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Top Five Ways to Boost Rental Income – Tips for Commercial Landlords

Written by Posted On Friday, 07 December 2018 03:05

Commercial landlords build or buy real estate apartments, shopping complexes, office buildings, hotels and housing societies for the purpose of making money. This type of premises is also known as investment properties.

In this post, we will discuss about some of the best cash flow tips that will help commercial landlords to boost their rental income. So, continue reading to know about some of the most innovative strategies that will help you to double your rental income.

  1. 1.Increase Rent Gradually

This is one of the best methods that you can follow to boost your rental income. Due to this reason, commercial property owners are always recommended to increase their rent gradually on a yearly or half-yearly basis. Meanwhile, it is also important to understand the fact that tenants will accept the higher rent if they think that the rising price is justified. So, you have to be really careful when increasing the rent.

  1. 2.Install Energy Efficient Products

Energy efficient products offer plenty of benefits, and it can boost your rental income directly. You have to invest a lot when installing energy efficient products, but they will pay you off for sure. Due to this reason, owners are always recommended to install energy-efficient electrical products in their commercial property.

  1. 3.Install Vending Machines

A vending machine is an automated device that provides items like snacks, beverages, cigarettes etc. Beverage vending machine is the most popular in Australia. Many companies offer drink vending machines in Melbourne as well as in other cities. You can contact one of them to install a vending in your commercial property. However, you are not obligated to install drink vending machine. You can also consider installing other types of machines on your property.

By installing a full functioning vending machine in your property, you can take the performance of your building to the next level. Most importantly it will help you to earn few extra bucks every day. Many companies offer free vending machine in Melbourne as well as in other cities. You can contact one of them and install a machine for free. It will help you to boost your income even more.

  1. 4.Offer Additional Services

Many airlines often charge their passengers extra for upgrading in-flight meals. You can also apply this strategy in your business and boost your rental income. For example install TV, CCTV camera or introduce high-speed internet connection in your premises. In exchange for these additional services you can ask for extra rent from your tenants.

  1. 5.Paid Parking

This is one of the best methods that you can follow to increase your income immediately. Instead of offering parking area for free you should charge money for it. It will help you to earn more from a commercial building.

So these are the five best tips that you need to follow in order to boost your rental income. If you still have any question regarding the topic discussed today then feel free to leave us a mail or use the comment box below.

Listing Additional Info

  • State: California
  • Address: Avlon Park
  • City: Avlon
  • Zipcode: 08242
  • SOLD: no
  • MLS #: 4452639875
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