Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Tuesday, July 27, 2021
Do you own a residential rental property? Or two? Or five? Or 10?
Would you consider selling one or all of them?
There are plenty of reasons why you might NOT do so...
- you might enjoy having a rental property as a part of your financial portfolio
- you might enjoy having your tenant paying down your mortgage on the rental property
- you might enjoy having a property that is appreciating in value
- you might enjoy the income stream provided by your rental property
- you might not enjoy the tax consequences of selling the property
But... if you are open to selling your residential rental property... it might be a GREAT time to do so, because...
- there are very few townhouses (a typical residential rental property) for sale right now -- so you'd have very little competition when selling
- there are a LOT of buyers in the market so you'd likely have competing offers to buy your property
- many buyers are offering to pay over asking price for such properties
- some buyers are waiving inspections and other contingencies
If you own a rental property and the end of the lease is coming up, let's take a few minutes to chat about your options and whether it might make sense to sell that property instead of finding a new tenant.
