We are currently in an uncertain economic climate – but that doesn’t mean there isn’t money to be made in property rentals! In this article, I'm going to share my top 5 tips for renting out your property during the recession – so you can make the most of this difficult situation and come out on top!

When the economy takes a turn for the worse, as it did in 2008, many people put their real estate investments on hold. But if you're considering renting out your property, there are a few things you should keep in mind.

Tip 1: Research Your Local Market

In order to make a profit from renting out your property, it is important to first research your local market. This will help you to determine what rent prices are reasonable, as well as what amenities and features tenants are looking for.

Once you have a good idea of the market, you can then start to set your own rental price. Be sure to take into account the condition of your property, its location, and any special features or amenities it offers. With a little bit of research, you can find the perfect price point that will help you make a profit from your rental property.

Tip 2: Consider Investing in Renovations

If you're considering renting out your property, it's worth considering investing in some renovations first. Even small upgrades can help increase the value of your rental property and make it more attractive to potential tenants. Some easy renovation ideas include:

-Updating the kitchen with new appliances, countertops, and fixtures

-Painting the walls and ceilings

Of course, you'll want to be mindful of your budget when planning any renovations. But keep in mind that even small changes can make a big difference in how much rent you can charge and how quickly your property will fill up with tenants.

Tip 3: Advertise Your Property

As a property owner, there are many ways to go about advertising your rental property. The most common and traditional methods are through online listings on websites like Zillow, Trulia, and HotPads. You can also list your property on Airbnb or VRBO but why start a brand new business and ditch the passive income? . 

For those of you who are new to the rental game or just don't have the time to devote to starting a hospitality business, consider working with a flexible real estate investment firm ,like Zillycon Capital, that will Privately market your property to thousands of people who do have the time to devote to starting a hospitality business. The advantage is that they can pay rent on time because it's a highly profitable business. They are also able to sign 1-4 year leases for your property, they basically serve as free property management, which includes weekly cleaning/minor maintenance, and a host of security features. Hospitality business operators are some of the highest-quality tenants.

Tip 4: Contemplate Other Ways to Use Your Property

If you're looking to rent out your property and make a profit, it's essential to be open to the options given in the market. These may include renters that operate businesses using real estate and they will protect it because it affects their cash flow but you always stay passive. Zillycon Capital has a huge database of a wide range of investors , so it's easy to rent your units fast and in bulk as you increase occupancy and expand your portfolio. 

Tip 5: Offer incentives to your tenants:

Incentives, like rent discounts and other deals for longer signed leases are ways you can have other creative lease terms. It will also give the investors  a financial break for mov-in cost since they are furnishing your property for at atleast $1,000 per room and other setup agreed expenses..

There’s no doubt that signs of a recession are unnerving. But if you plan accordingly and act ahead, you’ll enjoy peace of mind and financial stability regardless of what’s to come.

Even in the midst of an economic downturn, landlords can still benefit from investing in rental properties if they're willing to think outside the box and get creative with marketing their units. I hope these 5 tips prepare you for some of the newer ways online money is leveraged through real estate. 

To conclude, making money with your property can be easier than you're making it..