Selling or renting your townhome should be based on your long term goals. I recently had a listing in Downtown Long Beach, a 1904 Victorian home that my clients and I felt was priced to sell. Our obstacle was there was no garage and that anyone buying it had to put their car on the street or pay for parking only a few blocks away. We had offers but not to my clients satisfaction. They were not in a position of "must" sell.
I don't feel it is easy to property management when you leave too far away and they live on the East Coast now. However, they felt after much discussion this was the way to go for them. I handled the rental portion and advertised on Craig's list, which I highly recommend if you rent yourself . I had 45 people view the home in 3 days, took 12 applications, and had 3 that had excellent references and credit. We discussed our choices and selected a tenant and truely feel they will take care of the property. I suggested to my clients that in our rental agreement we state that if a repair is needed, the tenant will inform the landlord and if the repair is $75 or less that the tenant has permission to have the repair done, deduct it from the next month's rent as long as a receipt is provided to the landlord and an approved vendor we provide is used. I provide a list of vendors I use for repairs when the landlord or tenant need it.
It is importantto ask property management or rental companies should you decide to rent to see how they conduct their business and what the fees are. Also some management companies charge a fee everytime the lease is renewed. There are a different fees when you just have the place rented and you self-manage v ersus having them rent and manage it for you. Most management companies will expect to get a fee if the tenant in the future should want to buy the property. That happens too.
My clients too had a job change and for them this was the best scenario, But they did try to sell it first since they were concerned about being so far away and renting the home. So far it is working out well for everyone.
If I can be of any other help, please feel to contact me at 714-296-7270 or email me at firstname.lastname@example.org.
Good luck with your decision,
Barbara Robbins-Olexa, Broker,e-Pro(R)