Quote:
Originally Posted by OrangeBlossomBaby
So - presently, there's nothing stopping some incredibly wealthy person, or developer, from buying an entire block of a neighborhood's homes. And then, renting them out for a 3-day minimum, 10-day maximum, and calling it a resort area within the community. You could easily have transients take over the entire neighborhood, and there'd be nothing you could do about it, because - there's no rule saying someone can't, and there are rules saying that they can.
Because of the advent of internet-based rentals, which didn't exist when The Villages was first created, I think new zoning laws need to be implemented to preserve the integrity of a neighborhood's function. And that is - to be strictly a residential community, and not a short term rental resort community.
New deed restrictions on new construction could be implemented to restrict short-term rentals to a 10-day MINIMUM stay, with leases required, no sub-leases allowed, and the property must be overseen by a property management company when the owners aren't occupying the property.
These new restrictions could even be made to new ownership, rather than new construction. If you buy a home starting next Thursday, these rules apply to you. Whether it's a new home or pre-owned home. People think that deed restrictions can't be changed. They can. It's very difficult and involves a lot of paperwork and hoop-jumping, but they can absolutely be changed. It's also more likely to be changeable when it's imposed only on new construction, or new ownership, because current homeowners are less likely to object to what new owners must/must not do after the current owners have relinquished their property to someone else.
|
It seems you have described a Lifestyle Visit. It will be interesting to see what the Developer does once this bill has passed. The lifestyle visits are no longer in neighborhood CYVs with its own pool. They are now in patio villas. Perhaps, the Developer got a whiff of the new state laws.
In my prior neighborhood, STRs were not planned. They were born out of necessity and greed.
1. The original owner passed and the child wishes to keep the home but is not ready to retire. Brilliant! I'll rent it out until I am ready to occupy it.
2. One of the owners has a serious medical condition and the bills are getting out of hand. Solution? Rent our property for added income.
3. Seasonal residents cannot find a responsible person to look after their homes while they are away. Why pay someone to take our money and not do as promised? Rent the home while we are away and those occupants can take care of the home. What a great idea! Someone PAYS US and does the job. Win, win!
4. Someone near retirement purchases a home to safeguard themselves from soaring home prices. They now own two homes and see no problem with renting until they are comfortable. They could care less if this makes their future neighbors uncomfortable. It's all about me!
There are more scenarios, but you get the picture.
We did have one man who owned several investment properties. He was the worst! With him, everything was about money.