You lived the condo life. And now, you’re finally upgrading to that dream house with a yard, a garage, and — if you’re lucky — storage space that doesn’t involve stacking things to the ceiling.

But before you list your condo for sale, you might be wondering: Should I rent it out instead? Here’s the unfiltered truth from a team that’s walked in your shoes:

The Perks of Holding On

Let’s start with the positives. Renting out your condo means you’re stepping into the role of landlord:

• Monthly Cash Flow: If your mortgage is low enough (or paid off), you could be making a nice profit every month.
• Long-Term Investment: Real estate generally appreciates over time. Renting means you’re holding onto that asset while someone else pays down your loan.
• Flexibility: Moving away but not ready to let go of your city spot? Renting gives you options. You might want that condo back someday (hello, pied-à-terre).

Real estate can be a great way to build equity for yourself. Check out these recent blog posts to learn more!

• Best DC Neighborhoods For Investors In 2025
• Managing Your Investment Property Like A Pro
• Investing In Your Future: Why You Should Buy Your Next Home, Not Rent It

But Let’s Be Honest, There Are Some Headaches

Now for the less-fun things that no one puts in the Zillow description.

• You’re Still the Owner: That means repairs, maintenance, and those delightful HOA emails are still coming your way.
• Tenant Troubles: Most renters are great. Some… not so much. Late rent, mystery wall holes, and noise complaints can invariably become part of the package.
• HOA Rules: Not all buildings allow rentals — or they might cap the number of units that can be rented. First things first? Make sure your building’s bylaws are on your side.

Rent or Sell? What to Consider:

Here’s what to keep in mind before you list your condo for lease:

• Do the Math: Will the rent cover your mortgage, taxes, insurance, and HOA fees? Be honest. If not, you might be better off selling.
• Market Timing: If the sales market is hot, it might be smarter to cash out and use that equity for your next move.
• Long-Term Goals: Is this your forever home base? A potential future crash pad? Or just extra responsibility you don’t want anymore?
• Tax Implications: Sure, rental income is taxable, but there are deductions to keep in mind. On the flip side, if you wait too long to sell, you could lose some homeowner capital gains tax exemptions.

Looking for more real estate investing advice? Whether you’re aiming to diversify your portfolio or move into a bigger home, here are some posts you might find interesting:

• How to Build Equity in Your Home Faster
• Should You Buy a Home that Needs Work?
• Buying a Bigger Home in the Same Neighborhood

Final Thoughts: Know Your Why

Renting out your condo can be a savvy move, but only if you’re clear on your goals from the start. If you’re looking for long-term growth, passive income, and a bit of real estate diversification — go for it. If you want a clean slate and fewer obligations, selling might be your best bet.

Just remember: You lived in that condo. You know its quirks, its perks, and its odd little noises. That insider knowledge gives you a leg up — whether you’re handing it off to a renter or setting the stage for the next lucky owner.

Ready to talk it over? Our team of specialists is here to help you decide what the right move is for you. Get in touch with us today by calling 202.280.2060 or emailing us at jsmira@jennsmira.com.