Do Lenders allow you to use your rental home as a Airbnb property?

Lenders typically have specific guidelines and restrictions regarding the use of rental properties, including whether they can be listed on platforms like Airbnb. These guidelines can vary depending on the lender and the specific loan program.

In some cases, lenders may allow borrowers to use their rental homes as Airbnb properties. However, there are a few important factors to consider:

Loan Type: The type of loan you have can impact the lender's restrictions. For example, conventional loans, which are not backed by a government agency, often have more flexible guidelines compared to loans backed by the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA).
Occupancy Restrictions: Lenders may have occupancy requirements for rental properties. Some lenders require a minimum lease term, typically six to 12 months, before allowing short-term rentals like Airbnb. Others may require a certain percentage of the property to be owner-occupied, meaning you would need to live in the property for a portion of the year.
Insurance and Permits: Lenders may require specific insurance coverage, such as commercial liability insurance, for properties used as short-term rentals. Additionally, local regulations and permits for short-term rentals may need to be in place, and lenders may request proof of compliance.

It's essential to communicate with your lender and discuss your intentions to use the rental property for Airbnb or other short-term rental purposes. They can provide you with accurate information about their specific policies and any additional requirements you need to meet.

Remember that policies can change over time, so it's always a good idea to consult with your lender or a mortgage professional for the most up-to-date information regarding using your rental property as an Airbnb.

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.