Is Now the Time to Sell Your Rental Property?There comes a time in many real estate investors’ lives where they are seriously considering to sell the rental property in their portfolio. There can be any number of reasons for this, such as retirement, a future move out of the area, or properties that are not bringing in enough to cover the mortgage and other ongoing costs.

It could also be that you’ve had a bad run of recent tenants, or that you just simply do not have the time to manage and maintain your properties while also focusing on other areas of your life.

Regardless of the reason for wanting to get out of the real estate niche, there are some other factors to consider before moving forward. For example, in many cases, there are viable solutions to these issues which will allow you to continue benefitting from your property investments, that don’t require you to spend an inordinate amount of time cleaning up after tenants, collecting rent, and fixing leaky toilets in the middle of the night. It could also end up costing you more to sell your properties than you might think.

For instance, when factoring in the cost of realtor commissions – which are typically 6% – along with closing costs, you could be looking at an overall expense that is in the neighborhood of 10% just to get out of your investments.

Rather than placing your rental properties up for sale, a better solution could be to partner with an experienced property manager in the area. In doing so, you can remove your time commitment, yet still prosper from your investments.

Just some of the duties that a property manager can take off of your plate include screening potential tenants, collecting monthly rent money, and keeping the property maintained on a regular basis.

For more details on how you can partner with a property manager in Orlando and the Central Florida area – while continuing to profit from your properties – Contact Us.