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When Is It Time to Sell Your Rental Property?

Is it time to sell instead of rent? Here are five scenarios to consider to keep more of your profits.

[Updated: Feb 04, 2021 ] Jul 02, 2020 by Barbara Bellesi Zito

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The current situation What you should do next
It's a hot market and you want to sell. Check in with your accountant to understand your tax liability on the sale of the rental property.
You're losing money on your rental property. Sell it for what you can and look into loss harvesting/capital loss to mitigate the capital gains.
You can't afford the maintenance/upgrade. Sell it (be prepared to make concessions/negotiate).
You want to try something new with your investments. Sell your rental home quickly and reinvest with 1031 exchange; if you can't, consider a bridge loan.
You no longer want to be a landlord. Find something else to invest in to replace your passive rental income.

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