The average rental unit in Atlanta is almost $1,500 each month, and with a tight rental market, you can cash in. As a new landlord, you must look for ways to grow your real estate investing and improve cash flow.
As a property manager, you can take several actions to get more money out of your real estate, including cultivating tenants, adding amenities, and furnishing spaces. Making a few adjustments to your investment property management can help you earn more money!
Check out these ways to improve real estate cash flow.
Keeping Tenants
As a new landlord, it's best to get to know your tenants. You want people who pay their rent on time and have few issues with their property.
There are several keys to tenant retention, including addressing any maintenance concerns. When something breaks, fix it promptly and don't keep people waiting. Property management companies should take the initiative in getting the job done.
Talk with your tenants about a longer lease. You both can benefit from having someone in your unit for a more extended period of time. When your tenant signs a longer lease, you should think about a cash bonus or rental coupon for finding a new tenant.
Don't forget to be a human about your rental property management. Set up appointments with your tenants and listen to their concerns. Understand their needs and make adjustments when necessary.
Adding Amenities
Consider adding amenities such as a swimming pool or electric vehicle charger to your real estate investing strategy. A property management company that adds playgrounds and basketball courts can all make a living arrangement better.
Rental property management companies realize people want extras, and they are willing to pay for them!
Real estate investing means putting some money into your property, but it's essential to realize the long-term return you'll get on these investments.
Furnishing Spaces
The metro Atlanta area ranks number one tech hub and tech diversity growth. You can take advantage of investment property management as corporations look to move to Atlanta and relocate employees. Many people will need furnished corporate housing, and in the rental property management business, you can take the lead.
Investment property management in corporate rentals brings in high-end clients. And with a corporate paying the bill, money comes in quickly as a new landlord!
Charging a premium for corporate housing can get you top dollar for your real estate investment!
Increasing Revenue as a New Landlord
Tackling cash flow as a new landlord is as easy as keeping tenants and adding amenities. In the Atlanta area, you should consider furnished housing for corporate clients.
Your investments are significant to you, and you must make every effort to keep them growing and thriving!
Contact us today to learn more about real estate investing in Atlanta. We can help you increase cash flow and revenue to get the most out of your real estate properties!
