Should I keep or sell my rental property?

Should I keep or sell my rental property?

This is a great market for sellers right now in Phoenix. If you have a property that has gained equity through appreciation and you want to tap into that, now is a great time to sell because you can get top dollar in the shortest period of time. But with the demand so high and the housing supply low, prices are still climbing. So if you don’t need the money right now it might be a good time to wait to allow the market to appreciate more before you put your rental home on the market.

 

If I have a rental home as an investment, how would you recommend finding a reliable tenant?

The first thing is to get interested tenants in to see the property and apply. In the best situation you can screen more than one applicant and pick the best fit.

Really the best thing is to do your homework once you have an applicant. Always check their credit and do a background check. I think the most important thing is to check their prior rental history. Most landlords will answer the question, “Would you rent to this tenant again?” If they answer yes to that question, I think there’s a good chance that you’ll get a good tenant.

Stay tuned for more answers on real estate from Walters Realty Group

Comments

  1. Good advice! I’ve got some family with rental property who might benefit from this.

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