Renting out vs selling your property: Which should you choose?

News at Jones Robinson | 22/09/2021

When it comes to maximising the return on investment for your property, especially if this is a completely new field for you, there are several choices you can make.

To make the choice of whether to rent out or sell your property easier for you, we have compared the options and will discuss the benefits of each.

Renting out your property

Renting out your property may initially seem like an easy option, however, there is a lot to consider such as the time required to manage your tenants and property maintenance.

Pros of letting

  • Regular monthly income
  • It may make moving elsewhere quicker
  • You don’t need to pay council tax on the property, as the tenants will cover this
  • The monthly rent can often be more than mortgage payments; making a profit
  • A good tenant will pay on time and look after your property for you
  • If the housing market isn’t great right now, you can still get income from renting it out and then potentially sell later when prices are better
  • If it is your family home, it can be difficult to let go of it, so this way you still own it if you decide later in life you want to live in it again, or pass it down to your children

Selling your property

For many people, the option of selling your property may be a no-brainer as you can potentially get more money outright and release equity. However, there are many more factors to consider before making a decision.

Pros of selling

  • Once it is sold you don’t need to do anything else, and you can move on with life
  • You could be releasing equity to spend on your next house
  • No ongoing maintenance costs/repair bills etc
  • If the housing market is strong you could be seeing a nice profit

Renting out vs selling

At the end of the day, it is a personal choice as to whether you should rent out your property or sell it.

As you can see, there are plenty of advantages to both sides.

Whatever your decision, we can help you maximise your return on investment on your property.

How Jones Robinson can help

With decades of experience behind us we can support you, whichever decision you make about your property. Our staff each have on average 13 years’ worth of experience with us so you will be in good hands whoever you meet here.

As a local estate agent, we have local offices based in Newbury, Marlborough, Didcot, Lambourn/Hungerford, Devizes, and the surrounding areas we know all the best places to promote your property to give you the biggest reach. We can even advise potential buyers/tenants on local amenities to help encourage them to make their mind up.

If you decide the sell your property we will sit down with you and fully explain the sales process with you, even if this isn’t your first sale. You can decide to take as big or as small of a role during the sale, and if you don’t have the time, we can arrange for someone to conduct the viewings on your behalf.

If you decide renting out your property is the avenue you want to take, we can also assist with this. Plus, whether you are a first-time landlord or have let out several properties but don’t want the hassle, we offer a full management service to ensure you have peace of mind throughout the process. This will ensure you don’t need to spend large amounts of time answering tenant queries and arranging repairs. We will also make sure your property meets all legal requirements and legislation before advertising it. 

We will also ensure deposits from your tenant(s) are kept safe through the Deposit Protection and Tenancy Deposit Schemes which we are members of. This means you can feel satisfied that the deposits are in safe hands.

Contact us today to find out how we can help you either sell or rent out your property.