I recently had a flood at my rental and gave my tenant the option to leave, which she did. All repairs are done, or scheduled. Should I wait to list until the floors are done? Or list now with a note saying that floors are being put in and showing the house that way?
I'd like to have an August tenant, and if I wait until the floors are done I can list it until 7/12.
Wait until the floors are done, if you don't the house will show terribly, and the pictures will not convince potential tenants to even inquire, not to mention that they can't move in for 2 weeks.
When prospective tenants hear you say you’re putting in new flooring they can have a very different image than what you actually do. This can lead to all kinds of problems including potential legal issues. Be safe. Finish the job first.
They have some good points, but I'd have to disagree. I am actually showing a property right now that doesn't have its new floors yet! I have also shown properties that are just dry-walled before, and have been able to paint an accurate + attractive picture for the prospect of what they will look like finished, securing the deposits. Often I show properties before the current tenants move out, and if I know the flooring is going to be re-done or the paint will be all new, I showcase that in my description and at my showing. It can be a huge selling point having something brand new, so take advantage of it! Make sure to describe exactly what you'll be doing (e.g. Brand new hardwood floors being installed before move in day!). I would definitely list it now.
I'd show a picture of the original house, and then show a picture of the new flooring, and state you're "Upgrading the Floors so it'll be brand new for an August move in! " all about perspective! Also maybe offer $100 signing bonus to incentive someone since it's not exactly done yet.
List now and have a sample of the flooring available so they can see the color and style. Most people can rent without waiting to see the flooring installed.
I have waffled on this as I renovated apartments. The bottom line is that I have listed all of them when still in the renovation stages. My last 2 were both rented when (1) we still had finishing work/backspash tiling to do. (2) we had just sheetrocked.
It all depends on the potential tenants "vision" and you should be able to assist that by having a flooring sampling ready.
In the one, I was bringing sheetrock out to the dumpster when an older couple approached me and asked what I was doing. They were out looking at apartments for their son and girlfriend who were not in an immediate rush- they were interested in seeing the place. I walked them through, showed them the kitchen plans- they loved it. They called me later and asked if the son could come look... he loved it. We had only sheetrock and sub floor. They made a soft commitment, at my request and then followed up when everything was finished. This is my priciest apartment and I just had the July rent Zelled to me yesterday. I am loving this millennial couple.
But the parents were previously contractors- so they had an eye, and so did the kid growing up around it.
I handle everything myself- so it costs me zero to list it on Zillow when still working and updating the pictures as I progress.