High end house rental market in Utah salt lake and bountiful area

[Jenny Wall]

Hi does anyone know how is the high end rental market in Utah Salt Lake City and bountiful area ? I have a house which is worth about $450000 and renting for $2700/month to a great tenant, still have 2.5 years left . It's on a variable interest rate . I am debating if I should refi to a fix rate and keep it long term or sell it when the lease is up. This is the only higher end rental I have , so I am not sure if it's a good long term holding property . Any advise would really be appreciate . Thanks 

[Jeff Rappaport]

@Jenny Wall, Not sure exactly what your question is but I would tell you from my own experience that rentals up to $2,500 per month are very strong.  The rental market on properties $2500-$3,000 are slower but still good.   I would certainly want to know what the parameters are on the interest rate.  I would also take into account that the market could certainly change over the next year and if interest rates go up and the housing market goes down what will your exit strategy be.  Some of the other variables that would be helpful to know is what is your payment at this time?  Are you putting any money into the property for maintenance, repairs or utilities?  How much equity do you have in the property?  I personally like high end rentals but you need to know what you are dealing with and what you will do if things change.  Let me know some of the details and we can discuss further.