Investors ask: Cheap ways to increase rental yield
Q. I often hear about ways to increase your rental yield, but they usually revolve around spending a lot of money or doing expensive renovations. Is there anything unusual I can do to increase my rental yield – and set myself apart from other investors – which won’t break the bank?
A. One way you can increase your rental income and provide more certainty in your annual income is to offer a lawn-mowing service.
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Most tenants don’t like gardening and let their gardens grow, which can get a bit out of control.
If you hire someone from a mowing firm at $30 per mow, once every three weeks, that means it’s about $10 a week for mowing.
You can then charge the tenant $15 a week for the ability to have their gardens maintained. Then they’ll be more inspired to stay there because their life is more convenient – but you get an increased rent net effect of $5 a week.
Brendan Kelly, RESULTS Mentoring
