Advertising rental during reno

[Meghan Cheek]

Hello!

Our tenant just gave her notice and will be moving out at the end of April.  We bought the property (two family that we are house hacking downstairs unit) over the summer.  We would like to do some renovations, specifically redo the kitchen and possibly the bathroom, when she moves out.  My question is, should we wait to advertise the unit for rent until the renovations are complete, or should we post it and explain the work that is going to be done?  We want to get the best rent possible but also want to limit vacancy time as much as possible.  Any thoughts would be appreciated, thank you!

[Christopher Jiggens]

@Meghan Cheek I just finished going through a similar situation. I put the rent ad out while I was remodeling the unit. As I was both doing the work and showing the place, many times I had to stop working to clean up and get ready for showings. This slowed the process down a good amount. We had many many lookers but no takers. In fact, many people seemed turned off by the unfinished unit and didn’t even request an application. I finished the exterior painting and then re posted the ad with updated photos. Finished the interior work and began showings. We immediately got more interested people and within a few weeks got our tenants signed and ready to move in. The holding period was probably longer due to my attempt to do two things at once. I would recommend completing, or at least 90% completion, before posting the ad. A clean and completed home during showing will spark more interest compared to a home with some “final touches” needed.