With the arrival of a new year, property managers face many issues that need to be addressed to ensure that everything continues to run like a well-oiled machine. Properly managing funds is essential, and there are ways to tackle issues while staying within the budget.
Addressing increasing property costs. Bartering is a great way to cut down on expenses. Is one of your residents well-versed in landscape design? Maybe you can strike a deal by offering them a discount on their rent in exchange for design work assistance. Speaking of rent, you may also consider raising the rent for tenants while allowing current ones to catch a break.
Dealing with utility costs. If money allows, installing low-flow aerators on sinks in the bathroom and kitchen can cut down water usage by more than thirty percent. You can also provide some water conservation perks to residents, such as offering them a gift card.
Sprucing up appearances when money is limited. Arguably the most important spot to concentrate on is the entrance as that will be the first thing prospective tenants will see, and first impressions are everything. Focus on certain areas of the landscaping as opposed to the entire thing if funds are limited, such as making sure the lawn is mowed.
This update is provided by property management Miami FL company ROI Property Management. We provide a complete array of services for landlords and tenants including rent collection, financial reporting, and more. Call 954.628.3411 to learn more about our full service, flat-rate pricing and how we can help you achieve the maximum return on investment.