Short Term Renting Primary Residence

Rental Property Investor · North Conway, NH · Member since 2016 · 69 posts · 16 votes

Is it possible to buy a primary residence and live in it but also rent it on AirBnB when I'm on vacation or on weekends when I'm away? Are there a certain number of days the house must be owner occupied to stay within the mortgage guidelines for OO?

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JD MartinBusiness Member

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Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes

As long as you don't own another property I doubt anyone can claim you don't live there, regardless of the short-term rental stuff. For taxes the IRS usually considers anywhere you live more than 6 months your "primary" residence.

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JD MartinBusiness Member
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Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
9y
As long as you don't own another property I doubt anyone can claim you don't live there, regardless of the short-term rental stuff. For taxes the IRS usually considers anywhere you live more than 6 months your "primary" residence.
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OP
Rental Property Investor · North Conway, NH · Member since 2016 · 69 posts · 16 votes
9y
Quicken Loans said you could only rent a primary for two weeks a year. Does anyone know if this is a requirement with all lenders or just them?
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Blake Brose
Realtor · Kansas City, MO · Member since 2014 · 148 posts · 40 votes
9y
@Account Closed
It all depends on the lender. Some lenders don't care what you are doing with the house at all. As long as you are paying the mortgage, they couldn't care less.
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Blair Russell
Investor · Las Vegas, NV · Member since 2015 · 273 posts · 217 votes
9y
@Blake Brose is right but don't forget Insurance, and the IRS.
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Rental Property Investor · North Conway, NH · Member since 2016 · 69 posts · 16 votes
9y
From what I understand if you buy a primary residence with a low down payment you often have to live in the home for a certain period of time. Is that not what others have heard?
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Jeff B.
Buy & Hold Owner · Redlands, CA · Member since 2015 · 5k+ posts · 2k+ votes
9y
Lookup Vacation Home occupancy, which limits the number of days you can use it and still consider it non-primary. Sure the STR would be treated similarly.
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