Tuesday, January 28, 2014 / by Rummy Dhanoa
Before you can fix your cash flow problems, you need to figure out where the leaks is. Are tenants refusing to pay the rents or are the rents too low? Look at other rentals in your area and make sure that your prices are comparable. Keep in mind, however, that a responsible tenant can be worth more than a couple of hundred dollars each month, and try not to drive away any stable tenants with aggressive rent increases.
Are your buildings only half full? Vacancies are your worst enemy, and if your building is harboring a lot of empty space, it may be time to mix up your advertising strategy.
Perhaps maintenance issues are causing the issues. Can you save costs by doing some of the work yourself? Do you need to spend more on routine maintenance so you can spend less on repairs?