Uncategorized 5 Tips to Make More Money From Your Rental Properties Dan Ochieng - May 23, 2022 0 If you’re a property owner, you may be looking for ways to increase your rental income. Here are 5 tips to help you make more money from your rental properties in Kenya. Canvassing local businesses to see if they would be interested in advertising on or near your rental property If you’re looking for ways to make more money from your rental properties, one option is to try canvassing local businesses to see if they would be interested in advertising on or near your property. This can be a great way to generate additional income, and it can also help improve the appearance of your rental property. If you’re not sure how to get started, here are a few tips: – Start by identifying potential businesses that might be interested in advertising on or near your property. These could include restaurants, supermarkets, service providers, and so on. Increasing rent gradually over time If you’re looking to make more money from your rental properties in Kenya, one strategy you can use is to gradually increase the rent over time. This way, you’ll keep up with inflation and ensure that your rental income keeps pace with the cost of living. Of course, you’ll need to be careful not to price yourself out of the market or push your tenants too hard, but a modest annual increase can go a long way towards boosting your bottom line. Providing additional services that tenants are willing to pay for, such as laundry facilities, parking, etc. Another great option to make more money from your rental properties is to provide additional services that tenants are willing to pay for. This could include laundry facilities, parking, or other amenities. By offering these services, you can increase your rental income and make your property more attractive to potential tenants. Investing in renovations and improvements If you’re looking to make more money from your Kenyan rental properties, one of the best ways to do so is by investing in renovations and improvements that will make your property more valuable and appealing to potential renters. By making even small improvements like painting or fixing up the landscaping, you can potentially increase your rental income significantly. And if you’re willing to put in a bit more work, major renovations like updating the kitchen or adding a deck can really boost the value of your rental property. Ensuring that your rental units are always occupied by responsible tenants who pay their rent on time One of the best ways to make sure that your rental units are always occupied is by screening your tenants carefully. This means doing things like running a credit check and getting references from previous landlords where possible. By taking the time to screen your tenants, you can decrease the chances of having problems down the road. Additionally, make sure that you are clear about what is expected in terms of rent payment and follow-up if there are any late payments. By being proactive, you can help ensure that your rental properties in Kenya remain profitable. Category: Uncategorized Comments (0) Leave a Reply Cancel replyYou must be logged in to post a comment.