Rent vs sell

[Jenny Tsiang]

My husband has a rental property currently in downtown SF but his father has managed on his own and has barely raised the rent over the past 5-6 years.  We need to either pull out equity from the rental property or sell it to help with a downpayment for a new home.  We are thinking of either kicking out the current tenants, fixing it up a little and renting it out for more.  In which case we would get a property manager and refinance the mortgage.  Our other option would be to sell it.  In which case, our current tenants would like to be considered as buyers.  Who should we talk to in order to help make this decision?