We hope the following guidance helps you gain clarity on whether renting or selling your property is the better option.
My go-to advice? Consider renting.
Renting often comes with significant benefits and relatively low costs—especially when you enlist the help of a professional property management company for a small fee.
Some advantages include:
- Steady rental income and positive cash flow
- Long-term equity gains
- Tenants covering your mortgage and expenses
- A path to funding future goals like retirement or your child’s college tuition in 10 years
Renting may be the right choice if:
- You don’t need the equity from the home to buy another property
- The projected rental income can cover most of your monthly expenses (especially mortgage and taxes)
- You’re financially stable and don’t need rental income for repairs or upgrades
Selling might be the better option if:
- You need the home’s equity to fund the purchase of a new property
- The idea of managing an investment property causes ongoing stress—even after exploring the benefits of professional property management
If you have questions about these recommendations or are interested in clarification or a rent analysis of your home - reach out to Brett@kenmoreteam.com for more information.