Name: Diamond Certified Experts: Rent or Sell?
Uploaded: 2016-12-12T21:50:03Z
Channel: Diamond Certified Resource

SOUTH SAN FRANCISCO — Host, Sarah Rutan: If you’ve inherited an investment property, you’ll need to determine whether it’s a better idea to rent it or sell it. Today we’re in South San Francisco with Diamond Certified Expert Contributor Michael Kenny of Kenny Realty to learn more.
Diamond Certified Expert Contributor, Michael Kenny: In the past many of my clients have come in and asked me the benefits versus rent versus sell when they inherit a property from a loved one. The fact is the cost of renovation is about the same whether you&#8217;re going to make it a rental or you&#8217;re going to sell the property. A lot of times clients will decide that they want to sell a property because they want an investment closer to where they live. So, if they&#8217;re from a different part of the country, they may want their rental near them so they can drive by it. It&#8217;s always good to check with your tax preparer because there can be tax advantages or disadvantages to sale versus renting.
Just remember, some people feel that being a landlord can be hassle. That&#8217;s what a good property manager is for. A good property manager gets in and insulates between tenant and landlord and takes care of a lot of the smaller problems for you, and believe it or not, people have emotional ties to property. In my case, my father inherited my grandmother&#8217;s house. He had other rentals and then immediately put my grandmother&#8217;s house on the market, and I didn&#8217;t really understand why and I talked to him later and he said, &#8220;It would break my heart to see a tenant get in and damage my mom&#8217;s house in any way.&#8221; So, if you&#8217;re too emotionally tied to the house, it&#8217;s probably not a good idea to make it a rental.
And then finally, a lot of times you may be inheriting a property with a sibling or another family member. Make sure it&#8217;s somebody that you can do business with and that you&#8217;re going to work well together because partnerships are another reason that we see people turn around and sell the property.
Host, Sarah Rutan: To learn more from local, top rated companies, visit our Diamond Certified Expert Reports at experts.diamondcertified.org.

Michael Kenny, President of Michael Kenny - Kenny Realty, Inc., a Diamond Certified company, goes over if you’ve inherited an investment property, you’ll need to determine whether it’s a better idea to rent it or sell it.
 
 To learn more about Michael Kenny - Kenny Realty, Inc., visit https://www.diamondcertified.org/report/michael-kenny-kenny-realty-inc/
 
 To learn more about Diamond Certified and find top rated companies in your area, visit https://www.diamondcertified.org/

Diamond Certified Experts: Rent or Sell?

with Michael Kenny of {BR} Kenny Realty, Inc.

Video: Rent or Sell?

https://www.youtube.com/watch?v=tQO0PBmzeSs

Host, Sarah Rutan: If you’ve inherited an investment property, you’ll need to determine whether it’s a better idea to rent it or sell it. Today we’re in South San Francisco with Diamond Certified Expert Contributor Michael Kenny of Kenny Realty to learn more.

Diamond Certified Expert Contributor, Michael Kenny: In the past many of my clients have come in and asked me the benefits versus rent versus sell when they inherit a property from a loved one. The fact is the cost of renovation is about the same whether you’re going to make it a rental or you’re going to sell the property. A lot of times clients will decide that they want to sell a property because they want an investment closer to where they live. So, if they’re from a different part of the country, they may want their rental near them so they can drive by it. It’s always good to check with your tax preparer because there can be tax advantages or disadvantages to sale versus renting.

Just remember, some people feel that being 


If you have inherited an investment property, you'll need to decide whether it's a better idea to rent it or sell it. Today we're in South San Francisco with diamond certified expert contributor Michael Kenny of Kenny Realty to learn more. In the past, many of my clients have come in and asked me the benefits versus rent vs sell when they inherit a property from a loved one. The fact is, the cost of renovations is about the same whether you're going to make it a rental or you're going to sell the property. A lot of times, clients will decide that they want to sell a property because they want an investment closer to where they live. So, if they're from a different part of the country, they may want their rental near them so they can drive by it. It's always good to check with your tax preparer because it can be tax advantages or disadvantages to sell versus renting. Just remember, some people feel that being a landlord can be a hassle. That's what a good property manager is for. A good property manager gets in and insulates between tenant and landlord and takes care of a lot of the smaller problems for you. And, believe it or not, people have emotional ties to property. In my case, my father inherited my grandmother's house. He had other rentals and then immediately put my grandmother's house on the market. And I didn't really understand why. I talked to him later, and he said it would break my heart to see a tenant get in and damage, you know, my mom's house in any way. So, if you're too emotionally tied to the house, it's probably not a good idea to make it a rental. And then finally, a lot of times, you may be inheriting a property with a sibling or another family member. Make sure it's somebody that you can do business with, that you're going to work well together because partnerships are another reason that we see people turn to learn more. From local top-rated companies, visit our diamond certified expert reports at experts Diamond Certified org.


Michael Kenny: Realty Roots

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Michael Kenny - Kenny Realty, Inc.

Michael Kenny - Kenny Realty, Inc.

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