Increasing Income
Increasing income is just as good a way to solve an operating costs crisis as cutting costs, so let’s look at a few ideas there, too.
Keep Raising Rents
This sounds like a no-brainer, but it’s important to keep raising rents as costs go up. This is particularly true if you have high occupancy. In fact, the higher the occupancy, the more aggressive you should tend to be on rent increases. (Having an occupancy that is “too high,” i.e., over 95 percent, is a sign your rents are too low in fact).
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