Rent It Out or Sell It: A Straight Comparison for Movers

The Question Almost Every Relocating Owner Asks

When a move comes up, someone always says, keep the house and rent it. Sometimes that advice is right. A rental can build equity, cover its own mortgage and give you a place to return to. Sometimes it is wrong for the person hearing it, because being a landlord from a few states away takes money in reserve, a reliable manager and a tolerance for phone calls at odd hours.

We are a cash buyer, so you might expect us to argue for selling. We would rather you make the choice with clear eyes. If renting fits, rent it. If it does not, we can buy the house in its current condition, without repairs or a realtor commission, on a date you set around your move.

What Being a Long-Distance Landlord Involves

Nevada landlord-tenant rules

Residential rentals in Nevada are governed largely by the Residential Landlord and Tenant Act in Chapter 118A of the Nevada Revised Statutes, which covers deposits, habitability, entry, notices and more. Owners who rent from out of state are still responsible for following it. We do not give legal advice; a Nevada attorney or licensed property manager can tell you how the rules apply to your home.

Managers, repairs and the desert climate

Most out-of-state owners hire a property manager, whose fees come out of the rent. Repairs keep happening whether the unit is occupied or not, and in Las Vegas the air conditioning, water heater and roof get heavy use. A failed AC unit in July is not a request that can wait for your next trip.

Military tenants and lease changes

The valley has a large military population, and many renters near Nellis are service members. Federal law allows active duty tenants to end certain leases early after receiving PCS orders, so a landlord near a base should plan for turnover that does not always follow the lease calendar.

HOA rental rules

Many valley communities have HOAs, and some associations have leasing rules such as registration or limits on short-term rentals. Read your CC&Rs before you commit to renting.

Side-by-Side: Keeping It Versus Selling It

One more factor is taxes. The federal exclusion on gain from the sale of a main home has ownership and use tests, and renting for a long stretch can change whether you qualify later. The IRS has special rules for members of the uniformed services on qualified extended duty. A tax professional should run your numbers.

Working Through the Decision in Three Steps

1. Price out the rental honestly. Ask a local property manager what the home would likely rent for and what they charge, then subtract your full monthly cost, including reserves for repairs.
2. Get a real sale number. Request a written offer from us and, if you like, a listing estimate from an agent, so you are comparing actual figures rather than guesses.
3. Decide based on your next few years. If you expect to come back to Las Vegas or want to hold real estate, renting may fit. If you need the equity for the next house or do not want the responsibility, selling usually fits better.

When Owners Tell Us Renting Did Not Work

Some calls come from owners who tried renting first. A tenant moved out and left damage, the manager quit, or the home sat empty between tenants while the mortgage kept drafting. We buy homes in that condition, as-is, without asking you to repair the damage first.

Selling with a tenant still in place

A house can often be sold while a tenant lives there, as long as everyone follows the lease and Nevada law. We review the lease, the deposit records and the tenant's plans before making an offer, and we do not ask anyone to pressure a tenant to leave. Some owners close with the lease transferring to us; others wait until the lease ends. Either way, keep your manager in the loop, since they usually hold the deposit and the move-in records, and the title company will want the lease terms reflected correctly in the closing documents.

If you are on military orders, our page for PCS sellers at Nellis and Creech covers timing, and our explanation of selling a home bought with a VA loan discusses how keeping a VA-financed rental affects entitlement. If you have already left, the page for owners now living out of state covers remote closings.

Rental-Heavy Parts of the Valley

Rental demand shows up across the valley, but the trade-offs differ by area. Owners in North Las Vegas close to the base often weigh military tenant turnover, while owners in the Spring Valley area deal with older homes, where some streets have an HOA and others do not. Newer master-planned areas tend to have stricter association rules, while older streets may need more updating before a tenant would pay full rent. To see how a direct sale closes, review the steps of selling to a cash buyer, and for questions about inspections, costs and leftover belongings, our seller questions and answers cover the basics. Every other relocation scenario we handle is listed on our overview of moving situations.