Is it to soon to start advertising my midterm rental?
I just purchased a new construction property that will not be completed until August 15. My current property will then be available to become a midterm rental hopefully on August 18th. I plan on purchasing new furniture for the midterm to be delivered once I move. Is there a way I can start advertising on furnishfinder even though this isn’t the way the property will be furnished? Or should I wait until I’m moved out and the property is furnished the way they will receive it?
#1 Medium-Term Rentals Contributor
- Property Manager
- Reston, VA
I would wait in case there are delays with construction, getting the furniture, etc. You wouldn’t want to advertise and find a tenant, but not be able to deliver the property on the day that you promised. Most of my tenants from Furnished Finder have reached out with 2 weeks of their move in date so don’t be too concerned about waiting. A few days before you take possession of the property you could list the property on Furnished Finder and include “pics coming soon” in the description until you get the furniture assembled and pictures taken. That way you can start receiving leads and reaching out to them.
Once you have a hard finishing date I don't think its a bad idea to list it. It can take a while to get traction for mid-terms on listing sites so as long as you give yourself a buffer between when it will close and when the tenant will move in I think you should do it.
Do you have a similar designs from your previous units to at least market it and let the ball rolling. It's important to have consistent designs on all your units so that you can start advertising while it's in the process of construction. @Carlos Valencia @Albert Bui
#2 Medium-Term Rentals Contributor
- Lender
- Youngstown, OH
Quote from @Jamie Banks:Great advice! We will likely do this as we are in the process of furnishing our first MTR.
A few days before you take possession of the property you could list the property on Furnished Finder and include “pics coming soon” in the description until you get the furniture assembled and pictures taken. That way you can start receiving leads and reaching out to them.
There are many companies that will virtually stage homes and can do so with design parameters you give them. You can try to have them virtually staged in the same way you'll be furnishing the property once its ready. These companies can take photos with existing furniture, clear out the furniture virtually and plug in new virtual furniture – it's pretty neat! That said, I would make sure to be really clear in your description that the photos have virtual staging so folks don't get confused / feel misled.
#1 Medium-Term Rentals Contributor
- Investor
- Cottonwood, CA
I would not post your property until it is furnished and ready to go. There's absolutely nothing to entice someone to book your unfurnished property over someone's furnished one with just a promise that it will eventually be furnished. People want and need to see what they're getting for their money. I've seen hosts try to do this and they get absolutely slayed on the social media sites. You're only talking a couple of days difference so just wait until it's ready.
I agree...I would wait. The photos are important to get the product correct. Also, MTR tend to rent close to the check in date. I have learned not to stress about filling my houses, as they come along last minute a lot. I just did that today...one week from current guest check out date.
Waiting is the right call. Don't promise something until you can definitely deliver on it. You will fill up quickly, take the time to set it all up and take nice pictures before anyone is in there. It's so much harder to do all the pictures once you start renting.
It could go either way. I have had a client that posted their mid-term before it was ready/furnished, but promised that it would be ready by a certain date. Like said above, my only worry with this would be that if there is any delays with construction or getting furniture, then you would have to tell that person and push their reservation (which they may not be able to do).
