4 Tips to Increasing Cash Flow Profits

So you have settle in on owning passive income property. Congratulations. I hope you realize that there is a difference between a lottery ticket and passive income. You still need to manage the property but at least you will likely receive a steady income. A real essential component to success with passive income comes with quality property management action and policies but the focus of our topic today is on ways to squeeze more cash profit from your cash flow properties.

1. Consistently charge nuisance rent increases. Every amount of increase leads to more income and as this type of investment is valued on the income generated, this can increase your property cash flow and overall value. People may not like rent increases, but the fact remains that expenses go up and so should the rent appropriately. A nuisance rent is usually less than $25 per month increase, making it too little for considering a move. It can be an incentive to draft longer lease agreements also.
2. Seek out and install value-add amenities like car ports, exterior storage areas, etc When a tenant perceives more value you can collect more in rent. Depending on your choice and implementation, the cost is often less than the increase in cash flow and overall value.
3. Incentivize with small renovation or upgrades. Anything that can get a good paying tenant to stay can be a good investment in your cash flow consistency. Offering renovation or upgrades to good consistent paying tenants can add security to your cash flow and be a write-off on your taxes. Win-win!
4. Don't wait to renew potential vaccines. While not all vacancies can be foreseen, when you see a lease will expire in less than 3 months, try getting the tenant to re-sign the lease before the last 30 days expire. If the tenant plans to leave, gain cooperation to show the unit so it is filled the minute the current tenant leaves the property. This provides for less down-time collecting rents.

So much more to learn and know about getting the most from your cash flow properties. If you have more questions, Ask the Expert for free at www.housecall911.com