Selling a rental townhome - Howell NJ

[Alison Lawlor]

I am considering selling an out of state rental townhome in Monmouth County NJ. I have wonderful tenants that have been there for over 10 years however as I am nearing retirement, I am looking to sell. Lease is up 10/31 however they are local business people and have no desire to move, just continue renewing the lease. Question is, should I list now and market primarily to investors or should I advise tenants I am not renewing their lease ending 10/31 and then list. I know that I will have to invest in paint, flooring and countertops if I want to get top dollar but I don't know that money spent for sprucing up would net me any more profit. Will also be covering a $2k mortgage during any renovations.