{"id":20372,"date":"2022-08-04T15:15:00","date_gmt":"2022-08-04T22:15:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=20372"},"modified":"2022-08-04T09:47:35","modified_gmt":"2022-08-04T16:47:35","slug":"the-best-ways-to-increase-rental-profits","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2022\/08\/the-best-ways-to-increase-rental-profits\/","title":{"rendered":"The Best Ways to Increase Rental Profits"},"content":{"rendered":"<p style=\"text-align: justify;\">The rental market heavily favors landlords these days which means that it is a great time to see some big profits. Many landlords are making great money and are looking to keep the tap flowing. Others are wondering why they are not seeing those same profits and can\u2019t take advantage of the situation.<\/p>\n<p style=\"text-align: justify;\">There is a lot of money being left on the table by some landlords who aren\u2019t aware of how they need to change their habits to make more money during this opportunity. Some of the changes will be easy and some will be more difficult. In this article, we will go over some of the ways to take advantage right now to be able to increase profits.<\/p>\n<p style=\"text-align: justify;\"><strong>1 \u2013 Fix the property<\/strong><\/p>\n<p style=\"text-align: justify;\">Unfortunately, there are many unscrupulous landlords who figure that it is better to not keep their property maintained to make more money in the short term. The reality is that it is better to spend money now to avoid paying more later. The key is that you have to spend money now to make money.<\/p>\n<p style=\"text-align: justify;\">Those little problems that seem like inconveniences will end up much larger problems with the price tag to match. This will eat into your profits when you should be making more money.<\/p>\n<p style=\"text-align: justify;\">The other issue is that you won\u2019t be able to keep good tenants which will mean there could be times when the unit sits empty or you have undesirable tenants. This means that you should get Canadoor Garage Doors to fix the garage and have all the appliances in good working order.<\/p>\n<p style=\"text-align: justify;\"><strong>2 \u2013 Understand the market<\/strong><\/p>\n<p style=\"text-align: justify;\">The better you understand the market then the less likely you will be to make a costly mistake. For instance, certain areas will attract a certain type of market that is looking for a particular kind of housing. Some areas will see people trying to find entire houses with yards while others will favor more condos. If you don\u2019t know what people are looking for then you may buy the type of property that people are not searching for in that area and it sits empty.<\/p>\n<p style=\"text-align: justify;\">You should also know that the average rent is for the type of property you have along with the condition. You could be asking for too much and the market won\u2019t pay for it. Or, you could ask too little and be missing out on more profits.<\/p>\n<p style=\"text-align: justify;\"><strong>3 \u2013 Rent it furnished<\/strong><\/p>\n<p style=\"text-align: justify;\">Buying furniture is very expensive. Renters are usually people who are trying to save money or don\u2019t have the type of money to furnish an apartment or house. They would love to have a place that is already furnished to be able to save money. This means that if you were to put the property up for rent with it being fully furnished then you will be able to charge more for it.<\/p>\n<p style=\"text-align: justify;\">Over time, you will make more money than the furniture originally cost you so it becomes pure profit later on.<\/p>\n<p><a href=\"https:\/\/realtybiznews.com\/the-3-best-ways-for-landlords-to-increase-their-profits\/98773704\/\" target=\"_blank\" rel=\"noopener\">The 3 Best Ways for Landlords to Increase Their Profits<\/a> by Jamie Richardson | Realty Biz News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The rental market heavily favors landlords these days which means that it is a great time to see some big profits. Many landlords are making great money and are looking &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2022\/08\/the-best-ways-to-increase-rental-profits\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-20372","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Best Ways to Increase Rental Profits &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.roryc.ca\/blog\/2022\/08\/the-best-ways-to-increase-rental-profits\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Best Ways to Increase Rental Profits &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The rental market heavily favors landlords these days which means that it is a great time to see some big profits. Many landlords are making great money and are looking &hellip; [read more]\" \/>\n<meta name=\"twitter:creator\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:site\" content=\"@RoryClipsham\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Clipsham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/08\\\/the-best-ways-to-increase-rental-profits\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/08\\\/the-best-ways-to-increase-rental-profits\\\/\"},\"author\":{\"name\":\"Rory Clipsham\",\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"headline\":\"The Best Ways to Increase Rental Profits\",\"datePublished\":\"2022-08-04T22:15:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/08\\\/the-best-ways-to-increase-rental-profits\\\/\"},\"wordCount\":522,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.roryc.ca\\\/blog\\\/#\\\/schema\\\/person\\\/0672b9777e67473b9bd9247df49499c7\"},\"articleSection\":[\"Real Estate\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/08\\\/the-best-ways-to-increase-rental-profits\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/08\\\/the-best-ways-to-increase-rental-profits\\\/\",\"url\":\"http:\\\/\\\/www.roryc.ca\\\/blog\\\/2022\\\/08\\\/the-best-ways-to-increase-rental-profits\\\/\",\"name\":\"The Best Ways to Increase Rental Profits &#8226; 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