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Originally Posted by rekop
Just a quick note - it is quite costly to be in The Villages rental program. They take a considerable amount of your profits. If you do decide to go the rental route, if you have the inclination, you may wish to do it yourselves. We placed ads in the Daily Sun, as well as online, and screened potential rentors with a list of questions. We didn't allow pets or smoking and we got a security deposit, and had them sign an extensive lease with a lot of do's and don'ts in it. We had a cleaning lady come in who kept us aprised if there was any damage in that we would need to keep part of the security deposit (we never had to do that). You're generally renting to retired couples and they tend to be good tenants.
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I was in TV Property Management for 3 years, and I believe the extra money I paid was worth every penny, and the term "quite expensive" reflects an opinion, and one I disagree with. Like you suggested, some are not inclined to do-it-yourself.
Not unlike using a contractor to build an addition on your house rather than doing it yourself, TV Property Management took care of all of the rental related work; they screened, scheduled, handled payments including security, and rented an average of 120 days a year. They booked January, February and March, and got another month thru weekly or multi-day Lifestyle Visits.
They assigned a caretaker who we spoke to regularly, and who did an outstanding job.
They provided monthly and annual statements, and included most of the rental expenses on these statements for tax purposes.
I thought they did a great job and it was worth it.
Like everything else in TV, it costs a little more but there is some perceived value that makes it worth it.
All the people who buy homes in TV could have bought elsewhere for less. Just pick up a Homes&Land Magazine and see the local outside TV prices to understand the difference.
Despite all the negativity about the builder and their programs, I think it's a class act. They do a good job with most everything they touch.
I'd advise anyone thinking of renting to speak with TV property management to understand their take on the current rental market. They will discuss how many days you can expect to get income, and what the terms of their contracts are. They did require you to make the house available during the high season (Jan, Feb & Mar). I'd seriously doubt there is a large rental opportunity in the off season, and if I recall correctly, if you spend 3 months in the house you will be unable to take advantage of the tax breaks that come with having a rental property (I think there is a limit to your staying in the property of 2 weeks per year)