13 Proactive Ways to Increase Rent & Add Value to Your Rental Property

As a real estate investor, I am a big fan of Buy and Hold.  That being said, if you are going to go down this path, you will want to know how to increase the rent and the return from your rentals. Doing so encompasses all factors of property management.

Leasing faster, and to higher quality tenants will definitely increase your return. Renting for a higher price and increasing the rent upon renewal will as well. And so will preventing maintenance problems before they come up, as well as increasing tenant retention. But the question I usually get is how do we achieve all of these ends?

Here are 13 of the best ways you could increase the rent and value of your rental property:

1. Improve the appearance of the front of the property for curb appeal

2. Quality Advertising with high quality pictures 

3. Make sure the unit is well lit and smells good for showings

4. Don't just show the property and let the tenant walk through....sell it to them

5. Don't start your rent too low

6. Screen, screen, screen and then screen more. Bad tenants always eat your cashflow

7. Always raise rent upon lease renewal

8. Charge more for month to month rentals

9. Allow for pets and charge pet rent

10. Be on top of regular and preventative maintenance

11. Maintain contact with tenants in other ways like newsletters and social media

12. Charge for amenities and perks

13. Increase renewals with a resident program

The more you can raise the rents, lower costs, and increase retention, the better your bottom line will be. Good management can save bad investments, and bad management can kill goo ones.

Be proactive in increasing your rental returns and Happy Investing!