If you’re a landlord thinking about selling a rental property, one of the biggest decisions you’ll face is whether to make repairs first—or just sell the property as-is. Maybe the place has seen better days. Maybe your tenants haven’t exactly treated it with care. Or maybe you’re just done with the whole landlord thing and want out without sinking more money into the property.
Whatever your situation, knowing whether to fix or sell as-is depends on a few key factors: your timeline, your budget, the condition of the home, and the kind of buyer you want to attract. Let’s walk through the pros and cons of both options to help you make the best decision.
When It Makes Sense to Fix Up Your Rental
There are definitely scenarios where putting some work into the property is worth it. Here’s when making repairs might make the most sense:
- You want top dollar – If your goal is to maximize the sale price, making smart upgrades can help.
- The repairs are mostly cosmetic – New paint, fresh flooring, or updated fixtures can go a long way without breaking the bank.
- The property is vacant and easy to work on – No tenants in the way means quicker, smoother renovations.
- You’re planning to list on the MLS – Retail buyers (especially first-time homeowners) usually want move-in-ready homes.
- You’ve got time and money – If you’re not in a rush and can afford it, renovations could pay off.
Example: If your rental is only 10-15 years old, has been well maintained, and just needs a few cosmetic touch-ups, you’re in a good position to fix it up and sell for more.
When It’s Better to Sell As-Is
Now, on the flip side, there are plenty of situations where fixing up the place just doesn’t make sense:
- The home needs major repairs – We’re talking foundation issues, plumbing or electrical problems, roof damage—the expensive stuff.
- Your tenants are still living there – Especially if they’re messy or uncooperative, trying to do repairs while they’re in place can be a nightmare.
- You need to sell quickly – If you’re relocating, retiring, or just done with being a landlord, time might be more valuable than squeezing out a few extra bucks.
- You don’t want to spend another dime – Renovations often cost more than expected. Selling as-is lets you walk away without the hassle.
- You’re selling to a cash buyer or investor – They’re used to buying homes that need work. In fact, they expect it.
Example: If the property hasn’t been updated in decades and the tenants have done some damage, selling as-is to an investor may be your best option.
Factors to Consider Before Deciding
Still unsure which way to go? Here are a few things to think about:
- Property condition – Are the issues minor and mostly visual, or does the home need serious repairs?
- Your timeline – Can you afford to wait a few months to fix it, or do you need to sell soon?
- Your budget – Do you have the money (and patience) to handle repairs or renovations?
- Tenant situation – Are they easy to work with, or will they make the process harder?
- Who you’re selling to – Investors don’t mind a fixer-upper. Traditional buyers usually want move-in ready.
How Cash Buyers Approach Repairs
One common myth is that selling as-is always means taking a lowball offer. That’s not always true—especially if you work with a reputable cash buyer. Most cash investors use a simple formula to calculate their offer:
After Repair Value (ARV) – Repair Costs – Selling Costs – Minimum Profit = Fair Cash Offer
It’s not personal. It’s just numbers. A good buyer will be transparent and even show you how they arrived at their offer.
Final Thoughts
There’s no universal right or wrong answer here. If you’ve got a solid property that just needs some polish, fixing it up could lead to a higher payday. But if the thought of dealing with contractors, tenants, and extra expenses makes your head spin, selling as-is might be the stress-free way out.
At the end of the day, it’s about what works best for your situation. Either way, you’ve got options—and you don’t have to figure it all out alone. So whether you're leaning towards fixing up the property and selling for fair market value of selling as-is to a cash buyer, we can help!
