Quote:
Originally Posted by ryoungs
I have done a search of forums but can't find any posts where someone has tried the scheme I am considering. This suggests to me it is probably a stupid idea, but I would be interested in advice.
I am considering buying a three bedroom home in the Villages (none picked out yet) and, as a snowbird, renting it out long term. When my wife and I, or family members, decide to use the house for, say, 3 winter months, the renter would have the use of only one of the three bedrooms plus common areas, but at a greatly reduced rent (similar to an airbnb but at much less cost for the renter). At all other times the renter would have the entire home to use as he (she/they) sees fit, but at closer to normal rental prices (which, again, would be less than it might cost them otherwise)
I do realize it would have to be a perfect fit between the renter(s) and myself, but it sounds like a win-win for us both. It would be an ideal situation if I had a relative or a good friend who wanted to do it.
Comments?
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Can I ask why you wish to do this? You say you only plan to be snowbirds so, are you trying to cover the cost of the home by renting? If so, you seem to be suggesting discounting might get you folks interested in sharing but (as others have said) sharing isn’t a great situation for most (even family can be hard to mix 24/7 for that long). It’s hard to share a kitchen, refrigerator and even the main television (which man would get to hold the clicker?).
I might suggest you just make it a regular short term rental. It should pay for itself but you may not be able to use it all 3 snowbird months as those are the highest rent months.
We purchased and rented before we retired and came when we could (around the renters). The house was set up for renters though, full use, empty closets, cleaned between renters, etc.