Fix and Rent or Rent than Fix?

Question

Scott Williams · Answer

My 2 cents worth - Definitely finish fixing before showing it to potentials tenants. People like seeing finished products. Good luck!

Christopher Lombardi · Answer

I agree with Scott W.  People want to see the finished product and usually don't lease a property that is under construction.

BJ Everson · Answer

@Bruno Demir agreed. And I've had tenants say they are going to come when I setup a time that works for me and no show. So leaving it open to them for when it works for their schedule and your contractor will be there and doesnt mind almost gets the house shown more. But I think this only relates to a certain level of rental/tenant base. This worked for me with lower/mid class tenants.

BJ Everson · Answer

I've done both (had potential tenants go through pre/post rehab completion) and had mixed results. I waited till the rehab was mostly complete so the tenants could see what they were getting as far as a finished product goes. With that, doing showings was easier for me as my contractor would be there working and would let them in to take a look around. All things considered, it worked out fine.

I have also waited for completion and didnt get a qualified tenant for 30-60 days, leaving me with that as vacancy costs and that hurt.

Aaron K. · Answer

You absolutely wait until the rehab is finished, the property will rent for more, show better, you won't suffer from stale listing syndrome and depending on how long the rehab takes you may come out of the slow season between Thanksgiving and Christmas

Fix and Rent or Rent than Fix?

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