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Relocate to a new home and rent a former home for income
Relocate to a new home and rent a former home for income

This article describes relocating to a new home with the intent to rent your old primary residence.

Nancy Gates avatar
Written by Nancy Gates
Updated over 2 months ago

You have the ability to model purchasing a new primary residence and renting your old home for income in My Plan. We recommend the following steps:

1. My Plan > Home and Real Estate > Primary Residence: Select Rent. Enter zero dollars for the estimated rent because you are living in another property. Make sure to include your current zip code.

2. My Plan > Home and Real Estate Select Future change to primary residence and add the relocation to the new home. Make sure to include the zip code of your new home.

3. My Plan > Home and Real Estate Model your current home as Other owned real estate.

4. My Plan > Income > Passive Income Add a passive income stream for the rent you hope to receive.

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