Profits above & beyond monthly rent??

Question

How else do you profit from your rental other monthly rent? I have researched previous posts about application fees. I have also read Mike Butlers "Landlording on Autopilot" & he gives numerous ways to get above & beyond 100% of your rent. My question is how realistic & how ethical is it to do this?

Aaron Mazzrillo · Answer

Sounds like a lot of work for peanuts in pay leading to a hire turn over rate. I prefer to lease at market or slightly above ($50-$100) depending on the quality of my rental and then not ever seeing my tenant again. I don't like to interfere in their life just as much as I don't want them interfering in mine. I do rent raises when needed and get all maintenance taken care of promptly, but I'm not looking to make a profit off a rental application (not even sure that is legal) or get an extra $10 for taking out their trash every week.

Chris H. · Answer

@Aaron Mazzrillo I have been reading your posts and like/agree with alot of the things you say. Do you do background/credit checks? If so do you consider this a cost of doing business? Why not apply fee of approved application to their 1st months rent? I dont really  want to pay for everyone else's checks.

Tom Goans · Answer

@Chris Hensley,

The value of your time.

What is your time worth and how much time are you spending trying to gain such a small amount? Is this a good investment of your time?

I am old-school. I find value in managing time and costs.