Rental income
Definition
Rent generated by a property. The lender does not always count gross rent: it may count only part of it (often after a reduction for vacancy and expenses), or require leases and a track record. Treatment differs depending on whether the unit is in the building you live in or in an investment property. Prepare current leases, statements of rent received, and actual expenses before applying.
For your plans
Distinguish projected rent, signed rent, and the income accepted by the lender. Add vacancy, maintenance, taxes, and unrecovered expenses to the prudent scenario.