Which is better to Sell now or later?

[Lisa Hayashi]

Our dad is no longer living in his home because he is in assisted living. The home is paid for and there is currently a tenant in it. The income is helping to offset the expense of assisted living. Is it better for him to sell it now before the 2 out of the last 5 years requirement expires (for the capital gains exclusion) or to just leave it as a rental and sell it much later after he's gone with a stepped up basis. The property is in a trust. Btw, he has enough savings where he doesn't necessarily need the rental income this late in his life.