Just bought a unit. How long is too long before listing?
Hello BP,
I just closed on a quadplex earlier this week. I am very excited and nervous.
One unit is Vacant and we need to repaint the unit to get it rent ready. Last tenants were there for a long time. My PM is in the process is putting lock box and turning on utilites.
We are looking to get quotes, paint, and finally list and rent it out. What is a reasonable time line to get all this done? I dont want to micro manage my PM and call them every waking hour. But, I want to make sure they are doing their job.
Also, people who have multifamily in C class area how long is your typical vacancy? I know this is normal but I'm pretty nervous.Thank you!
@Robert Hernandez - paint will take one day.
Are you leaving everything up to the PM? If I were as nervous as you, I wouldn't. I'd call painters myself and meet them at the unit. Get a price quote and time for completion, then select. Don't leave that to the PM. S/he has things on his/her plate and something this simple can be handled by you. Plus you should pay the PM for doing that extra work. Once you know when the job will be completed, you can arrange to take pics and have it on the market for rent immediately. Are you sure all it needs is paint?