How many cancellations?

[another Linda]

For those of us who can't even spend enough time in TV to qualify as snowbirds and rent our places ...

How many are experiencing cancellations due to the economy? All our people from last year are still coming back, but I wonder ... what with the economy and the new places TV is building, we may be forced to quit our jobs and spend more time in TV next year. Have you had a cancellation? Have you been able to rent again?

[jeffy]

In the last several months we have had people contact us and then ask us to send out rental agreements. They then called back within a week and advised they were reevaluating due to the stock market downturn.

I dont think the economy is helping us landlords.

[faithfulfrank]

Well, I have not really had any cancellations, but I also rent my Plantation home out whenever I can until we move there for good in 2 years or so. I figure I can ALWAYS count on renting it for Jan, Feb, March, and any extra months are like icing on the cake. In The Plantation we are supposed to rent a minimum of a month at a time.

My current renters are there for 5 months, and expressed an interest in taking our home next year for 6 months. They recently told me they probably would not now due to the current stock market situation. That would have been great but I'm confident that my home will still be rented next season. It is usually rented about 4-6 months a year........I usually turn away over 100 couples a season.

Frank D.

[another Linda]

It will be "interesting" to see what next year brings. I'm very glad we didn't count on renting. We plan to spend March in TV every year until we retire and figured if we could rent January and February it would be a bonus. Guess we'll see.

[faithfulfrank]

We usually spend about two months a year down there. I'm still working, but get a good amount of time off. This last year, and this next year we plan on being down there the month of May....(it is rented until then) to inspect the home and return the security deposit, and again probable the month of October to get it ready for the next winter rental season.

It has been a great tax write-off and gives us the ability to improve the home while it is still considered rental property. It has really helped us not having a rental manager.....we now use **** and have been very happy.

Frank D.

[Cassie325]

Just out of curiosity Frank....do you get a fair amount of interest in your home in plantation from folks that may have been looking at renting in TV's?

[faithfulfrank]

Cassie,

I really do not know. None so far has ever mentioned The Villages at all. Some seem to "winter" someplace different in Florida each year. Some have rented in The Plantation in the past, but needed to find a new place due to the previous place no longer being rented, or something like that.

I've also had a few renters who have liked it so much they decided to also buy in The Plantation, thus taking them out of the rental market.

I have tried to market it somewhat to get more rentals during the "off season". Basically, I can always count on snowbirds to rent it during the winter, paying top price. Based on the fact that I ALWAYS turn away over 100 couples per season, I could probably raise my rates during the peak season.

Unfortunately, it seems hard to rent it at all during the summer months. I try to "sell" it as a great place to rent during the off season if you are thinking about buying in the area....using it as kind of a home base, but so far success has been limited. The smart buyer would rent my home during the off season when the golf is cheaper, restaurants and traffic is less busy, and my rent is cheaper. Being in the area would help them get the feel of the area, and snag a great deal on their future home.

Here is my website; www.****.com/145288

I would think that it is easier to rent to perspective future owners all year in The Villages. Usually for the snowbird season, my place is rented a year ahead of time. The nice folks who are currently renting my place this year booked it over a year ago.

Frank D.

[another Linda]

Our place was rented June July and August last year to a couple who were looking around to buy. It worked well for both them and us. I doubt if we can count on that every year.

[Best Mom]

Frank and Jane,
Thanks for sharing info on your home. Love your yard.

[faithfulfrank]

Thank you. We bought it mainly for the big yard, pond and golf view. We love it there.....it's hard to stay up here freezing all winter when you own a piece of heaven.....

It is interesting to read of how the rental market works in TV....

Frank D.

[Cassie325]

Thanks Frank.....was just interested....but over 100 hundred couples turned away....WOW!!!!


I know a few rental owners that would love some referrals....


WOW...again!!!

[redwitch]

A friend of mine does the rentals for ERA-Hometowne. She's been telling me they've had a lot of cancellations because of the economy. It really is sad. The renters can't take the vacations they so want and need. The landlords have to find a way to make ends meet without the needed income to offset their retirement home.

[MelZ]

I rent thru TV and just had my March rental cancel. So far Jan and Feb are holding strong.

[Irish Rover]

faithfulfrank - what is your monthly rate during the off season months? Just send me a private message if you don't want to post the numbers. I had to cancel my Jan/Feb rental at TV due to family commitments and will need a Florida fix sometime during the year. The pond sounds terrific as I am an avid bass fisherman. I would also like info on the golf course - green fees etc. Thanks irishrover

[faithfulfrank]

Dear Irish Rover,
I DM'd you. Thanks.

I look forward to hearing more about how the rental market works, etc in The Villages. I apologize if it appears that I hijacked the thread here......I do not wish to do that.
Please, more about your wonderful lifestyle......:laugh:

Respectfully, Frank D. (freezing in NY, dying to live where the palm trees live.......)

[faithfulfrank]

Since this thread is about TV rentals, I'm interested in knowing how the rental market, etc is in TV, compared to what I am used to in The Plantation.

1) For rentals, is it difficult to find rentals during the "snowbird" season? Like, can you STILL find rentals for THIS Jan-Feb-March season.....this close to this season?

2) Is it like what I'm used to, having the snowbird season always booked, and the summer months almost never booked?

3) Without getting too personal, (I do not want to be rude) , what are the rates like? Are they different in the summer/winter? Do you allow rents for less then one month at a time? (We do not...against our HOA.)

I'm guessing that it is different in TV. I'm guessing that it is easier to have rents booked any time of year, from people thinking about buying there.

Please do not think I have any ulterior motives....we are only 13 miles apart, and I'm just interested. I'm guessing that the "TV lifestyle" makes it easier to rent.

Does TV help you out finding renters? The Plantation publishes a rental list that we can get on to free that they send out to anyone interested. It is a nice thing for them to do.

As I probably stated before....our place is rented until May, so we cannot get back down there until then. I'm freezing here in NY, blowing snow and bracing for the snowstorm we should get tonight......:cold::cold:

Frank D.

[Best Mom]

Don't want to hijack but... my husband and my friends in Fredonia NY are waiting to see what the storm brings tonight. Must be the same storm. Bless you people. So happy to be here.(The Villages)

[MelZ]

I leave for TV on Monday so let it storm today, just be clear on Monday.

My rental is booked thru March and I get about 2 weeks a month during the off season. I rent thru TV and 2008 was very good.

[rshoffer]

For those of us who can't even spend enough time in TV to qualify as snowbirds and rent our places ...

How many are experiencing cancellations due to the economy? All our people from last year are still coming back, but I wonder ... what with the economy and the new places TV is building, we may be forced to quit our jobs and spend more time in TV next year. Have you had a cancellation? Have you been able to rent again?see my "RUMOR CENTRAL" post this am.

[batman911]

This website has lots of info on TV rentals.

http://thevillages4rent.com

[downeaster]

This website has lots of info on TV rentals.

http://thevillages4rent.com

Wow!,that's revealing. Over 550 homes for rent in The Villages on one website.

[l2ridehd]

Downeaster....How is that reveling to you? To me, I am surprised at how small the number is. The Villages now has almost 50,000 homes, so it's just over 1%. The Villages themselves have over 300 rental units for lifestyle previews and winter rentals with the new location opening in February. I am sure not all the rentals are available on that site, but it is the largest one. With this type of community, I would guess that many people buy and rent for a few years before moving there so I guess I would have expected numbers closer to 5000 then 500. Probably if all rental markets were known it would be higher then the 550, but doubt it is any more then double. So still only 2% of the market. Still seems low.

[downeaster]

Thanks for the arithmetic lesson.

Please note, I said 500 homes on one website.