Download our free ebook to learn practical strategies to maximize your real estate investment
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 Zibo 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.