Best Ways to Maximize your ROI

Proactive Maintenance

Proactive property maintenance is all about catching and taking care of small problems before they develop into larger, much more expensive ones. Implementing proactive maintenance begins with regular, detailed property inspections, then includes both preventive maintenance and making small repairs and improvements as they are deemed necessary.

Upgrade Marketing and Screening Process

Another important way to keep your rental income high and expenses low is to market your rental property and screen potential tenants more effectively.

Cultivate Positive Tenant Relations

One effective approach is to cultivate a positive, professional relationship with them. Studies have shown that when tenants respect their landlord and have a history of positive interactions with them, they are far more likely to stay in a rental and renew their lease. Some of the key elements of good tenant relations include:

• frequent, positive communication;

• offering different ways to stay in touch;

• setting clear expectations;

• treating your tenants – and their time – with respect;

• being available and responsive to their concerns; and

• offering convenient ways to pay their rent.

In these and other ways, you can foster good relations with your tenant and, at the same time, maximize your investment’s return.