I have a rental property that I might move into this spring.
Her lease expires 2/29/2024.
Gives me headache thinking about moving in it, gave my tenant notice last September that I would have to raise the rent significantly if she chose to renew in 2024, she said she wouldn’t be able to afford it.
I’m thinking of offering her a smaller increase in January, I don’t have the energy (job burnout) to find a new tenant and if I move in it the bank says I will have to give up my IORR (investor owned residential real estate loan) and refi at current rates (ironically the bank will be at less risk).
Every year I have to give them a financial statement and copy of lease so I can’t not tell them.
That’s not my question.
Question is I bought an owners title insurance policy for it, will that policy still be in place if I move in it ? or would I have to buy a new one ? Technically it’s not changing ownership, I could check the docs but don’t have the energy right now.