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Updated over 2 years ago,

User Stats

8
Posts
3
Votes
Ekrem Bermek
  • Rental Property Investor
  • Boonton, NJ
3
Votes |
8
Posts

Moved out of 2-Family House Hack

Ekrem Bermek
  • Rental Property Investor
  • Boonton, NJ
Posted

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!

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