turning to you all more seasoned investors with questions. However, I can relate to most of these questions from renting properties over the years.
So this is for all real estate owners as well as anyone who has rented or owned property before (I realize this is a majority if not all of the population.. my point exactly)
Real Estate Owners:
- -How have you over the years tried to add value for existing and future tenants?
- -Has this additional value added to the property increased your cash flow on the property?
- -What are creative ways you all have increased cash flow to existing properties aside from updating appliances, painting, and other general internal renovations?
- -What are other alternative methods of increasing cash flow besides 1. increasing rents and 2. decrease property expenses? Are there even alternatives to adding cash flow to properties besides the 2 options mentioned?
- -What are ideas you have had to try and generate more cash flow from properties with current tenants that you either have implemented or haven't over the years? If implemented did they work? Why or why not?
Renters:
- -How have your landlords over the years added value to the home or apartment you were living in? Was this additional value added at no cost or did they give you the option to have it at an additional cost?
- -Where do you see room for landlords to add value to your current home? Is this additional amenity worth paying an additional amount for it or not?
- -Have you had any friends or family renting that were provided with additional amenities for additional costs that you wish you could have currently?
I know there is a lot in here but I think there is a lot of opportunities to give tenants more value to the place they call home as well as add more value to investors' bottom line.
Thanks!