4 Signs Its Time to Sell Your Rental Property

When Should You Sell Your Rental Property?

Investing in a rental property is a sure way to earn riches, and you can create a passive income stream. These statements are true to some extent, but there is more to the story.

As a landlord, you are relying on your tenants to:

  • Make rental payments.
  • Keep the house in a livable condition.
  • Not disturb the neighbors.

The positive side of the story is that you have great tenants who pay rent on time, keep the property in an acceptable condition, and stay with you for the years to come. You don’t have to deal with late payments or complaints.

There exists another side (the horror story). Tenants don’t pay rent on time, and the house is in a rough condition. You receive complaints from neighbors. Tenants don’t allow you in the house. Even if you evict the tenants, you’ll have to start the process again.

If you are on the other side of the story, and cannot tolerate bad tenants, it might be best to sell the house. There are other reasons why you should consider selling your rental property.

When Should You Sell Your Rental Property?

Your Property Becomes the Reason for Tension & Anxiety

It is no longer a business. Keeping the rental property is literally draining your energy.

Your Property is Worth More than the Purchase Price

What is the current price of your property? The chances are that your property has appreciated and by selling now, you can make a profit.

You are Moving Out

Life doesn’t always go as planned. You might have to move out of the state. Managing the property from far away can be a hectic job. Even if you have a property manager, you’re still responsible for the protection & well-being of your tenants.

Negative Cashflow

Financial markets are volatile. We often forget about market conditions, which dramatically affect mortgage payments and rental rates. Negative cashflow can create severe problems for the landlord. It means that instead of earning a profit, you’re spending cash to keep the property. Holding the property for some time might solve the problem, but it’s not the solution if you have miscalculated the profits at the beginning.

I Want to Sell My Rental Property

It might be best to sell your home as-is to a local buyer. You’ll get the cash that you can invest in an alternative investment for a better return. If you are considering to sell your rental property, give us a call. We are local investors, and we can help you go over your options. Contact us now to talk about the situation.

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