Selling vs. Keeping as a Rental

[Adam Taylor]

Deciding whether to sell or rent out your home hinges on financial factors like immediate cash needs versus long-term income goals, alongside market conditions in your area—favorable for selling if it's a seller's market or for renting if there's high demand for rentals. 

Long-term objectives play a crucial role; selling might be preferable if you need funds for other investments, while renting could be beneficial for building equity and generating rental income. 

Consider the responsibilities involved, with selling releasing you from property management duties and renting requiring ongoing maintenance and tenant management. Tax implications also differ; selling may incur capital gains tax, while rental income is taxable but offset by deductions.

There are several factors to consider when deciding if you should sell or keep your property as a rental.