Question: Should I rent or sell my property?

Answer: A number of questions should be asked, including:

1. If you rent, can you rent and have a positive cash flow?

2. Are property values in your community generally rising?

3. What are the tax implications? Speak with a tax professional for details.

4. Does your community have rent control (about 200 areas now have rent control)? If so, what are your obligations? Note that in some cases if you are only renting one or two houses you may be exempt from rent control, but only if you file for an exemption. See a real estate broker for details.

5. Will you need or want a professional manager? Speak with several brokers for details.

6. If you were to sell, is there a better place to put your money?

7. Do you have a personal preference that favors one choice or the other?