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Updated over 8 years ago on . Most recent reply
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When is rental income considered income?
Aloha BP, I've read that lenders require at least 2 years of collecting rental income before it can be considered income but does this 2 year clock start for each investment property or only for the first one? For example, I buy a property on August 26, 2016 so by August 26, 2018 lenders will consider that part of my annual income. But what happens if between August 26, 2016 to August 26, 2018 I buy 10 more properties, do those get included in the 1st property's 2-year window or does each individual property start their own 2-year clock? Thanks in advance.