Rental $ making idea
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Rental $ making idea (by Dee Ann [WI]) Nov 20, 2022 11:38 AM
       Rental $ making idea (by Jim in O C [CA]) Nov 20, 2022 12:03 PM
       Rental $ making idea (by Elena [PA]) Nov 20, 2022 12:38 PM
       Rental $ making idea (by DJ [VA]) Nov 20, 2022 1:35 PM
       Rental $ making idea (by ned [AL]) Nov 20, 2022 4:55 PM
       Rental $ making idea (by 6x6 [TN]) Nov 20, 2022 7:44 PM
       Rental $ making idea (by Dee Ann [WI]) Nov 20, 2022 8:01 PM
       Rental $ making idea (by Dee Ann [WI]) Nov 20, 2022 8:01 PM
       Rental $ making idea (by Ray-N-Pa [PA]) Nov 21, 2022 9:15 PM

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Rental $ making idea (by Dee Ann [WI]) Posted on: Nov 20, 2022 11:38 AM
Message:

A potential $ making idea came to mind as I was scanning the Black Friday ad previews and pondering a potential recession upon us.

Black Friday, lots of items at low prices, coupons, deals compared to retail. One that gave me this idea. What if landlords made certain items available to "rent" and/or "buy", to our tenants. Cleaning items that are expensive, i.e. steam mops, carpet cleaners, vacuums. Many of my tenants don't have decent cleaning machines. When they move out, the cleaning suffers as a result. Maybe we come up with a plan to rent out a machine we purchased (and sell them the cleaning fluid) for less hassle and $ than they can from a hardware store. They could also rent the machines around holidays or after winter when ice and snow, may have dirtied floors and carpets more than usual.

Another way to make this work may to rent a couple of these machines throughout the tenancy for a specific period of time, then sell or give the machine to the tenant after it has been paid for and then some, taking you off the hook for repairs.

This might also apply toward small appliances, i.e. air fryer/ convection/toaster ovens, countertop dishwashers. Appliances that are a convenience and use less energy than using a larger appliance for cooking a small meal or appetizers, saving a tenant the money in another area to pay the LL.

What are your thoughts...spin or expansion of this idea? How it might work, be set up, etc. This will likely not work for you large property owners or C and D rentals, and you may not want to engage the idea.

--75.11.xx.xx




Rental $ making idea (by Jim in O C [CA]) Posted on: Nov 20, 2022 12:03 PM
Message:

With cleaning machines, like carpet an idiot tenant could cause more damage than it's worth. I had a tenant rent a machine and caused the carpet to expand 2 inches. it cost $400 to re-stretch the carpet.

I had a tenant use the wrong dishwasher soap and I had bubbles in the whole kitchen. --89.45.xx.xxx




Rental $ making idea (by Elena [PA]) Posted on: Nov 20, 2022 12:38 PM
Message:

"Tenants are tenants for a reason". I don't want them doing any cleaning other than windex cleaning on the apartment. --72.94.xxx.xxx




Rental $ making idea (by DJ [VA]) Posted on: Nov 20, 2022 1:35 PM
Message:

You are thinking along the lines of "you want fries with that"? or a"customized / upgraded" unit.

Some folks do that very successfully & earn more money that way (like with laundry appliances & other amenities).

Some prefer not to (like you already mentioned how you need to maintain & repair it all).

Cooperative tenants who are given instructions may not necessarily cause damage. Would thy cause more damage with your machine vs someone else's? I think not. If they are cleaning & renting machines anyway, why not give YOU the money?

I encourage you to think through a little more. If it suits you & your tenants, it could be good thing.

--68.229.xxx.xxx




Rental $ making idea (by ned [AL]) Posted on: Nov 20, 2022 4:55 PM
Message:

Seems a bit of hassle for little reward. But I dunno. I've def considered rto on appliances for my s/f. Many of them do RTO anyway. Why not with me.

Hmm. --70.92.xx.xx




Rental $ making idea (by 6x6 [TN]) Posted on: Nov 20, 2022 7:44 PM
Message:

Always good to be creative thinking.

If a LL had a vacancy this time of year, they could advertise a Black Friday special. That is, when demand dies down. --73.113.xxx.xxx




Rental $ making idea (by Dee Ann [WI]) Posted on: Nov 20, 2022 8:01 PM
Message:

Now that's an idea 6X!

We did something like that to sell a rehab we finished just before Xmas. Our ad read: Buy yourself a house for Xmas and we'll make your first mortgage payment. We sold just before Xmas and delivered the mortgage payment on Xmas day!

Would work for Black Friday, Xmas, New Year's and most any holiday really! --75.11.xx.xx




Rental $ making idea (by Dee Ann [WI]) Posted on: Nov 20, 2022 8:01 PM
Message:

Now that's an idea 6X!

We did something like that to sell a rehab we finished just before Xmas. Our ad read: Buy yourself a house for Xmas and we'll make your first mortgage payment. We sold just before Xmas and delivered the mortgage payment on Xmas day!

Would work for Black Friday, Xmas, New Year's and most any holiday really! --75.11.xx.xx




Rental $ making idea (by Ray-N-Pa [PA]) Posted on: Nov 21, 2022 9:15 PM
Message:

I have had success with selling Frigs via RTO and letting them set the payment amount - which is typically only $20 a month.....so the lease gets extended outward.

I haven't had as of good success doing washer and driers. Again they try to do it with min payments and machines get to beat up during that time.

I like the way you are thinking. --24.101.xxx.xxx



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