Renting

If You Are Renting:

• Lease Agreement: Most standard lease agreements strictly prohibit subletting or assigning the lease without the landlord's explicit written consent. Subletting means renting out the property to someone else while you are still the primary tenant. Violating this clause can lead to eviction and legal repercussions.
• Landlord's Consent: Even if your lease doesn't explicitly forbid it, you generally need your landlord's permission to sublet. They have the right to refuse, and they are not obligated to allow it.
• "Getting it Ready": If you plan to make any modifications beyond standard decorating (e.g., painting, installing fixtures), you almost certainly need your landlord's approval.

In summary, if you're renting, it's highly unlikely you can legally move in, prepare the place, and then rent it out without explicit permission from your landlord.

If You Own the Property (e.g., with a Mortgage):

• Mortgage Terms: Some mortgage agreements have clauses related to occupancy. For example, some mortgages for primary residences require you to live in the property for a certain period. Immediately renting it out could potentially violate those terms. Check your mortgage documents or consult with your mortgage lender.
• Local Laws and Regulations: Many cities and towns have ordinances governing rental properties, including licensing, inspections, and safety standards. You'll need to comply with these regulations before you can legally rent out the property. This might include things like ensuring the property meets housing codes, obtaining a rental license, and complying with safety regulations (smoke detectors, carbon monoxide detectors, etc.). A resource to find local ordinances is Municode Library here.
• Homeowners Insurance: Your homeowner's insurance policy is likely designed for an owner-occupied residence. You will need to switch to a landlord or rental property insurance policy, as your current policy may not cover damages or liability if the property is rented out.
• HOA Restrictions: If the property is in a Homeowners Association (HOA), there might be restrictions on renting out the property. Check the HOA's rules and regulations.

In summary, if you own the property, it's more feasible, but you need to consider mortgage terms, local laws, insurance, and HOA rules. You'll likely need to take steps to ensure you're in compliance before renting it out.