Rent vs. Sell: What Do I Do with my Las Vegas Home?

System - Wednesday, June 25, 2014

When you own a home in Henderson or Las Vegas, and you get a job transfer or some other circumstance shows up that requires you to leave the state or the country, you will probably wonder what you should do with that property. There are a couple of options available to you, and one of the first steps you should take is to consult with a company that provides both real estate and property management services. You’ll get an unbiased opinion about what the best course of action might be for you and your property.

Talking to a professional firm that handles both property management and real estate means they can analyze the costs on the sales side and the rental side. They might tell you that the benefit of selling is that you can just be done with the home and move onto your new destination free and clear. They might also explain why renting out your home is a lucrative option. The Las Vegas market is still a seller’s market, or an appreciating market. Therefore, holding onto your property and allowing a tenant to pay your mortgage while your house continues to appreciate in value can be an excellent financial decision.

You’ll want to talk to your CPA or tax adviser as well. There could be some tax advantages to holding onto that property. If you are planning to return to the area at some point, renting out your property instead of selling it is another good way to ensure you have a place to live when you come back. Working with a property management company means you won’t be disrupted by that phone call in the middle of the night about a leaking faucet or a 

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broken water heater or an air conditioning unit that needs to be replaced. Your rent will be automatically deposited no matter where you are in the world. That might give you some peace of mind should you decide to rent out your home instead of sell it.

Whether you’re leaning towards selling the property or renting it out, please contact us at Ravago Group Property Management. We can help you examine your options and make a well-informed decision.