The Villages building it's own rentals?

[Talk Host]

I heard a report yesterday that the Villages is planning (or has already begun) to build a slew of short term rental properties. I guess these would be for people who want to come for a month or two, or perhaps their house up north sells too soon and they need a place to stay.

While this makes good business sense for The Villages, it might not good news for those hundreds, if not thousands of private owners who have rentals available. I would guess that 95% of the people looking for rentals, will now go directly to The Villages, rather than looking for private rentals.

Depending on the number of properties that they build, this could also cast a distinctly different atmosphere to the The Villages. It will take on more of a vacation tenor with more pressure on the golf courses, restaurants and events and lots more people who do not have a true stake in the culture of our community. But, I don't know too much more about it. Like everything else, they didn't ask me my opinion.

[Cassie325]

I heard this too. These are apparently (according to the story I heard) the new builds going up at LSL. They are building fast and furious. I thought they were building them for the lifestyle previews....but I have heard differently now. Rentals!

[Donna]

This is definitely going to hurt the private rentals..I guess it was a just a matter of time before they would have their own rentals!

[graciegirl]

I have a delightful pair of new neighbors that I have yet to meet in person but those of you who will go to Crispers tomorrow will meet. (Karen) They have rented a home from an owner who will not retire for a couple of years and this rental is for six months as I recall. I think that is good.(Wonderful for us, because we will have the pleasure of their company!) They sold their house quickly and it gives them time to get their bearings and find just the home they will love. I can see that this renting out of homes by the developer would hurt the villagers that have a rental property or properties, but I don't see any more wear and tear on the golf courses and pools than if people were permanent residents and living in the homes. Perhaps I am missing something.

I am usually an annoying optimist.

[GMONEY]

Believe your talking about Creekside landing. Across from Barnes and Nobles. about 202 homes, all houses will be poured by next week. Big rush job..

[JohnN]

I'm not the least bit surprised. I wouldn't have bought a home based on rentals through TV (or any other), you just never know what'll happen except that your interests and the property management interests aren't necessarily the same.

TV owners who rent can still use other property management firms or rent privately.

[Fourpar]

I have also heard the rumors about rentals going up at LSL. If this many have heard the same, must be at least a grain of truth to the story.

And they sure are putting them up fast!

[Russ_Boston]

From a prospective renters POV I don't think the private rentals will be hurt that much during the winter season. Could it hurt during the 'off' months? Perhaps. But a well priced rental will be considered by a renter based on location and desired features (view, proximity to activities, age and condition of home just to name a few) not based on who owns it. Unless TV completely undercuts their prices then I think private renters will do fine.

I think the bigger danger as TH pointed out is the true stake in the community issue if TV becomes more of a vacation destination which IMHO is very possible. For example: We're coming down next MAY simply as a vacation for 3 weeks. We don't plan on doing much besides playing golf, pickleball and going to the pools to catch up on some rest, we are not going to become part of the community fabric.

I couldn't rent a place in Orlando that had the space, the views, the amenities and the golf that TV has for twice the price. And we're only an hour away from Disney if we want to take a day trip. And only a couple of hours away from the beach if we decide to do that for a day. TV may become a point of destination for future vacationers.

Russ

[graciegirl]

From a prospective renters POV I don't think the private rentals will be hurt that much during the winter season. Could it hurt during the 'off' months? Perhaps. But a well priced rental will be considered by a renter based on location and desired features (view, proximity to activities, age and condition of home just to name a few) not based on who owns it. Unless TV completely undercuts their prices then I think private renters will do fine.

I think the bigger danger as TH pointed out is the true stake in the community issue if TV becomes more of a vacation destination which IMHO is very possible. For example: We're coming down next MAY simply as a vacation for 3 weeks. We don't plan on doing much besides playing golf, pickleball and going to the pools to catch up on some rest, we are not going to become part of the community fabric.

I couldn't rent a place in Orlando that had the space, the views, the amenities and the golf that TV has for twice the price. And we're only an hour away from Disney if we want to take a day trip. And only a couple of hours away from the beach if we decide to do that for a day. TV may become a point of destination for future vacationers.



Russ


This brings up another question. Does anyone know? Can people with children rent ? How long?

And Russ? We, And you know who WE are, will Make you be part of OUR fabric!!! :coolsmiley::icon_wink:

[JohnM]

FWIW...my sales rep says they will be using them for Lifestyle Preview Plan guests, did not know about other rental plans...

John

[SteveZ]

This brings up another question. Does anyone know? Can people with children rent ? How long?

And Russ? We, And you know who WE are, will Make you be part of OUR fabric!!! :coolsmiley::icon_wink:
The property owner is on the hook to insure the covenants are followed by whomever lives in the property.

[Russ_Boston]

I think that is correct Steve. My rental specified that I needed to let him know in detail, age etc. who will visit (if any) during my stay.

[Halle]

:agree::agree:
I think the bigger danger as TH pointed out is the true stake in the community issue if TV becomes more of a vacation destination which IMHO is very possible. For example: We're coming down next MAY simply as a vacation for 3 weeks. We don't plan on doing much besides playing golf, pickleball and going to the pools to catch up on some rest, we are not going to become part of the community fabric.

Russ

I agree with Russ and TH I'm much more concerned with The Villages becoming a Vacation Destination vice The Retirement Community I bought into. It is very important to me to have a home in a neighborhood within a real community.

I hope the new Rentals are just for prospective buyers and not Vacation Rentals. This would definitely change The Villages and I feel not for the better.

[Best Mom]

Halle,
You are so right. Half our street is just rentals. We get new people in and out, in and out. In the beginning I didn't mind but now I would like neighbors who would stay. You meet them, you like them -they go...Even our monthly Rainy Chicks lunch group has a problem with what to do with all the renters. We owners take turns hosting and should we invite the renters or not. They never host. A neighborhood is always better with stable residents who care about the quality of our life in the neighborhood.

[swrinfla]

What I don't understand is: if the Creekside Landing properties are to be rentals, whether "regular" or "Lifestyle Preview," what in the world is going to happen to the established Lakeshore Cottages on the other side of Market Square.

These were originally used for Lifestyle Previews only, so far as I know (I stayed in one in October 2004), and I don't think they've ever been completely full!

Perhaps they'll be offered for sale (at a huge premium, I'm sure)?????

SWR

[iaudit]

I have a question on how these rentals will have access to the amenities. By virtue of the recent lawsuit settlement, the developer is limited to the number of tee times on the executive courses for lifestyle previews. Will the owner of these rentals (the developer) have to pay an amenity fee for each of the villas and houses that he rents so the renters can the use the executive courses, the recreation centers and the pools??? I have heard that the developer is not building anything in that area, not even a pool.

[Cassie325]

I have a question on how these rentals will have access to the amenities. By virtue of the recent lawsuit settlement, the developer is limited to the number of tee times on the executive courses for lifestyle previews. Will the owner of these rentals (the developer) have to pay an amenity fee for each of the villas and houses that he rents so the renters can the use the executive courses, the recreation centers and the pools??? I have heard that the developer is not building anything in that area, not even a pool.


OK....I hate to sound uneducated (not a word from the peanut gallery pls;))
but I am not familiar with this lawsuit....

can you either PM me or start a new thread about this....
__________________________________________________ _______________


Back to the thread....my guess is the realtors working for TV's are given a specific answer to give everyone....when asked....no one really knows but the developer what the homes are for and we will all be told when the time is right....it is a good way to start rumors and talk and buzz about the area....

HOWEVER....I do recall several months ago...there were two positions open with TV's for ppl to work in a rental office.....hhhmmm....isn't that interesting....it was on TV's website....

[ijusluvit]

The Developer has always come up with amazingly good ways to make money. But the villas in Spanish Springs, then the cottages at Sumter were never numerous enough to provide for all the Lifestyles reservations, so they also contracted with many owners in TV to host Lifestyles folks. This has been inefficient because custodians had to travel around to care for these properties and it was often clumsy for guests to connect with residents or the rest of TV in the scattered neighborhoods. Better to put all those new folks together near a town square and they'll share each other's enthusiasm. And, the newest places are the most impressive. How many sales came from being boggled by the villas or cottages? So of course there's Creekside! Lots of boomers out there and you can hook them in even though the economy's down by being as spectacular as possible. If Creekside is spectacular it's probably good for all of us down the road. And private renters? We've always been on our own. Expect nothing. Realize that rents are generally so low that TV is one of the best vacation bargains anywhere. That will help provide us with customers for the next few years.

But there's something to watch and on which we can actually have some control. "The Settlement" which was designed to get more control and equalization of amenity fees across TV, also set limitations on the Developer's ability to reserve tee times for his guests. Seems to me the limits are pretty low, and thus reasonable for the residents trying to compete with the hotel and Lifestyle guests. Anybody watching that?

[Donna]

We should have a slogan ..."You Heard it First on TOTV":024:

It's amazing how much I find out in a days time...

[Cassie325]

The Developer has always come up with amazingly good ways to make money. But the villas in Spanish Springs, then the cottages at Sumter were never numerous enough to provide for all the Lifestyles reservations, so they also contracted with many owners in TV to host Lifestyles folks. This has been inefficient because custodians had to travel around to care for these properties and it was often clumsy for guests to connect with residents or the rest of TV in the scattered neighborhoods. Better to put all those new folks together near a town square and they'll share each other's enthusiasm. And, the newest places are the most impressive. How many sales came from being boggled by the villas or cottages? So of course there's Creekside! Lots of boomers out there and you can hook them in even though the economy's down by being as spectacular as possible. If Creekside is spectacular it's probably good for all of us down the road. And private renters? We've always been on our own. Expect nothing. Realize that rents are generally so low that TV is one of the best vacation bargains anywhere. That will help provide us with customers for the next few years.

But there's something to watch and on which we can actually have some control. "The Settlement" which was designed to get more control and equalization of amenity fees across TV, also set limitations on the Developer's ability to reserve tee times for his guests. Seems to me the limits are pretty low, and thus reasonable for the residents trying to compete with the hotel and Lifestyle guests. Anybody watching that?


WOW...you seem to have a great bit of info....are you coming to the lunch....I would love to talk....rather just listen.....I love your attitude and positive outlook!!! Again...still need info on the settlement...but you are great...are you and 07 friends....if not...you should be!!! To be a fly on the wall for those conversations!!!

[Cassie325]

We should have a slogan ..."You Heard it First on TOTV":024:

It's amazing how much I find out in a days time...

More than we ever thought we would want...but it is the best....people that are not on here wonder where on earth I have this info...true or not....ofcourse I tell them....TOTV!!! where else would anyone want to go!!!

[iaudit]

Here is a summary of the lawsuit settlement, taken from the POA website:

http://www.poa4us.org/bulletins_files/bulletin200807.html#article%205

Summary of the Recent Lawsuit Settlement.

Here is a summary of the main points of the recent lawsuit settlement with the developer covering the area of The Villages north of highway 466 in the VCCDD administration area:

1. The total value of the lawsuit settlement amounts to $50,423,544, paid as follows: $39,823,544 in cash is to be paid by the developer into the amenity fund of the VCCDD and an additional $7,000,000 in cash paid by the Developer was ordered by the Court for legal fees and expenses. Further, an additional $3,600,000 was identified in annual VCCDD budgets as money which should have been placed in the Renewal and Replacement Reserve account, and this was officially moved to the R & R account, thus insuring that these funds will also be under the direct control of the soon-to-be-elected Amenity Authority Committee (AAC) described below.

2. The Developer has already made an immediate payment of $11,803,168. It was agreed that $2,812,295 would be used immediately to pay off the remaining debt on the Paradise Recreation Center renovation project. The remaining $8,990,873 was negotiated to provide $4,243,600 for renovation of the 8 miles of recreation trails north of CR 466 and $4,757,273 for the Renewal and Replacement Reserve fund. The actual decision on how to spend this remaining $8,990,873 will be determined by the AAC.

3. Over the next 13 years, the Developer will pay a total of $28,020,376 into the amenity fund of the VCCDD with the first payment in the amount of $1,748,659 in December of 2008. The largest annual amount is in 2018 in the amount of $3,104,103 and the smallest is $166,695 which will occur in 2020, the last year of the payments. This additional funding was required until the year 2020, at which time the reduction in bond debt, due to scheduled amortized pay-off of some of the earlier bonds, is calculated to be sufficiently reduced for regular amenity fees to provide adequate funds.

These funds were secured to assure monies for the services that had been reduced (pool monitors, decrease in Neighborhood Watch services, recreation facility monitors, etc.) and to pay expenses that were not budgeted at the time of the revenue bond issues (Renewal and Replacement Reserves, recreation trail and tunnel maintenance and reserves, retention pond maintenance and repair, and additional funds for unforeseen circumstances such as substantial increases in the minimum wage).

4. The settlement also includes the creation (which occurred last month) by Interlocal Agreement of an Amenity Authority Committee (AAC), whose members will be one resident, elected by residents, in land owner elections, in CDDs 1, 2, 3, 4 and the Lake County portion of The Villages. One member of the VCCDD Board of Supervisors will also serve on the six-member Committee. The AAC will have: (a) discretion over expenditures of all non-bond required amenity funds and the rate setting of amenity facility user fees; (b) operational control over the amenity facilities and services; (c) approval or disapproval over future debt secured by amenity fees or facilities, sale, assignment or trade of amenity facilities, and future areas to be brought within the VCCDD Service Territory (excepting no more than 300 additional dwelling units without AAC approval); and (d) authority to establish a maximum amenity fee for the VCCDD Service Territory.

5. An agreement that the number of executive golf tee-times reserved for sales purposes for prospective residents shall not exceed a monthly maximum of 325 of the approximately 25,000 tee-times available on the VCCDD-operated executive courses.

[tankdvr1950]

when my wife and I were there for our 2nd lifestyle visit 3 weeks ago....our sales rep that we went out with said that the new construction near LSL is for sure homes being built to be used as rentals.

[Indy-Guy]

I had been told that these new rentals will be used primarly for lifestyle previews. Only The Villages knows how many they will need for lifestyle previews but I am sure they know how many to build to meet that demand.

I also was told that the reason for building this area is to keep the lifestyle preview folks away from the regular population. It seems that they have had a problem with lifestyle preview folks asking neighbors how they liked The Villages and some were negative. Of course the people who were negative wouldn't leave if you offered them a fair price for their home. This is The Villages way of controling the lifestyle preview folks and keeping them away from the neighborhood negative folks. Just think about it.

[Cassie325]

when my wife and I were there for our 2nd lifestyle visit 3 weeks ago....our sales rep that we went out with said that the new construction near LSL is for sure homes being built to be used as rentals.

I have a VERY close friend...who was playing golf at Palmer with my Dad on Monday with TWO POTV realtors....they both stated that the information was correct...these were going to be RENTALS.....not Life style previews unless they had one open for overflow....but other than that...rentals!!!

So....we have several different reports from several different people that work for and with TV's......yikes....

[Cassie325]

I had been told that these new rentals will be used primarly for lifestyle previews. Only The Villages knows how many they will need for lifestyle previews but I am sure they know how many to build to meet that demand.

I also was told that the reason for building this area is to keep the lifestyle preview folks away from the regular population. It seems that they have had a problem with lifestyle preview folks asking neighbors how they liked The Villages and some were negative. Of course the people who were negative wouldn't leave if you offered them a fair price for their home. This is The Villages way of controling the lifestyle preview folks and keeping them away from the neighborhood negative folks. Just think about it.

INDY GUY.....they are not going to have their own golf courses to try....or pools to swim in....or squares to dance in....they will talk eventually to REAL Villagers....some are happy...some are not....they can't keep them from the real ppl!!!

Just my opinion.....

[Indy-Guy]

INDY GUY.....they are not going to have their own golf courses to try....or pools to swim in....or squares to dance in....they will talk eventually to REAL Villagers....some are happy...some are not....they can't keep them from the real ppl!!!

Just my opinion.....

Any idiot could figure that out!!!!!!!!!!!!!!!!!!!!!!!!!!

[Cassie325]

I had been told that these new rentals will be used primarly for lifestyle previews. Only The Villages knows how many they will need for lifestyle previews but I am sure they know how many to build to meet that demand.

I also was told that the reason for building this area is to keep the lifestyle preview folks away from the regular population. It seems that they have had a problem with lifestyle preview folks asking neighbors how they liked The Villages and some were negative. Of course the people who were negative wouldn't leave if you offered them a fair price for their home. This is The Villages way of controling the lifestyle preview folks and keeping them away from the neighborhood negative folks. Just think about it.



I was just responding to what you wrote....I just couldn't imagine keeping them away from the "regular" population...didn't see how that was possible...name calling is not needed.

[Hawkwind]

This is very interesting as I will be coming to TV for 4 weeks in December. I have made my reservations through Hometown Property Management and it is in a Patio Villa. I asked for the location and the rep did not know and said that the exact location would not be known until shortly before I arrive. Will it be in this new area? Are patio villas being constructed in this area? And will the construction be completed by Dec 1?

I was hoping I could at least find out the aprox. location or village I might be in so that I can study some maps to try and get to know my war around. On my day trip last December I was totally lost while getting around. I tried to base things on LSL but a one day visit is way to short of time to get use to the lay of the land.

[Talk Host]

It is not likely that these properties will be completed by December 1st. They have just completed, or are completing, site preparation. They have not yet laid a block.

JLK

[Cassie325]

It is not likely that these properties will be completed by December 1st. They have just completed, or are completing, site preparation. They have not yet laid a block.

JLK

You may want to jump on the bike or golf cart....take a look.....there are some homes that look almost done...we were taking a peek last night...WOW...you would be amazed....I think it is the fastest village built to date.....they were still working at 6pm on a Friday night....go check it out! :faint:

[villages07]

Jan,

haha...you must not have ridden by there lately...in just the past 8 days, there are now probably 50 homes framed out or under roof...an amazing pace of construction.

But, I do agree that December 1 will not be ready date. In an earlier thread someone mentioned that the target was Jan 1 and that they were all already rented out for Jan. At the pace they are going, that is feasible. This development will have its own pool and postal station.

Hawk...it is common practice for TV Prop Mgmt not to know exactly which home (or even which model) you will be in until just before your arrival. When we wanted to rent for the month of July and had a specific designer model in mind...they couldn't guarantee the model...so, we found a private rental and it worked out great. YOu will not be in this brand new area but will probably be south of 466...it seems that is where their rentals are concentrated.

[Cassie325]

That is great about the pool and postal station for long term renters!!!

07...how on earth do you get all this great information?? You are FAB! :highfive:

[hiltonbm]

Howdy...
As a new Snowflake, what & where is 'LSL'...? Our place is in Hemingway which is a new area waaaay south. We'll be there in three weeks... :)

[Russ_Boston]

LSL is Lake Sumter Landing (aka Market Square). This is the local 'downtown' square for the folks south of 466. It is about 2+ miles north up Morse Blvd. from your location.

[bobfl]

LSL stands for Lake Sumter Landing. Where are you going in Hemingway? We are moving into Hemingway on the 24th of this month.

Bob

[graciegirl]

Howdy...
As a new Snowflake, what & where is 'LSL'...? Our place is in Hemingway which is a new area waaaay south. We'll be there in three weeks... :)

:welcome:Hiltonbm, We live south too in Hadley. Will you be renting or did you buy? Nothing is far from anything else. You have been here? Hope you enjoy yourself thoroughly. GracieGirl and family.

[fraurauch]

I went by there today. Some of the houses have windows, siding and roof shingles. I'm not sure some of them won't be ready.

[captain1202]

From a "reliable Villages source": They will be ready for occupancy Dec 1 and all that entails.

I'd love to take a camera there every day at the same hour and watch the time lapse film at the end. I thought Extreme Home Makeover was good but these guys are just AMAZING! :super: :coolsmiley:

For anyone that hasn't watched this closely it's worth the ride there every day to see the progress.

[Cassie325]

From a "reliable Villages source": They will be ready for occupancy Dec 1 and all that entails.

I'd love to take a camera there every day at the same hour and watch the time lapse film at the end. I thought Extreme Home Makeover was good but these guys are just AMAZING!

For anyone that hasn't watched this closely it's worth the ride there every day to see the progress.


:agree::agree:

It really is amazing....went there on Friday night and saw progress...the took a quick ride last night as it was so gorgeous...and OMG...what did we find? the mailbox station...up already!! Can you believe it!:faint:

They don't even compare to EHM...the way these people work is amazing....I think they are working 7 days a week...from 7a-7p. My favorite part so far are the outside walls...the stone work is beautiful! :a040:

[Indy-Guy]

Check out this part of The Villages website that covers the Life Style Preview program and accomodations at Creekside Cabanas. Starting at $150.00 a night with perks.

http://www.thevillages.com/comevisit/lpp.asp

If it dosen't take you to the correct place click on the Come Visit site.

[swrinfla]

Interesting. I might quibble about the use of the word "cabanas" as that suggests a small cabin (by the beach, usually) to me, and they're building Courtyard Villas and Designer homes. And, I'd quibble about "right in ... Market Square," too, but they're free to fudge a little! I note that the $150 rate is effective 02/01/09.

It'll be interesting to see just how much business arrives, given today's tanking economy!

SWR

[mdfrog]

We were there Oct 2 - Oct 8. Is this the area were they used to have the buffalo?

[Indy-Guy]

We were there Oct 2 - Oct 8. Is this the area were they used to have the buffalo?

Yes!!!!!!

[Mintjulep]

We have just contracted to have a summer kitchen built and the guy who will do it says he can't start until after Creekside Landing is completed as he is now working on that project.
He said there is over 3000 workman there and everything will be completed by the beginning of Dec.
Then he will start our project...

[geobar]

We were in TV for 7 days (10/17-10/24). We stayed in the lifestyle program in a privately owned home (Austin) in Hemingway and in the rental program.

I know that most of the units in Spanish Springs are either sold or for sale. They were used for lifestyle program as we stayed there in 2006.
Now these new units are being built are most likely to replace the SS homes sold.

I dont know how many people are there at any given time on the lifestyle program but I was while dining to notice how many people did use the lifestyle payment procedure in the offered (village owned) resturants.

Really was also amazed what was built in that time. My salesperson told us that the 206 homes were being built for lifestyle program. Now the walls are up to hide the view inside.

It was also nice to meet a few of you at Crispers on 10/17.


Geo & Bar (geobar)

[Cassie325]

Atleast it is a nice looking wall....not as nice as the GREEN pasture...but it looks good....

I would surely think they will be ready by Dec 1st or so....


AMAZING how fast they are working!!!