Owning a rental property is a great way to earn passive income, but it can be a lot of work. If you’re thinking about selling your rental property, here are five signs that indicate it’s the right time to sell your house fast in Atlanta, GA.
#1 Being A Landlord Doesn’t Interest You Anymore
Being a landlord can be a lot of work. You have to deal with tenants, repairs, and maintenance. If you’re not interested in being a landlord anymore, it might be time to sell your rental property. You can use the money from the sale to invest in a less hands-on investment, such as a mutual fund or an ETF.
#2 Property Values Are Rising While The Value Of Rent Is Decreasing
There’s no denying that Atlanta is a hot market when it comes to real estate. The median home price in the city has risen by more than 20% in recent years. However, the rental market is no longer as appealing as it once was. Since the Covid-19 pandemic, demand for rental properties has been declining. Moreover, being a landlord is becoming less profitable due to rising maintenance and utility costs.
#3 You Went Through A Major Life Event
Perhaps you’ve gone through an unexpected health crisis, job loss, or a bitter divorce. It’s okay to acknowledge that your life has changed and that you no longer have the same passion for being a landlord. It’s time to re-evaluate your priorities in life, and selling the house can give you some breathing room.
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#4 You Want To Focus On Other Investments
There are other investment opportunities that can earn you a good amount of money, and with these you won’t have to deal with the hassles a landlord often deals with. You can invest in stocks, bonds, CDs, mutual funds, and real estate investment trusts (REITs). These are all excellent ways to make money, but keep in mind you do have to do some research before buying.
#5 Maintenance And Upkeep Costs Keep Going Up
It’s important to be proactive with maintenance when you own a rental property. Investing in routine maintenance will save you money in the long run, as it’s likely you won’t have to deal with significant repairs often. However, if repairs are starting to pile up and you’re starting to not make money on the property, it’s time to sell.
Selling a rental property is a big decision. You must take many things into account, most importantly your financial situation. If you are worried that you may not get a fair offer on your home, selling to a cash home buyer is a great option.
We buy houses in Atlanta, GA , regardless of condition or location. We can close in under 30 days. Contact us to get a fair cash offer.
The author is a real estate investor and a popular cash home buyer in Atlanta, GA. They make offers on homes in less than 24 hours. Visit https://www.barringtonhomebuyers.com/ to learn more about what they do.