Trying to decide if you should rent out your property or just sell it? It’s not always an easy call. That’s why we created this simple rent vs sell calculator to help you weigh the pros and cons in dollars. Just plug in your numbers and see what might make more sense for you financially.
How It Works: You’ll enter your property’s value, rental income, and a few expenses. The calculator will show you the estimated return if you rent vs. if you sell, so you can make a more informed decision.
Why It Matters: If you’re managing a rental, things like pest control and upkeep can add to your long-term costs. Services like Pest Share can help reduce surprises, but it’s still smart to see the big picture.
Use the Calculator Below: Scroll down and fill in the details. You’ll get a quick breakdown of your potential gains from both options.
What to Do With Your Property: Rent or Sell?
So, you’ve used the calculator above to crunch some numbers—great start!
But before you make your final decision, let’s walk through what all this means in real life. Whether you’re leaning toward renting or selling, there are a few more things to think about beyond just the math.
1. Get Your Property Details in One Place
The more accurate your inputs are, the more useful your results will be. Here’s what you’ll want to gather:
- What’s your home worth today?
- What’s left on your mortgage?
- How much could you rent for each month?
- What are your usual monthly expenses (mortgage, taxes, insurance, etc.)?
- How much will it cost to get the place “rent-ready”?
If you’re not sure what you’d charge for rent, check out similar homes in your neighborhood or talk to a local real estate pro.
2. Consider the Make-Ready Costs
Getting a place ready to rent usually means a few updates. Maybe it needs a deep clean, fresh paint, or a few minor repairs. Some owners call this “make-ready” or “turnover” costs. You might need to:
- Fix broken appliances
- Replace flooring or paint
- Check plumbing or electrical
- Handle pest problems
- Update locks, detectors, or safety features
This can be a one-time upfront cost, but it’s worth factoring in. The better condition your home is in, the easier it is to find good residents—and keep them.
💡 Pro Tip: With services like Pest Share, pest control is one less thing you or your residents have to worry about. It keeps your property in top shape and makes your rental even more attractive.
3. Know What It Takes to Be a Landlord
Renting can bring in monthly income, but it’s not totally hands-off. As a landlord, you’re responsible for:
- Fixing things when they break
- Handling emergency calls
- Collecting rent and managing issues
- Keeping the property safe and up to code
Of course, hiring a property manager can take a lot of this off your plate. That way, you still get the income without all the day-to-day tasks.
4. Think About Your Long-Term Goals
Ask yourself: What’s your goal right now?
- Need a big chunk of cash now? Selling might be the way to go.
- Want to build long-term wealth? Renting could be a smart move.
Sometimes it’s not just about the numbers. It’s about your life plans. Are you planning to move far away? Do you want steady income for retirement? These personal goals matter just as much as your calculator results.
5. Understanding ROI (Return on Investment)
ROI is a fancy term for how much you’re getting back from your investment. Here’s a simple way to think about it:
For selling:
ROI = (Selling Price – Costs – Mortgage Left) / Total Costs
For renting:
ROI = (Yearly Rent Income – Expenses) / Total Costs
Many investors consider a 10% ROI strong but this can vary depending on your location, market trends, and how well you maintain the property.
6. Rent or Sell?
There’s no one-size-fits-all answer. But with the calculator, a little research, and a clear picture of your goals, you’ll be in a much better position to decide.
And remember—keeping your property well-maintained can boost both rental value and resale value. Pest Share makes pest control simple, reliable, and stress-free for everyone involved, whether you’re renting now or selling later.
