6 Tips to Make More Money on Your Rental Property

 Post by Azibo Team on January 2, 2020

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Landlords know that the "passive income" generated by rental properties is anything but passive. Rental property owners have an endless to-do list that includes everything from managing repairs to tracking down rent payments, finding contractors, refinancing loans, tracking expenses, and researching insurance policies.

The Azibo co-founders, who collectively have managed thousands of rental properties across the U.S., gathered six tried-and-true methods to help landlords increase their cash flow. These tips are based on their own experience plus conversations with other real-world landlords in the Zibo community.

Check out our first tip below, and download the ebook to get more ideas to maximize your rental property investment.

Let Your Money Make Money

Between rent payments and security deposits, landlords manage a lot of cash. Most landlords keep that cash in checking accounts, since savings accounts that offer interest are less flexible. However, new online-only, mobile-first banks today offer high-yield checking accounts that allow account holders to access their cash while still receiving interest. Another thing to consider? Move funds you don’t need as readily into a high-yield savings account. While many of these accounts still have transaction limits, they generate closer to 2% APY.

In the coming months, Zibo is planning to launch a high-yield, FDIC-insured checking account with zero monthly fees and more than 10x the national average interest rate—which, compared to average fees and interest rates from institutional banks, could increase your cash flow by more than 5%.

Looking for more tips to save time and boost your rental property income this year? Download our free ebook to start maximizing your real estate investment today. 

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This article and the Azibo Blog in general is intended for informational and educational purposes only. It is not investment, tax, financial planning, legal, or real estate advice. Please consult your own experts for advice in these areas. Azibo provides information believed to be accurate, but Azibo makes no representations or warranties about the accuracy or completeness of the information contained on this article or blog.