What you are referring to is very common. House is bought with low down loan, then made into a rental. While consulting an attorney and informing your mortgage holder could be good avenues, imho the vast majority of owners in this situation just rent the house and that's that. I would though caution you that it is in your best interests to get a good property management firm. Renting a new house, from afar, can be a recipe for disaster. Rough tenants or someone that moves in and then decides not to pay the rent could be terrible. Also, you probably are entitled to a punch list on construction items. So you need a tenant that will work with you on this. Finally, this house is BRAND new. 99% of rentals are not. So, you should be able to secure a two to five year lease with significant deposit. This house will only be brand new once and the fortunate renter will be one that is going to get to live in their own private brand new house - that is special.