The Landlord Expansion in BitLife lets you unleash your full potential when buying and flipping houses. While before, you could buy a home, let it sit in your assets tab and flip it after a few years, becoming a landlord brings this a few steps further by allowing you to rent out and upgrade homes. There’s a lot to it, so we’re here to give some information about it all. If you would like to learn more, continue reading to find a comprehensive guide on making money as a landlord in BitLife.
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How to Make Money as a Landlord in BitLife
The Landlord expansion’s main features are new properties, house upgrades and renting. While the new properties don’t directly help you with money-making, they give you more options for houses to buy. The main focus here is upgrading and renting out properties.
Upgrading Your Properties
After you buy a house and select it in your Assets tab, you’ll find a new subcategory named “Property Management”. Here, you can add amenities to your property that increase your house’s value. The downside? Every upgrade has an upfront fee, and you may lose money initially. On the other hand, you can add tons of value to your house, allowing you to flip it instantly if you’d like.
When you pick an amenity to add, you’ll find multiple stats beforehand that tell you how much it’ll cost and the value it adds to the property. Most importantly, though, you’ll find the name and reputation of the contractor who’ll add the amenity. Make sure you’re contracting a company with a high reputation to increase your odds of the project adding more value for a low price!
Amenity Project Values
Different amenities will add varying levels of value, which its Projected Added Value shows. This value is the approximate percentage of the property’s total value that the project will add to your home after you complete the project. It doesn’t cost any money to check your options, so take your time looking around and finding profitable projects!
You also only have a limited number of amenities to add to each property, so be careful with which ones you choose! If you ever want to get rid of one to add another, you can go into your amenity list and demolish it.
Renting Properties
If you’d rather wait a few years instead of flipping your houses instantly, you can rent them out to tenants who’ll pay a monthly rent to live on your property. To do this, return to your Property Management section and pick rent to find all options, from your house’s key features to amenities. Using your property’s features and amenities, you’ll create an advertisement to attract tenants!
Once you successfully create an ad for your property, an application will pop up, showing a potential tenant to move in. Make sure to perform a background check to find information like their criminal activity, net worth and credit score. You can decide whether to approve their application or find another tenant using these details.
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Interacting With Tenants
After accepting an applicant, you can select them in your property menu to view a few layers of information. Initially, you’ll find a few new options for viewing your lease agreement, performing maintenance and inspecting the property. If you select the person, you’ll find different relationship activities, much like you would for any other random NPC. You can choose to evict them here if they’re causing trouble.
Each year, you’ll receive an annual report about your net earnings, tenant satisfaction and property conditions. You may also get a note advising you to check in on your tenant, which you can do by choosing Inspect in the property management tab. By doing this, you’ll likely catch your tenant engaging in activities that can damage your property’s condition. If this happens, you can warn them, forget it happened, or evict the tenant immediately.
By checking in on your tenants, performing regular maintenance and improving the house you’re renting out, you regularly gain income each year and make a decent amount of money as a landlord in BitLife.
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