Renting out my Primary Residence

[Tyler Cook]

Has anyone approached their lender to ask if they could rent out their Primary Residence? What is the best way to approach/frame the conversation with your lender so that they will allow it? If I say I need the rental income to pay my bills, is this the best approach? Thanks!

[Reid Chauvin]

@Tyler Cook - generally a conversation with your lender is not necessary to convert your primary residence into a rental. Only reason I can think of to have that conversation is if you are buying a new property and need to use the rental income to help you qualify for the next loan.