3 Tips for Property Managers and Landlords to Maximize Rents in 2010

Economy is still struggling and rental property occupancy rates have been dropping which is resulting in decreased rental income for property owners. Follow these tips in 2010 to maximize rental income.

1. Increase Rents

At present rents are under pressure but 2010 could present an opportunity for some of the property managers, landlords, and property management companies in some markets to increase their rents. The rent increases will be highly dependent upon the local economy and especially on the employment and job growth in the market.

2. Focus on rental income and not just on occupancy

One common strategy followed by property managers, landlords, and property management companies is to keep properties occupied. Make sure that your rent is at market rate and rents are not being discounted to keep property occupancy high.

3. Maximize Lease Renewals

Follow the tips in this BLOG POST to drive lease renewals and and tips for retaining tenants in this BLOG POST. The goal should be to have much higher lease renewal than last year and property managers, landlords, and property management companies should take steps to achieve that goal.

By being aggressive and following these tips, property managers, landlords, and property management companies should be able to drive higher rental income.

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This blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies is brought to you by SimplifyEm Pay Rent Online and Property Management Software

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This entry was posted on Friday, January 15th, 2010 at 4:00 am and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed.