Maximize and rent and minimize vacancy between turnover
Hey all,
Here’s a question for you, I’m spending about 10k updating a property I just purchased.
I have 6 showings this weekend but the carpets aren’t in, the blinds aren’t in, the dishwasher hasn’t arrived and the new paint isn’t on the cabinets.
I can have this done by December 20th or I can find a renter before the updates and promise them updates.
I think I could rent it for more after these updates but I don’t want to risk scrambling for a tenant between xmas and New Years.
What do I do? I could rent to the guy who wants a 6mo lease and then jack up the rate.
I figure a full months rent at 1775 is better than 1875 a month later (something that would take 18 months to recoup).
how do you all manage updates within such a tight time frame?