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Updated almost 6 years ago on . Most recent reply

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AJ Smith
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List For Rent Before Renovation?

AJ Smith
Posted

I am closing on a multifamily property next month, i am planning on living in one of the units during the month of June to do an extensive rehab on the unit. I would like to lease the unit to new tenants starting July 1st. 

I am wondering when i should plan to market the property for rent - I wont have the renovations complete to show the property until about mid-June, and this would be a very quick turnaround to find a tenant by July 1st. Obviously, i would like to minimize the vacancy as much as i can. If anyone has encountered this situation or has any tips please let me know!

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Frank Wong
  • Real Estate Broker
  • Bay Area
3,263
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1,384
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Frank Wong
  • Real Estate Broker
  • Bay Area
Replied

I would wait until you are finished. You post an ad the prospective tenant would like to see it within 48hrs.  You can't show them the unit and you should not show them a unit under construction.  Unless you have a property in a must-have location those leads will be gone. 

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