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General Landlording & Rental Properties

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Nick Reinhardt
  • Investor
  • Minneapolis, MN
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14
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Duplex Vacancy Rent or Renovate?

Nick Reinhardt
  • Investor
  • Minneapolis, MN
Posted Aug 2 2020, 18:34

Looking for some insight on the following situation:

I recently purchased 2 neighbouring duplexes, 3 of the 4 units are currently rented out. We plan to move into the vacant unit and do some minor updates while house hacking it. However, I just found out one of the tenants who was on a month to month lease will be moving out September 1st (our move in date).

So the question is:

Do we use this opportunity to upgrade that unit which would include adding a sliding glass door in the kitchen, removing the wall separating the kitchen and living room, and tiling bathroom floors?

Or do we skip the renovations and get the unit rented as soon as possible?

My concern with completing the upgrades is trying to rent the unit in the fall October/November timeframe.

Any advice would be greatly appreciated.

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