We have a rental unit in North SJ area, where the tenants recently moved out. To get new tenants, looks like we need to repaint and spruce up the place a little.
Given the RE market stalling, we’re debating whether to sell the place now or keep renting out. If we sell now, we’ll have some nice gains, but subject to capital gains. The market for condos / THs are horribly a buyer’s market however. This is likely a covid19 effect.
I’m sick of maintaining the place, so if we rent it out again, we plan on hiring a property manager. But with decreasing rent, having 8-10% prop management fee may make it under water.
Any thoughts? The thing that’s really preventing me from selling is, if we leave Bay Area, I wanted to keep that rental in case we ever want to come back. But even if we do come back, we probably want to move to the city, so it’s really just parking money in the property.