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knoxx66

Rent Out or Sell?

knoxx66
6 years ago

We are renting out our prior home that we moved out of last year. We have about 50% equity in the property, and net about $300 profit on it per month after mortgage and water are paid. The real estate market is really good in our area at this time for houses in that price range. The renter's lease is up next month and we are debating whether to rerent or sell. Is there a formula for deciding which is best? Are we making enough money on it to even be worth the potential future damages to the property and the capital gains we'll pay if we wait too long to sell?

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