To sell or stick it out when it comes to your investment property? That is the million-dollar question.

As you probably know, the Perth property market, in its buying, selling and leasing capacities has fallen, shifted and risen again in just over a year.

And with the end of the rental moratorium on evictions and rental increases recently coming to a close, it has many landlords unsure what to do next. To sell or hold on?

So, should you sell your investment property in 2021?

Read more from the Perth property management experts at Pro Property Group to find out.

The current Perth rental market

Like with anything major, do your research and understand what it will mean to sell in the current market. Remember that the type of investment property you own, and its location will hold a lot of power in your final decision.

According to latest figures, vacancy rates for rental properties are below 1%. This means there’s often more people vying for a place to rent, and lower stock available. For the first time in years, landlords are the winners in the current market.

What are the right circumstances to sell?

There’s no right or wrong circumstances to sell, but there are some factors that work together to ultimately help landlords in their decision.

Let’s take a look at some of them:

  • Changes to your financial situation,
  • Changes to your career or transitioning into retirement,
  • Health issues, and/or
  • Other investment opportunities that pique your interest more.

One or a combination of the above factors account for many landlords selling their properties. However, if none of these factors are presenting themselves in your personal life, experts are recommending not to sell, just yet.

What are the right circumstances to hold on to your investment property?

There’s some fairly good reasons why you should sell your investment property. Then there are the reasons which indicate you should hold off from selling for now.

Why you shouldn’t sell your investment property:

  • It’s currently, reliably providing a healthy return on investment (ROI),
  • Rental returns that can increase if you hold on, and/or
  • You can safely wait until the market stabilises or improves.

If you are experiencing these benefits, and you know the current demand for rentals in Perth, it’s very worth holding off selling your investment property for the foreseeable future.

What else should you consider?

Of course, there’s more things to think about when selling or staying with your investment property.

Here’s what to think about:

  • Predictions of capital gains tax,
  • Rental increases, and
  • The costs involved with selling.

The best advice for selling or managing your rental property is available through your Perth property management team.

Perth property management

Pro Property Group are the leaders in Perth property management. Why? Because we take care of all your residential and commercial properties, source suitable tenants and handle all requests.

You need only sit back and enjoy the return.

Talk to the Pro Property Group team about the best Perth property management solution for your buying, selling or leasing needs.

Need property management in Perth?

Contact Pro Property Group for all your buying, selling, leasing and property management needs.