It’s something that is coming up more often since the pandemic hit. Owning a rental property is usually a sure-fire way to maintain a solid stream of passive income, but there are some landlords who are now having trouble maintaining that investment.

So, is it time to sell that rental property? COVID-19 created the perfect storm for some rental property owners. The pandemic ate up a lot of their profits from the property since many renters began defaulting but were protected by federal and state eviction moratoriums. This meant that many property owners still had to pay their mortgages on these homes, but were not getting the rental income they needed. Facing their own financial distress, many of these landlords are now at a crossroads with what to do with these properties. And even as eviction moratoriums end throughout the nation, they will most likely be phased out slowly, rather than all at once, meaning some renters may continue to benefit from eviction protection after the moratorium has officially ended. And once protected tenants do leave a property, landlords may still be on the hook for their missed rent payments for some time.

For some property owners, the easiest way out of this situation may be to sell. And in terms of selling, now is still a great time! Home inventories are still historically low and properties priced correctly are still being gobbled up in record time.

If you or someone you know owns a rental property and is looking to sell while prices are still sky-high, shoot me a message on Facebook and let’s chat!

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