Convert secondary home to rental

[Deepak C.]

Hello BP community,

I’m a newbie to real estate and had a question that has in the past been addressed to some extent. I wanted to see if there are any lenders here that can provide their input.

I recently bought a secondary home (2 months ago) in San Diego CA. I put 25% down, and at that time we were thinking to keep this as a vacation home where we plan to retire eventually. It was also financed as a secondary home (I was told that there is no difference in rate in the current environment between a second home or a rental). We’re reconsidering our decision to keep this as a second home and want to make this into a rental so that it does not sit empty most of the year. Based on the rider, this has to be a secondary home for at least 1 year. Can we ask the lender about converting this to a rental? I don’t want to just do it and potentially commit mortgage fraud. 

Alternatively, it seems like we can make this a short-term rental. Is a month-to-month lease considered a short-term rental?

Thank you for your time and help.

DC