Improving Cash Flow
To improve or maximize cash flow, investors can:
- Increase Rent: Gradually raise rental rates as market conditions allow.
- Cut Expenses: Reduce unnecessary expenses or find ways to lower maintenance and property management costs.
- Reduce Vacancy: Invest in tenant retention strategies and marketing efforts to minimize vacancy periods.
- Add Income Streams: Consider adding extra services or amenities, like laundry facilities, parking, or storage, to generate additional income