The decision to sell or rent a home is complex. Can you afford two homes? Do you have sufficient funds to cover both homes especially during times the rental is vacant? Local supply in demand in this area now makes renting your home much more appealing than ever. Also, you can incur additional costs associated with hiring a professional property management firm like LLW Properties. However a good manager usually pays for itself given the chance for problems with tenants and your inability to manage the maintenance aspects of the property and hold down your regular job.

Current tax law gives homeowners a ton of flexibility when dealing with a former residence including the lack of taxes on any gain from the sale of the rental under certain circumstances. Consult your Certified Public Accountant (CPA) for more information. You can use this link to look at the Return on Investment from Renting to get a general idea of the answer to this question.