It doesn’t matter if you’ve owned investment properties for years or are just getting started, there are a variety of things that you can and should do to increase the ROI from your investment property.
In this article, we will offer you several tips that you can use to increase the Return on Investment that you receive from your investment property.
Tip #1 – Take the Time to Review Off-Market Investment Properties
Although you may be active in searching for investment properties online via traditional websites like Zillow.com or realtor.com, you should also be searching for potential investment properties that are “off-market” as well.
The best way to find off-market deals is to contact the owner of an investment property directly and ask them if they would be interested in selling.
To save time you should consider contacting a property management company like 36 North Property Management. This is the best step to follow because we can help you to find potential off-market Real Estate deals that you may have not been able to find out were off-market yourself.
Tip #2 – Look for The Best Insurance Rates
Another helpful thing you can do to increase your ROI as an owner is to always look for the best insurance rates before purchasing a new landlord insurance policy.
This tip is important because shopping around can easily save you a few hundred to a few thousand dollars per year in insurance costs so you should always review multiple companies to confirm that you’re getting the best deal on insurance.
Tip #3 – Hire A Property Management Company
Last of all, but most important, hiring a property management company is one of the best things you can do to save time and money.
When you have a property manager managing your rentals for you, you can rest easy, enjoy passive profits and look for more ways to increase the ROI from your investment properties rather than managing them yourself.
To learn more about the services we can offer you, contact 36 North Property Management by calling us at (832) 484-4604 or click here to connect with us online.