Should I rent or sell my property?
A number of questions should be asked, including:
___If you rent, can you rent and have a positive cash flow?
___Are property values in your community generally rising?
___What are the tax implications of each choice? Speak with a tax professional for details.
___Does your community have rent control (about 200 areas now have rent control)? If so, what are your obligations? Note that in some cases if you are only renting one or two houses you may be exempt from rent control, but only if you file for an exemption. See a real estate broker or attorney for details.
___Will you need or want a professional manager? Speak with several brokers for details.
___If you were to sell, is there a better place to put your money?
___Do you have a personal preference that favors one choice or the other?
___Do you want to be in the real estate business? Renting a house or houses does exactly that.
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