[redwitch]

Originally Posted by mgm4444

These are some of the questions I keep mulling over as far as renting.....

Is it a near-guarantee that you will get a renter Jan-Mar?

Nothing is a near-guarantee but if your home is in a decent location and in good condition, the odds are you won't have any problems renting for the high season.

If so, would you think the rental income pay your household bills (minus mortgage and landscaping) for the year?

Don't know the facts on this one, but I think you can cover your expenses for the year (less mortgage).

How would I be taxed on rental income?

Talk to your accountant. Also, if you rent for less than 6 months to one individual, you will need to pay a hotel tax to the county in which your home is.

Does it pay to have cable all year, if you're not there most of the year? What does basic cable cost?

Comcast has a vacation plan where you can have cable turned on when the house is occupied and off when empty. I imagine if you got one of their package plans, it would turn off cable, internet and phone.

Does it pay to have a landline? I use my cell as my primary phone. Haven't had a landline in years.

You don't have to have one but renters do appreciate you having one. You can always use MagicJack, Ooma or Vonage.

If you're not there full time, can your bills get forwarded to your primary residence?

Yes

I know there a couple of "home-watchers" on this site - do they do that months at a time for people? - what is the average price? what do they take care of or look out for?

Some homewatchers will only watch for minimum periods. Some on a month-to-month. Prices range from $30-50 a month when unoccupied. Some charge a percentage of rent to watch when occupied by renters. Talk to a few, go with the one you're most comfortable with.

They make sure that things are working properly in your home and there are no leaks. They check the water, garbage disposal, dishwasher, furnace filters, your golf cart, your lawn and sprinklers and so on. Basically, they make sure things are working for you and make sure things are repaired as needed.

A little nervous being a "landlord"...is it more like a part-time job?

You can hire a property manager and you will do little to no work. You can do it all yourself and end up doing a lot of work, especially if a renter has a problem and you try to fix it from your home. You can go the middle route and take care of finding the renters and have someone else take care of your home and the renters. Seasonal renting in The Villages is a lot different from renting a home under normal circumstances. Your renters are less likely to cause damage, they're cleaner, they pay their rent. They also expect a bit more -- good towels, decent pots and pans (even if they never use the kitchen), at least middle-of-the-road appliances, etc.

You will need to have internet. A wireless router is a nice feature to have, but not necessary. If you have a golf cart, your place will rent out easier. However, the insurance issues going on right now make it problematic. Bicycles and a bbq are nice. Renters really like having them. If you'll allow pets (not really advisable, tho), you'll get a lot more renters, especially during the off season.