Purchasing a rental property can be a lucrative business. Yet, at some point, every owner comes to a predicament: to sell or not to sell. Knowing when it's the right time to sell property isn't always obvious. Thankfully, there are a few common signs that can help you determine when it's the right move. 

How to Tell It's Time to Sell a Rental Property

1. Feeling Overwhelmed 

Many individual real estate investors imagine owning rental property as a hands-off venture. Unfortunately, it's an incredibly time-consuming commitment. As the landlord, you must be available round-the-clock to handle emergencies and tend to any property or tenant needs. With multi-family housing units, such demands can become a constant part of everyday life. 

If you find yourself in such a situation, it's natural to feel momentarily overwhelmed. However, when the responsibility becomes consistently challenging, then it's time to consider selling the property and moving on to a less stressful investment. 

2. Experiencing Mounting Costs

All businesses cost money, and a rental property is essentially a business. However, the ultimate goal is to earn a profit.

Maintenance and repair costs can add up quickly, especially with older buildings. In some areas, rent amounts can't keep up with rising landlord expenses, like property taxes. When these costs start to reduce or eliminate the profit, it may be best to sell before losing any more money. 

3. Rising Market Value

Transitioning neighborhoods are one of the top attractants to property buyers looking to grow their investment. They offer the opportunity to buy low and then sell high. Yet, to access the jump in market value, you have to sell. Otherwise, your potential earnings are restricted to rental income. 

Ready to move on from being a landlord? Epic Real Estate Investments offers a hassle-free approach to selling property. Based in Onalaska, WI, the local real estate broker offers cash for houses in La Crosse County and the surrounding communities, including Madison and Rochester, MN. Find out how they can help you today by filling out their online request form or calling (608) 399-6030.