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As a roommate situation? Yes, people do it all the time.

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โˆ™ 2005-09-16 16:41:04
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Q: Can you rent a home if it is owner occupied?
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What is an owner-occupied home?

Owner-occupied HomeAn owner-occupied home is one in which the owners are living.


What does owner occupied home mean?

An owner occupied home is a home that is lived in by the person who owns it, rather than by someone who is renting from the person who owns it.


Does the owner of the rent to own home have to pay taxes on the rent they received?

In general, yes, the owner of a rental property will pay income tax on the rent received.


Do you have to pay taxes on free rent?

not if you are renting free from the home owner the home owner has to pay taxes


Is owner occupied the same as primary residence?

No. Owner occupied means the owner of the property lives in it, meaning it is not rented. Primary residence means the home where you live most of the time. It can be rented or owned.


I wnt to rent a home, what questions should I ask the owner?

If you want to rent a home, you need to know how much the rent is, the regulations the house has, and have an inspection on the house.


What is meant by the phrase for rent by owner?

A rent by owner means that the owner of the building or home is renting out the property as opposed to a rental agency or rental broker. Typically rent by owner properties are smaller yet offer better communication and resolutions for the renter.


How much of the occupied housing stock in Canada is owner-occupied?

60% of the occupied housing stock in Canada is owner-occupied.


What steps are required to list a home for rent by owner?

Steps required to list a home for rent are owning the home before putting it up for rent. Advertising your house, than setting up interviews with people to show it off.


What is concidered 'Owner Occupied' Commercial Property?

Commercial property occupied all or in part by the fee owner.


Can the executor charge rent to a person that was living in the home before the death of the owner?

Yes.


How many owner-occupied homes are there in America?

According to the US Census Bureau, about 68% of residences are owner occupied.


Do you have to pay your rent to owner who is inforeclosure?

Until the foreclosure sale takes place, the rent is owed to the owner on the rent day.


What are the benefits of a rent to own house?

Rent to own homes allows you to become a home owner with less money down. Depending on the terms it may even give you a rent credit that goes towards the actual purchase of the home.


Can you rent a house and still paint walls?

Ask the owner of the home. It all depends on who your renting it from.


Can you deduct homeowner's insurance on a rental property?

First, a homeowners policy is not what you need for rental property. A homeowners policy is only for a house that is owner occupied. For a house that you rent to others you need to purchase a tenant occupied dwelling fire policy. You must have the proper policy for the situation that you have. The coverage under a homeowners policy ceases when the owner has not lived in the home for 90 days. You need a good insurance agent to advise you and help you purchase the proper policy for your needs. To answer the question, you can deduct the premiums paid for a dwelling fire policy that you rent to someone else.


How much of the occupied housing stock in Canada is owner-ship?

Around 60% of the occupied housing stock in Canada is owner-ship.


When buying a home can you sell the home to another person without letting the owner know?

You would not be able to sell the home without the owner knowing, but unless your mortagage includes a clause forbidding it, you could rent the home to another party.


The home I am renting was recently sold through foreclosure. Do I still pay rent to my landlord?

Definitely not. The previous owner is no longer your landlord, and not entitled to any rent.


Can a park owner force you to leave even tho you own your home?

Yes. In a trailer park you are paying rent for the space for your trailer home.


Who is responable for the upkeep on a home when it is a rent to own home?

Once the rent to own contract is in force then you are responsible for all home maintenance, unless other arrangements were spelled out in the contract. When you enter a rent to own agreement you will need to have cash reserves similar to a new home owner to cover unexpected expenses. Mortgage firms and banks are responsible for the upkeep on a home when it is a rent to own home. You can read more about it at www.mortgageloanplace.com


How does renting differ from owning your home?

When you rent a home you don't own it. Any tax deduction for interest paid or for improving the house goes to the owner not a renter. Yet, when you rent you don't have a loan for owning the house.


How much occupied housing stock in Canada is owner-occupied?

Type your answer here... 1000


Can life estate home be rented if the parent is in a nursing home and will never return to the home?

Yes. However, the income from the rent may disqualify the owner from Medicaid qualification.


What happens if your mobile home is voluntarily repossessed and it is in a mobile home park?

The bank or current lien holder will take possession of the mobile home after the required steps of repossession takes place. The bank or current lien holder of the mobile home is responsible for paying the lot rent unless the mobile home is sold to a secondary party such as an investor. At this point, the lot rent follows the ownership of the mobile home. In most cases, the larger banks who specialize in mobile home financing will pay atleast a portion of the lot rent. It is very important to contact the park owner to verify the amount of park rent that is due. This is very negotiable especially if the new owner of the mobile home plans on leaving the mobile home in the park. Note: The park owner is a great prospect to sell this mobile home to.

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