Guide: making sure you maximise your profit all year round
Setting the correct price for your apartment, room, house or whichever establishment you decide to rent to the general public, is extremely important. Forgetting about certain overheads could leave you short for cash, or even in a position where you are experiencing a financial loss. We want to help you to avoid this!
As the owner of a rental property, your main goal should be to maximise your profits, but how do you do this without charging your tenants an absurd rental price?
The rent that you collect from tenants pays your mortgage, taxes, insurance, maintenance and building your reserve fund for bigger repairs. In the end, after paying all of the expenses associated with the property, you hope to have money left over to compensate you for your time.