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Transform parking space into closed box
Profit : 💰💰💰💰⚫️ | Risk : 🔴🔴🔴⚫️⚫️ | Discover other strategies by joining the club !
Owner
The owner’s area is dedicated to improving rental management and tax optimization. You have a property: car parks, garages, boxes, cellars and warehouses; find our advice.
Parkmatch : application of connected car parks !
You’ve probably already experienced it: parking in the city can become a real headache. Between going around the neighbourhood more than 15 times, traffic jams at peak times, expensive private car parks… but also FPS (post-parking packages) which have already reached many motorists !
📢 WARNING : you must not use the Parkmatch application anymore
Due to numerous reports of bad experiences, we recommend that you no longer use Parkmatch services ; click here to learn more.
How to estimate the sale price or rent of a car park ?
Knowing how to estimate the sale price or the rent of your car park is very important, but for this reason a few parameters are important. Indeed, each car park has its own specificities, which complicates the estimation and makes the study difficult. This step is essential to have a good positioning on the market in order to find the right tenant or buyer.
It is necessary to define the specificities and the advantages of your location :
You must understand that the price depends on the market, more precisely on local supply and demand. This differs according to the particularities or characteristics of the site to be rented or sold.
How do you boost your rental yields ?
Owner of 7 parking spaces and garages, Christophe explains how he has boosted his rental yields with a few tips. In this article, we will present his rental strategies that really work.
Why did you seek to boost your rental returns
I am lucky to have found good deals that allow me to get a very good return on investment. The Platinium members 💎 of the club can see my accounting results from the exchange platform. Some members have come up with great ideas to make more money legally. So I looked at my situation and thought about a strategy to further improve my rental income.
What’s the first trick you’d like to share with us
Experience with a delinquent bad payer
We share with you Christopher’s bad experience with a high-flying bad tenant. This article is also an opportunity to give you tips and advice to help you manage this kind of situation.
To rent a parking space or a garage, an owner is ready to do anything thinking only about profitability. It’s human to want to rent all your spaces at all costs to reassure yourself. But when a badly paying tenant arrives in your environment you have to be firm and very reactive to get out without too much damage. All landlord investors know that there are more and more “bad payers” on the market. This term broadly defines any tenant who will make you suffer from rent payment problems (late payment, non-payment, degradation, illegal occupation, etc…).
💡 Did you know that ?
Speed should not be confused with haste, especially when there is money at stake.
Unfortunately, a wise member of our club got screwed. By what we can define as an expert in bad payment or even an expert living in the hooks of the French society ; knowing many methods to deceive people… Any experience, good or bad, is good to take in order to move forward and learn from one’s mistakes. It seemed essential to us to tell you about this extreme case.
The first phone contact
Asbestos cement roofs : take extra care !
Many garage lots from the 60s and 70s are currently up for sale. Ageing owners prefer to sell their garages rather than continue to devote time to rental management. All these old buildings have asbestos cement roofs, which may contain asbestos. Be very careful when buying to avoid losing a lot of money !
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How to manage your rentals remotely ?
It’s not easy to manage your rentals on a daily basis. The situation becomes more complicated if you own a property located far from your home. We present three solutions to help you in your remote rental management !
The solution that costs the landlord the most is the real estate agency.
An intermediate solution is to use an online management company.
Finally the most economical solution is an idea implemented by some members of our club : using a private individual!
💡 Did you know that ?
Distance is one of the factors that slows down real estate investors, sometimes you have to go far away to find good deals !