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Becoming a landlord

Note: Complete this section only if you are studying to become a landlord (purchasing a 2- to 4-unit home for rental).

From Fannie Mae®'s Becoming a Landlord Guide:

You have applied for a mortgage loan to finance the purchase of a home that can house several families. When you… start renting units in it to others, you'll be taking on the role of "landlord." You will be a special type of real estate professional, entitled not only to collecting rent, but also to enjoying certain tax advantages and selecting some of the people who'll live side by side with you.

You have a lot to look forward to – many rewards – but also lots of responsibilities… The guide's purpose is to help you understand the risks and responsibilities involved in the business of being a landlord, and to share some proven ways of handling them successfully.

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