Should I Keep or Sell Rental Property? Sell My Property in Jackson MS

It's a common question, and one that doesn't have a simple answer. There are a number of factors to consider when making the decision to keep or sell your rental property. In this article we will go over a few reasons you should sell your rental property now vs waiting for the future.

The Property Needs Lots of Repairs

 One of the biggest reasons to sell your rental property is if it needs a lot of repairs. Not only will these repairs be costly, but they will also take up a considerable amount of time. If you don't have the money or the time to make the necessary repairs, then it's probably best to sell now rather than wait.

The Property is Out of State or Too Far Away to Maintain

 Another reason you should consider selling your rental property is if it's located out of state or too far away to maintain. If you can't physically be there to take care of the property, then it's likely that it will fall into disrepair. It would be best to hire a property manager to take care of the rental property as you cannot physically be there, but this come with a cost as most property managers take up to 10% of gross rental income. In this case, it's best to sell now rather than paying a large portion of rental income to a property manager or waiting until the situation gets worse.

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If you have a rental property that is causing a headache and need to sell your home quickly, we can help. At Atlas we buy houses for cash and can close on your house in as little as 7 days.

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You Have Tenants Who Are NOT Paying

 One of the worst things that can happen as a landlord is having tenants who don't pay rent. If this is the case, then you should definitely consider selling your rental property. Not only will you not be making any money from the property, but you will also have to deal with the hassle and stress of evicting the tenant. In most cases, it's best to sell now and cut your losses.

The Property is Gaining or Losing Value Quickly

 Another factor to consider when deciding whether to sell or keep your rental property is the value of the property. If the property is gaining value quickly, then it may be a good time to lock in a profit by selling your rental property. In many cases exaggerated prices are not sustainable so it can be a good idea to take your gains while you can.  On the other hand, if the property is losing value quickly, then it may be best to sell now rather than wait until it's worth even less.

You Need the Money Now

 If you need the money from your rental property now, then it's probably a good idea to sell. There are a number of reasons why you may need the money, such as medical bills, tuition, or other unexpected expenses. It's better to sell your rental property and get the money you need now rather than wait.

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The Neighborhood is Not Being Taken Care Of

 If your property is in a neighborhood that's not being taken care of, then it may be time to sell your rental property. This is because the value of your property is likely to go down if the surrounding area is not well-maintained. In addition, it may be difficult to find tenants who are willing to live in an area that's not being taken care of.

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If you're thinking about selling your rental property, then you should definitely consider Atlas Property Investors. We buy houses for cash in Jackson MS and we can close the deal quickly, often within 7 days. In addition, we don't charge any commissions or fees, so you'll get to keep all of the money from the sale. Contact us today or give us a call at 601-202-5183 learn more!

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