Talk of The Villages Florida - View Single Post - Rentals not allowed in newer areas?
Thread: Rentals not allowed in newer areas?
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Old 03-12-2022, 07:57 AM
Proveone Proveone is offline
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Quote:
Originally Posted by Laker14 View Post
On another thread a poster mentioned that when he/she bought a new property from the developer in one of the newer sections, they had to sign a contract that explained that the property could not be rented out.

I didn't want to hijack that thread with questions, so here goes.

1. Is that accurate?

2. When did they start that practice?

3. What would the developer's likely motivations be for such a covenant? Wouldn't it make the market for their homes more desirable if folks wanting to buy as an investment were also able to buy the new homes?

I'm not understanding this at all.
Hard to believe. It was probably the issue of not reselling a new house within the first year. Back in 2005, speculators were buying several homes, then turning around and reselling to make a profit.