Estimating Rehab Costs with a Current Tenant

[Sarah Jordan]

Hey friends,

How do I estimate rehab costs if there are tenants in the property preventing me/a contractor from going inside?

[Chris Seveney]

@Sarah Jordan

If you are buying the property then I would assume it needs a total gut rehab -

The seller will not like the price but you have to protect your interests and it’s up to them to get you access

If you own the property then you should have access, it’s your property and just follow the terms of the lease. If there is no lease then I have seen people contact the police to gain access to the property.

[Yue Lehman]

If you can contact the tenants, asking for some photos or videos wouldn't be so bad to start. But if they're ok with sending you photos, they might as well be OK with letting you see the place... If you end up starting with photos and videos for rehab estimates, definitely plan for additional costs for things you can't see with your own eyes (and can't smell with your nose)! 

[Jonathan Klemm]

@Sarah Jordan - You should be able to use a cost per square foot estimate relativiely easily.  If you can determine the scope of work.

I'd be happy to provide you some feedback.  Our labor number might be a bit different since I am in Chicago, but generally speaking, should be in the ballpark.

[Eudith Vacio]

Hey @Sarah Jordan 👋🏽

break in through doors! JUST KIDDING.... :)

I would definitely recommend getting a hold of the owner / agent / tenant to see if you can get additional photos of the interior or walk the property. But more details are needed here to better understand what's going on..