real estate






 

Question by  Kenny (18)

Can you rent your primary residence if you have a mortgage on it?

I would like to rent my primary home and have a mortgage on it.

 
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Answer by  Mary (2095)

You may need a business license and other requirements for the rental property but the mortgage does not prevent renting the property. The interest on the mortgage then becomes a business expense and is deductible as such. The home devalue is also deductible over time.

 
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Answer by  starke (57)

Yes you can rent your primary residence if you have a mortgage on it, but you have to make sure you have all of the details on paper and have the renters sign them.

 
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Answer by  technogeek (6640)

Provided you have somewhere to live, yes, you can rent a home that has a mortgage. Use the rent to pay the mortgage.

 
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