Help: when to list/advertise my (current rehab) rental property?

Help: when to list/advertise my (current rehab) rental property?

Rental Property Investor · Pittsburgh, PA · Member since 2019 · 38 posts · 13 votes

Hey everyone. I just bought a house that needs plenty of rehab and renovation in order to get it where it needs to be. That is, a mid-grade (B class?) rental in a pretty good area of Pittsburgh. We have begun doing most of the large projects/repairs, and intend on being finished with that type of work by the beginning of March (jacking the house up, leveling the floors, replacing the kitchen, etc.) so that we can get the finishing touches (exterior work, landscaping, etc.) wrapped up for an April 1st tenant. I know things can quickly change, but that is the current plan.

My question is this: When is the best time to get my rental listing posted on websites? I have had no problem whatsoever finding tenants with quick turnarounds for a nearby duplex, but they haven't needed any major work done, so the pictures and descriptions are pretty much ready-to-go at a moment's notice. For this SFH, I'm not sure if posting a listing without pictures makes sense, especially this early, but if the work isn't done until mid-March, that may not be enough time to find a quality tenant for April -- my opinion is that people renting/moving into houses are looking to lock something up more than a few *days* before their lease ends/begins, whereas I've had tenants in my duplex units lined up just a week before their current lease ends...

Does anyone have any experience with a dilemma/situation such as this? I was thinking about posting a listing with the updates that are coming, along with basic house info, just to get a few interested tenants lined up (conservative route). However, I think the finished product (and pictures) will be much better in order to get a wide range of quality tenants (upside route)... Thoughts!? 

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  • Nathan GesnerBusiness Member
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    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    5y

    I recommend waiting until you are 1-2 weeks from completion. The home should be mostly finished so people can visualize what the final product will look like. And it should be safe for people to walk through during showings.

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  • Rental Property Investor · Pittsburgh, PA · Member since 2019 · 38 posts · 13 votes
    5y

    @Nathan Gesner That's definitely what I'm leaning towards! Thanks for the input.

  • Rental Property Investor · Higginson, AR · Member since 2015 · 123 posts · 101 votes
    5y

    We had yard signs made that we put in yard. stated our name of our business, phone number and says under renovation, will be available soon. You would be surprised how many "neighbors" want to find a decent renter in the neighborhood.  

  • Rental Property Investor · Pittsburgh, PA · Member since 2019 · 38 posts · 13 votes
    5y

    @Ray Fisher that's not a bad idea! I'm sure the neighbors, some of which I know, wouldn't mind "spreading the word" as the project rolls along. However, putting that sign in front of a house that still *looks* rough on the outside is somewhat worrisome... an interesting idea to consider, nonetheless!

  • Investor · Philadelphia, PA · Member since 2015 · 3k+ posts · 3k+ votes
    5y

    @Robert Kohnfelder

    List it as coming soon. Be super clear in your marketing for when it will be ready. Include video walk-through and drawings in your ad. Prescreen out the people who contact you that don’t fit your timeline, and build a list of prospects that fit. Then when it is actually ready to show you have some pent up demand.

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