Money-making Ideas

There are three tremendous money-making ideas that were shared on an AOA Live Stream that I would like to share with you. I am especially excited to share them with you because many of you could benefit greatly from them. These three ideas can be found in the AOA video entitled “Increase Your Rental’s Value by Splitting Space to Add Units” on www.aoausa.com.

#1. You May be Able to Create More Units by Splitting Existing Units

Adding additional units normally requires new construction which takes a significant financial investment. However, there is an easier way to add more units to your property! At the end of May, an ex-code enforcement inspector in California shared how he was able to add multiple units to different properties without any new construction. 

he idea that you may be able to split units to create more units is tremendously powerful. It does involve design, permitting, and the reconfiguration of the units to be able to create those new units. The process does take time, but your return on investment is well worth the investment of time and money. 

#2. Code Enforcement May Have Cited Your Property in Error

The inspectors  are human. It is within the realm of possibility that your inspector is requiring unnecessary modifications or even erroneously forcing a unit off the market. Just being aware that false violations exist and can open up an entirely new world to you. If you happen to be cited, make sure you ask the “why” question. Why is this considered illegal? Not to start an argument, but you need to understand what they are thinking and seeing. What code are they referencing? Having this knowledge will also make compliance that much easier, if the citation is accurate. 

#3. Adding Additional Units by Right

In addition to the allowance of adding ADUs to your property, you may also have a right to add even more units, depending on a few factors. When selling a rental property, identifying those potential new units, planning and permitting them, and sharing that information can increase the value of your property. Members and non-members alike can access this video for free on the AOAUSA YouTube channel. 

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Bonus Thought: Not Getting a Building Permit Saves You Money Until it Doesn’t

Many people make substantial changes to their rentals without permits. This seems to save both time and money on the front end. However, when something goes wrong, it can end up being very costly! Maybe you’ve had an experience with this. Please write a letter to the editor to share your horror story. If you don’t have a horror story yet, be sure to avoid the headache and additional cost of having to demolish and rebuild! Stay compliant and get those permits!

Common Systematic Code Enforcement Traps 

Evidence of vermin or insect infestation, problems with windows and insect screens, damaged ceilings, walls, and floors are just a few of the issues that come up during routine code inspections. Avoid the stress and expense of citations by maintaining your property in a timely manner. 

Always Bringing Ideas

AOA’s passion is to give you ideas to help you make and or keep more money than ever before. Our goal is that AOA members would be the most successful group of housing providers in the state of California. Take the time to sharpen the axe! Over a period of time, investing time to read the magazine and attend seminars will create an atomic habit that will help make your job of providing housing easier and more enjoyable. 

Stay in the Know!

There are now both in-person events and virtual seminars happening every month. When you register, make sure you know if you’re signing up for a virtual or in-person event. You can check out upcoming events by clicking on the “Seminars” tab when you are visiting AOAUSA.com. In-person events are free for members and are not posted to YouTube. We highly encourage you to come out if you are able to. Please be thoughtful of others and stay home if you are not feeling well. 

  • For Northern California: Please also mark your calendar for the two in-person meetings in July in Oakland and Santa Clara. These two events are listed in your monthly magazine and on www.aoausa.com.
  • For the LA Area: Please also mark your calendar for the Million Dollar Trade Show and Educational Conference on October 27th, 2022 at the Los Angeles Convention Center.