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Updated 7 months ago,

User Stats

5
Posts
4
Votes
David Felt
  • Cincinnati, OH
4
Votes |
5
Posts

Post rental property or wait?

David Felt
  • Cincinnati, OH
Posted

BP Family - 

I am currently under contract to purchase a long term rental home and will be closing on July 12th. I am planning on installing new carpet, countertops and paiting the cabinets right away when purchasing. It should be ready for a tenant to move in on August 1st. I got the current owners (person who is selling me the property) blessing to post the house for rent right now with a move in date of August 1st if I wanted to. 

QUESTION: Is it worth posting for rent right now? OR would it be better to wait till the renovations are complete? Has anyone listed a property that they are under contract for but dont fully own yet? (we are past inspection & appraisal - just waiting on loan to close)

- There wont be any photos of updated carpet, kitchen cabinets and countertops

- I can't show the property in person considering I dont have the keys to proeprty yet

- Would be gathering leads for people of who are intersted in hopes of getting it rented out faster 

If I post the property now, I could probably have a tenant lined up to move in August 1st. If I wait to post the house till the renovations are complete I probably wont be able to have someone move in till September 1st which is past when schools gets in session. The area of the house is in the top school district of Ohio. A lot of people move here to get there kids in the school district. 


Without renovations I would probably list the house at $1,725 and with photos of renovation I would list at $1,775.

Thanks!



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