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Originally Posted by LABSX2
We will be coming for our Life Style Visit in September. Having been looking at a lot of homes for sale, new and pre-owned. We will not be able to move permanently for a couple more years so IF we find a home that we fall in love with the only other option would be to rent it until we are ready. I would like to know your thoughts on renting your future home to complete strangers. I would like to know the good experiences and as well as the NOT so good experiences.
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Having rented our home when we are not here for 7 years, I find guests in TV to be particularly considerate and responsible. I don't think that's a surprise for a community of mature adults. I think the biggest ingredient in successful renting is the property manager. Being far away for months of the year I simply cannot manage it myself or through a home watch system alone. After three other managers, including The Villages Property Mgt., I now have the best manager in the whole wide world. Her name is Vilas Hinkle and she takes care of every detail. It is so good to know everything is regularly inspected and cleaned. We have a great arrangement for advertising and I have no trouble renting whenever we are not there. Part of that though is because we have a pool, which attracts summer rentals. In the end, I am able to cover all of the costs of maintaining my home (except the mortgage). If you plan to be at your new home less than 29 days per year, you are also able to take tax deductions for many of the expenses of the rental property.
There isn't a downside, because of my manager. In fact, because of the rental income, and because I like to do things myself, we have added thousands of dollars of extras to our home when we are there. That is very rewarding and actually fun. Just send a PM if you want more info. Good luck!!