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Owning a rental property in Sunrise was supposed to be your ticket to passive income — but somewhere between the 2 a.m. plumbing calls, the late rent payments, and the rising insurance premiums, that dream started feeling more like a second job. If you’re a landlord ready to walk away, you’re not alone. Plenty of Sunrise property owners are quietly looking for a fast, clean exit without the months of showings, repairs, or tenant drama that come with a traditional sale.

The good news? You have more options than you think — and selling fast doesn’t have to mean leaving money on the table. Let’s break down what tired landlords in Sunrise need to know before they list, call an agent, or accept that first cash offer.

Why So Many Sunrise Landlords Are Selling Right Now

Sunrise has changed a lot over the past few years. Rental demand is still strong, but so are the headaches that come with being a Florida landlord. Property insurance has skyrocketed, HOA fees in communities around Sunrise Lakes and Welleby keep climbing, and Florida’s relatively landlord-friendly eviction process still takes weeks — time you may not have if a tenant stops paying.

Common reasons landlords in neighborhoods like Sunrise Golf Village are reaching out to cash buyers include:

• Burned-out from managing tenants or remote landlording from another state
• Costly repairs piling up — roof, AC, plumbing, or hurricane-related damage
• Inherited a rental they never wanted to manage
• Wanting to cash out equity while Broward County values are still strong
• Problem tenants, code violations, or pending evictions

If any of that sounds familiar, selling fast might be the cleanest way to reclaim your time and your peace of mind.

What About Capital Gains Tax in Florida?

Here’s some good news: Florida has no state income tax, which means no state-level capital gains tax when you sell your rental. That’s a significant advantage compared to landlords selling in places like California or New York. However, you’ll still owe federal capital gains tax — typically 15% or 20% depending on your income bracket — plus depreciation recapture, which is taxed at up to 25% on the depreciation you’ve claimed over the years.

For a property you’ve owned for a decade in Sunrise, that depreciation recapture can be a surprisingly large number. Before you sell, it’s worth running the numbers with a CPA so you know exactly what you’ll net. And remember: in Florida, real estate transactions also include documentary stamp taxes on the deed (currently $0.70 per $100 of sale price in Broward County), which is typically paid by the seller.

1031 Exchange: Defer the Tax, Keep Investing

If you love being an investor but hate this particular property, a 1031 exchange might be your move. A 1031 lets you defer all federal capital gains and depreciation recapture taxes by rolling the proceeds into another “like-kind” investment property within strict timelines:

• 45 days to identify replacement properties after closing
• 180 days to close on the new property
• Must use a qualified intermediary — you can’t touch the cash

Many Sunrise landlords use 1031 exchanges to trade a high-maintenance single-family rental for a turnkey property out of state, a small multifamily, or even a triple-net commercial lease where the tenant handles everything. It’s a powerful tool — but the clock starts ticking the day you close, so plan ahead.

Selling With or Without Tenants In Place

One of the biggest worries landlords have is, “Do I have to wait until my lease ends or kick my tenants out?” The answer: not always. You can sell a tenant-occupied property as-is, and many cash buyers actually prefer it that way — instant rental income from day one. Under Florida law, the existing lease transfers to the new owner, so your tenants’ rights stay intact.

If you want to sell vacant, you’ll need to either wait for the lease to end or negotiate a “cash for keys” arrangement. Either way, you don’t need to repaint, repair, or stage anything if you’re selling to a cash buyer.

If you’re ready to talk through your options — whether you’re in Sawgrass, Sunrise Lakes, or anywhere else in the city — give our team a call at (619) 480-0195. We’ll walk you through a no-pressure cash offer, explain how the timeline works, and let you decide what makes sense. No fees, no commissions, no repairs.

Frequently Asked Questions

Can I sell my Sunrise rental property with tenants still living there?

Yes, absolutely. In Florida, an active lease transfers with the property to the new owner, so tenants can stay through the end of their lease term. Cash buyers and investors often prefer occupied properties because the rental income starts immediately. You won’t need to evict anyone or wait for them to move out before closing.

How fast can I actually close on a rental property sale?

With a cash buyer, closings in Sunrise typically happen in 7 to 21 days, depending on title work and any tenant coordination. There’s no mortgage underwriting, no appraisal contingencies, and no waiting on a buyer’s bank. If you need a specific closing date to align with a 1031 exchange or tax planning, that’s usually easy to accommodate.

Will I owe a huge tax bill if I sell my rental?

You won’t owe Florida state income tax, but federal capital gains and depreciation recapture still apply. The exact amount depends on your purchase price, depreciation claimed, and current income. A 1031 exchange can defer those taxes entirely if you reinvest in another investment property, so talk to a CPA before you sell to map out your best strategy.

Do I need to make repairs or clean the property before selling?

No. When you sell to a cash buyer, the property is purchased as-is — including any deferred maintenance, code violations, or damage left behind by tenants. You don’t need to paint, replace flooring, fix the roof, or even haul away belongings. That alone can save tired landlords thousands of dollars and weeks of work.