Why should the rental industry be any different in an age where you’re charged for every extra inch on an aircraft and every gigabyte on your phone? Welcome to the latest trend earnings money for landlords: adding fees for every amenity imaginable.
Latest Trend Earnings: A New Method of Profit for Landlords (Photo: Vecteezy)
Latest Trend Earnings: A New Method of Profit for Landlords?
These days, it seems that paying fees is the new norm for almost everything, including having a roof over your head. Landlords are always looking for the latest trend earnings and new ways to increase their profits in the dynamic world of real estate. The time when a property owner’s only source of revenue was rent is long gone.
Miscellaneous service fees are a growing trend that is now sweeping the rental market, latest trend earnings, and might very well be the next big thing. Moving-in fees, garbage pickup fees, and even charges for mailbox use are just a few of the extra costs that are changing the tenant-landlord relationship as well as providing landlords with new sources of income.
A recent Wall Street Journal story investigates the occurrence of landlords charging more for services that were previously included in the rent and latest trend earnings. Yes, a lot of landlords have added fees for parking or pets.
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Fees for moving in, trash removal, mailbox use, etc. as the Latest Trend Earnings
Many people involved in housing and real estate commented on the piece on social media as the latest trend earnings, stating that charging fees à la airlines would backfire rather than include them in the total cost of rent.
Real estate as one of the latest trend earnings is at a crossroads in a world where transparency is lauded and consumers are better informed than ever. While creative revenue schemes can result in short-term advantages for landlords, trust may end up being the real currency of the future.
The addition of covert costs to the rental market might bring in a few additional bucks now but runs the danger of undermining tenant confidence in the future, similar to luggage taxes that have given airline travelers a bad taste in their mouths.
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