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Updated 8 months ago on . Most recent reply

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25
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Jason L.
  • Rental Property Investor
  • Los Angeles, CA
5
Votes |
25
Posts

Looking to fill 30+ units in a newly renovated building in a short period of time

Jason L.
  • Rental Property Investor
  • Los Angeles, CA
Posted

I have a property that is in the middle of being renovated. There will be 30+ units (80% 1BR and 20% studios) that need to be filled when renovations are completed. What is the best way to get them filled quickly?

The property is located in a business district and does not have residential district restrictions, so I think STR is allowable to some extent. I also considered doing a master lease. Open to ideas and collaborating on this!

Most Popular Reply

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4,187
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Michael Smythe
  • Property Manager
  • Metro Detroit
2,509
Votes |
4,187
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Michael Smythe
  • Property Manager
  • Metro Detroit
Replied

@Jason L. start advertising NOW to gauge interest. You can play with pricing to see how it affects demand, so you have a better idea of the quality of prospects and how many you get at different price points.

You could also then modify your ad to identify a target MoveIn date and start accepting & processing applications. How nice would it be to have X number of tenants ready to move in as soon as the units were ready?

  • Michael Smythe
business profile image
Logical Property Management

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