13 Tips for Improving Your Rental Property ROI (without Buying More Property)

Abstract

A portfolio of rental properties can yield good income but the best measure of how well your investment is working for you is the ROI. Your return on investment is a good indicator of how healthy your business really is. The best part is that you can start improving your ROI right now without investing in more properties. Get Serious About Tenant Screening Selecting the wrong tenants leads to high turnover rates and damage to your property. Consider the features of the property and what tenants are likely to be looking for. For multi family properties, invest in the type of communal spaces that your tenants will want to make use of. In some cases, you may be liable to damage caused to a tenant's property by any water that has gotten in due to negligence. Reduce costs associated with maintenance, vacancies, repairs, and renovations while improving the valuation of your property and the contentment of your tenants.