You’ve called Port Liberte your home for a long time, but now it’s time to move to another city, another state, or even another country. Conventional wisdom says that you have to sell your current home before you buy your next one, but have you considered renting out your property instead?
When to Rent Out Your Port Liberte Condo
The big question is, “Should I sell my home or should I lease it?” Well, it depends. Every homeowner’s situation is different, and there are plenty of factors to consider when managing any investment property, especially your own. If you’re trying to figure out whether you should sell or rent your Port Liberte condo, take a look at these common reasons to help you make the best decision.
It takes a lot of time and work to sell your home: deep cleaning carpets, decluttering closets, eliminating pet odors, staging your living spaces, replacing old and tarnished hardware, making necessary home improvements… the list can go on and on.
When you rent out your Port Liberte condo, you’ll still need to spend some time cleaning and decluttering, but not as much time as it would take to sell it.
2. You Plan to Live in Port Liberte Again
If your move isn’t permanent, it may be best to rent out your property rather than sell it. That way when you come back to Port Liberte, you’ll be able to quickly move back into your own home rather than spend extra time finding another condo for sale, making an offer, negotiating with the seller, and signing all that paperwork.
3. You Could Use the Extra Cash
Want some extra money to save for retirement? If the rent you charge a tenant is enough to cover your mortgage payments and expected maintenance costs, it may be a good idea to rent out your condo instead of selling.
The IRS offers tax breaks for using your condo as an investment property, too. When you rent out your home, you can deduct expenses like mortgage interest, property tax, and utility costs that the tenant doesn’t pay.
4. You’re Not Ready to Say Goodbye to Your Home
If you’ve owned a condo in Port Liberte for many years, it can be hard to let go of the home you’ve filled with memories. Even if you know you’ll make a profit, you’re not quite ready to commit to selling your condo. In that case, renting out your property might be the best decision.
Port Liberte Has a Great Rental Market
Because Port Liberte is such a desirable place to live, people are eager to rent available condos to enjoy the pet-friendly amenities and on-site businesses, excellent location, and community atmosphere. If you’d like to use your own condo as an investment property, I’ll help you find great tenants and rent your home for the best price.