Are you searching for ways to get more profit from your Las Vegas rentals in 2019? If so, you’ve come to the right place!
At Blackbird Realty and Management, we specialize in Las Vegas rental properties and in this post, we will share with you our best tips for earning more money from your rentals this year.
Tip #1 – Increase the Rent
Yes, it’s true that increasing the rent at your property is really a “no brainer” but the reality is that with this strategy you want to use the most caution because you don’t want to increase the rent too much or you may risk losing a great tenant.
How much should you increase your rent by?
First, review comparable properties in the area to find out how much they are currently renting for then once you know what your current fair market rent should be, you should raise the rent by no more than $50 per month because most tenants can’t budget for rent increases over $100 per month.
Tip #2 – Allow Pets at Your Rental Property
In previous blog posts, we’ve talked about allowing pets because it’s one of the best ways to earn more money from your rentals on a monthly basis.
If you’ve not allowed pets at your Las Vegas rental in the past, it’s important to keep in mind that most pet owners are responsible people who train their pets and take care of them so you shouldn’t have to worry about the damage that may come from pets living in your rental property.
When you allow pets, you can easily charge a pet deposit of up to $500 and a monthly pet rent of $100 or more.
Tip #3 – Add A Coin Operated Washer / Dryer
It doesn’t matter if your rental is a single family or multi-family rental property, adding a coin operated washer/dryer can easily bring in an additional $100 to $250 per month and they are easy to collect money from plus maintain on a weekly or bi-weekly basis.
Tip #4 – Work with A Property Management Company In Las Vegas
Are you still managing your rental property yourself? If so, hiring a property manager will actually save you money each month because, instead of doing the work that’s needed to manage your rental yourself, you can rely on a company like ours to manage that property for you.
We offer a full property management service which includes:
- Rent Collection
- Property Marketing
- Customer Service
- Tenant Placement
- And more!
To learn more about the services we can offer you please contact us today by calling (702) 903-3556 or click here to connect with us online.