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40 Ways to Increase the Net Income of your Rental Property Paperback – March 25, 2015
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I appreciated that he covers what the unintended benefits (increase property value) and the possible problems (do I need a permit or insurance to do this?). Some ideas can turn a problem (insufficient parking) into a profit stream (operating a shared car service that attracts tenants who do not want to own their own cars.
I also like the step-by-step how-to-get-started list at the end of each section.
Bottom line - if you own residential rental property, several of these 40 ideas are things that you can turn into profit streams. The rest of them will stimulate you to look at your property in different ways and perhaps come up with a few ideas of your own.
The author personally gave me a suggestion about adding bicycles to my Airbnb unit, and here's a recent message and a review from 2 booked guests:
"The bikes as an option was definitely the cherry on top for us." - Ryan, Florida; April 2015
"The bikes were also a wonderful way of getting around and checking out the area, which has lots of cute..." Courtney, TX, March 2015
That's more bookings, better reviews, and more income! One weekend stay like this pays for the bikes in their entirety. And they are not the first! Even the guests that don't use them appreciate they are there. Thanks for the advice and inspiration Al Williamson!