Jorge Abreu walks through how to maximize rental property revenue: start by setting rent based on comparable units in your area, then layer in extra income from bundled services like internet and amenity fees. He also stresses reviewing expenses to cut costs where you can.
The first thing we look at is the rents and then other income as well. You know, how much can we really push on the rents and are there other income that we can make by, you know, bundling the internet and adding in the internet or just adding an amenity fee? We do that by looking at the comparables in the area and see what other apartments are charging. And we look at the, like I mentioned, the average household income, you know, how much can our residents really afford before it's just, we're asking for too much, right? Right. So really pushing the income is the number one thing and seeing how far we can push it. And then the expenses, you know, what efficiencies can we add and where can we cut out some expenses if we can?
