As a property owner, it’s normal to want to make more money from your asset. With mortgage breathing down the necks of land owners, they have to find a way to increase the earning ability of their properties.

From land to estates to houses, owners are actively looking for ways to get more money from their investment.

In fact, house rents have risen by over 50% in the last 4 years because of the inflation in the country.

In this blog post, we will discuss how you can maximize rental income on your Nigerian property as a US Citizen.

Have a Tenant Profile

While this might sound off or maybe partial, it is and it is not.

It’s easier to build a house with a particular profile in mind. Look at some luxurious cars for example, like a lamborghini.

These cars are luxurious and not made for a low profile person because they stand out wherever they go.

The same thing goes with a house, by creating a tenant profile, you can charge premium prices and be sure they will easily pay it and not complain a lot.

Another thing would be to check their history if they move a lot or what kind of job they do.

You don’t want someone that will leave the next year or start looking for a job, such cases could see you getting your rent late or looking for a new set of tenants.

Keep an eye out for Location 

If you build a house in the middle of nowhere with no development coming in the next 10-20 years, your investment will die.

Except you plan to develop the entire place yourself, that is a no brainer.

Location is key. Always lookout for locations that are upcoming with a strong potential for more developments.

A location with good transport links, access to schools and hospitals, security. 

A neighborhood or area with a very low crime rate is an ideal location.

When you put all this to mind, you find out that your property automatically will increase in rental income.

Maintenance 

Some landowners just build a house and forget about it. Some forget that houses also tear with time while others simply don’t care.

Cracks, holes, and functionality of basic amenities are things that draw value to your property.

You cannot expect someone to pay a premium price for a house with cracks, holes in different places, and rustings of basic amenities that no longer function.

Always keep a part of the rent for upkeep of your property. 

Maintaining your property will give you the courage to put it at premium price and be assured that people will be attracted to it.

Try adding a spare bedroom

There’s nothing wrong with adding a spare bedroom or bathroom, it can only increase your rental income.

If you have a lot of space in your property, you can try converting some of the space to a new bedroom.

While it might cost you more but in the long run, the results will be worth it.

In Conclusion

Making more profit is what business is all about and real estate is no different.

Property owners should adopt some of these strategies like looking out for a particular tenant profile, location, and maintenance.

At GZ Realty, we offer different strategies that are guaranteed to boost your rental income on your properties.

Ready to take the next step in your investment journey? At GZ Realty, we specialize in connecting US citizens and African Americans with prime real estate opportunities in Nigeria. Whether you’re looking to invest in residential properties, commercial spaces, or land, we’ve got the expertise and local knowledge to help you make the most of the booming Nigerian market. Explore the potential of Nigerian real estate with GZ Realty, and discover how we can help you diversify your portfolio with confidence.

Learn more about our services and start your investment today!