If you are about to move away and expect to be out of the state or country for awhile you might be wondering whether it would be better to rent or sell your Calgary home. While there are advantages to each, the safer choice is tosell the property.
Your home is probably the biggest investment of your life and if you plan on leaving Calgary for awhile you'll need to make sure that you have left someone that you can trust 100% in charge of it. If there is a problem with the tenants and they have to vacate the premises, your home will be left unattended and this is a major security issue.
Things happen in life and nothing is guaranteed. A lease or rental contract can be broken in a moment's notice if an emergency happens.
The person that you leave in charge of your house must be willing to handle an unexpected vacancy and do everything possible to safeguard your investment. What do you do if something happens to the person you have left in charge?
Of course, you can always have a management company look after it if you don’t want to sell your home but again this does carry some risk. Even a great property management business can be taken over while you are gone and the whole company could go downhill. Stranger things have certainly happened before!
The condition of your home
If you aren't inspecting your home from time to time while it is being rented out there is always a chance that it is being damaged. You need to have someone that you can trust to do an inspection on your home at least once or twice a year. This way, the damage can be somewhat controlled. Some of the worst horror stories about damage are about renters that seemed very responsible.
While some of the instances seem far-fetched and there are a lot of “what-ifs” involved, remember that this is your major investment we are talking about and it needs to be protected at all costs. If you decide to sell your Calgary home you won't have any of these worries on your mind. It may not always be the soundest financial decision but it is always the safest one to make.