[fraurauch]

We bought a courtyard villa in '04 and rented it thru The Villages. They charged 18% on your income, plus if you wanted to use it yourself, you had to pay them the 18%. Right before we took it off the rental market, we received a letter from them stating that they were going to charge us $50.00 per month for every month they were unable to rent it.

That being said, they took very good care of it. Each property was assigned a caretaker and we heard from him quite a bit. They have a rather extensive list of things you must have in your property; i.e., emergency lighting, large fire extinguishers, x number of batteries of different sizes, x number of light bulbs, etc., etc., etc.

We understand they have dropped a lot of their rental properties. I guess they just want to sell real estate.

It was profitable for us for that year with the income tax deductions, etc.