There is plenty to consider for a landlord wondering if they should continue renting or sell a struggling property just as for a tenant wondering if they should continue renting or look to buy. I am always pointing out to real estate investors and professionals I speak with about how there needs to be more to the decision than the numbers surrounding the property.
To me, it is about doing the research above and beyond real estate trends. Knowing how your amenities compare against similar nearby properties hopefully brings out advantages. Local happenings such as proximity to healthcare, public transportation, schools, or major employers bring advantages. Monitoring rent trends and the sale market (days on market, asking price vs selling price, etc.) over the course of weeks, months, and years can impact your eventual decision.
For example, the below linked article details public transportation trends in some cities to show how much (or how little) reliance has changed since the pandemic. Consequently, if fewer people are commuting in the area where your property or opportunity is located, it may not be as attractive to a potential tenant as it once was.
If you do the right research and accept the findings no matter what they are, your important decisions can be made for you. There is much less regret or questioning when the information you find points you in a particular direction. Performing and providing unbiased research is a specialty we use to help you become “first in” on your next opportunity!
https://www.governing.com/transportation/public-transits-pandemic-woes-persist