Often, we will hear from one of our investor clients who want to know what they should do if their parents are moving out of their home. They need to know if it’s better to sell the property or hold onto it and rent it out. At Florida Property Managers, we do a multi-faceted “test” that will help our clients make the best possible decision.
First, we take a look at the home and go over the options available. If the decision is to sell the home, our clients can either sell the property as it is, or do some work to improve it and then sell it at a higher price.
With rental rates skyrocketing in South Florida, we have found that selling isn’t always the best option. Renting out the property will provide the Owner with regular rental income, while enjoying asset appreciation that will be recognized when the Owner does decide to sell. Our market analysis will provide you with the market rent and the rate of return you should expect.
If you sell the property, you’ll be able to invest those proceeds elsewhere. We will give you the data you need to compare each option separately and see how much you’ll earn. A full cost benefit analysis will provide you with the options you need to make the best decision possible.
We would love the opportunity to help you work through this decision. Please contact us at Florida Property Managers for more information.