All Forum Posts by: Erika M.

Thanks all for great advice!

Hello

I am screening a very promising tenant - but I have hit a wall:

The previous landlord they listed, where they lived for seven years from 2008-2015, is a very large property management company which no longer manages that building. The individual they listed as the person to contact, also no longer works for the company. I was able to verify from the company that the building changed hands right around the time my potential tenants moved out.

A more recent landlord has already told me they were stellar, reliable, etc in the 2-3 years they have been leasing.

Should I be concerned about the previous landlord? 

Is there some obvious way to get this part of the reference checked that I am not aware of?

Thanks for ideas

Thank you all for replies!

Thank you so much for replying about the (unnecessary) refinance!

I was under the impression that FHA loans have different requirements. But sounds like you are both saying I just have to change insurance status from primary residence to rental - does that sound correct?

Hello

I have an FHA mortgage on my primary residence. I have owned and occupied this single-family home for 2.5 years, and mortgage payments are current etc.

I am relocating soon  (but not purchasing a new property) and I want to rent out my home. Tenants will be required to get renters insurance.

What are my obligations to my lender and insurance co ?

Am I required to refinance?

Should I expect my insurance rates to go up considerably?

Even if not required to refinance, should I consider it, to save $ ? (I purchased at a pretty good rate 3.8)

Thank you for any leads or answers!