Apart Owner should we rent or sell.....

We have an apartment with mortgage fully paid and are trying to decide whether to rent or sell? Taking into consideration the following: rent received, fee to letting agency, fee to PRTB, taxes to government (growing by the day), cost of accountant for tax returns, maintenance on apartment, apartment management fees etc - is it worth the hassle???? Opinions welcome...

Have a go at calculating the yield for starters, i.e. work out the net income after all the charges you've listed and divide it into the net selling price (after costs of selling). How does this percentage compare with alternative investment possibilities?

In my view, the yield would need to be greater than comparable investments, given the additional work involved with property ownership, lack of liquidity, possibility of further Government taxes and levies etc.