Sell Or Lease Your Investment Properties?

Question: “I have two investment properties that have recently become vacant. I have not had very good luck with my previous tenants. My Husband and I would like to know if we should sell our two properties or lease them. Please let us know what you think.”

Thank you for your question. This is a situation that pops up frequently when investors manage their own properties. Finding a good qualified tenant could be one of the most important part of the investment experience. If you have an unqualified tenant you may have to evict the tenant, spend excessive amounts of time on the property, and you may have a large make ready cost when the tenant vacates.

In your case I would suggest putting the property up for sale and for lease at the same time. Since Real Estate is a result driven business you will be able to take the first option that comes to you. If a buyer comes along with an acceptable offer you can sell the property. If a qualified tenant comes first I would suggest talking with a property manager to take the stress out of the real estate process.