This question is an oldie but a goodie, and the answer is yes, no, maybe.
The reason for the above response is that there are so many questions:
- Is it too old to be a rental?
- Are you emotionally attached to the place?
- How would you feel if a tenant damaged the place?
- Is it near schools, transport, etc?
So you decide to keep it and you get it tenanted and all is going well, until your accountant tells you things could have been better for you from a tax perspective, if you’d consulted them before you did all this.
So as you can see, the question may seem simple, however it never really is.
Seek advice before you do anything.