Bringing multifamily property to market

[Chris Winnier]

Hello BP!! I have an updated Duplex that I am trying to bring to the rental market. I am considering listing one unit at a time to avoid having the units compete with each other. This is a new experience for me. One unit has a new kitchen (with granite) and new bathroom the other has a mix of prreviously used appliances, repainted kitchen cabinets, and refinished bath. Both units are the same size but the backyard is larger for the less updated unit. I believe the more updated unit could draw a larger rent but the backyard is smaller too. 

Would you suggest listing both units at the same time or attempt to list one unit first? The goal would be to maximize return on both units.

Thank you in advance for your time.

Chris

[Jared Hottle]

Listing one unit at a time is a common strategy to avoid competition between units. You can start with the more updated unit to test the market and get a sense of the rent you can charge. If you are able to successfully rent out the first unit, it may give you a better idea of the rent you can charge for the second unit. Once you have rented out the first unit, you can then list the second unit at a more competitive price. This way, you will have a better chance of maximizing your return on both units. However, this strategy requires careful market analysis and understanding of the local rental market.