Wanting to rent out secondary home/investment property

2 Replies

Hi All,

This is my first post on here so looking forward to learning with/from everyone. My first question is about my secondary home.

I purchased a secondary home outside my original home in Nashville with intentions of staying here a large chunk of the year and working remotely. I've had the property a few months, and now my job has changed their directive on working remote and I am not able to achieve what I intended to do with the property. 

Am I able to rent this property out on a full year lease now? I don't want to sell really, and air bnb is too much work for me currently. I may want to use this as a vacation property again down the road, but right now my job does not allow.

I am just looking for some advice and if I should write a letter to the lender explaining my situation or what the best route to take would be.

Thanks so much!


@Tyler Cook

That’s a tough one. If it was me, I don’t think I’d go out of my way to contact the lender.

Since it’s your residents, str shouldn’t be in issue in Nashville... to stay on the up and up you could find a manager to help you short term rent for the remainder of the year. Rent to a traveling nurse? After that switch over to a long term rental?

Lenders have rules about renting places out. However, if it's truly beyond your control, I wouldn't sweat it and I wouldn't bother contacting the lender.

Is there a restriction of renting for a certain number of years, or does your mortgage say you can never use it as a rental?