Moved out of 2-Family House Hack

[Ekrem Bermek]

Hi BP - I have house hacked a 2-family in northern NJ, living in one unit and renting out the other unit. I have recently moved out of the unit I was living in and will plan on renting it. I have a conventional, owner-occupied mortgage on the property and have an owner-occupied homeowner's insurance policy. I think it's best practice to notify the insurance company that I have moved out and would like to have a revised policy. Do I need to notify the bank at all? Anything else I need to do or anyone else I need to notify of me moving out of my house hack and the property now being a full investment property?

Thank you!

[Eric Yu]

You don't need to, but I've always given my bank a heads up so there's no surprises. As long as you've been there for a year, you should be good to go!