Question on renting out house

[Garywt]

Something we never thought we would do but a friend called asking if she could rent our house over the summer. Never planned on it but since it is a friend we said yes. She will pay $1500 a month, not sure is that is cheap or not but money we did not plan on.

Anyway, what do I need to do. Is it just to get her a guest pass or ID so she can use the pools etc. How do I do that and is there anything else that I need to do.

Thanks

[rjm1cc]

I would check with your insurance co to see that you are covered.

You might also ask about how long the house can be vacant without an insurance problem.

[Garywt]

I would check with your insurance co to see that you are covered.

You might also ask about how long the house can be vacant without an insurance problem.

Thanks, the house is generally empty 46 weeks out of the year including May 1 to sometime in October.

[fdpaq0580]

I would check with your insurance co to see that you are covered.

You might also ask about how long the house can be vacant without an insurance problem.

Most definitely check with your insurance. Liability differences for a renter are possibly different than for a guest in your home. Also, if you report rent on your taxes, it may change your tax status and forms needed.

[Bjeanj]

To obtain a guest ID, go here, log in, and complete the form. Guest ID Application (https://gcs.thevillages.com/cgi-bin/gc100)

You’ll want to do this about 2-3 days ahead of time, and specify where you want to pick it up. Note that YOU will have to show your ID to pick it up, I believe.

Other people who rent their home: can you confirm or correct that info about picking up the guest IDs?

[Bill14564]

To obtain a guest ID, go here, log in, and complete the form. Guest ID Application (https://gcs.thevillages.com/cgi-bin/gc100)

You’ll want to do this about 2-3 days ahead of time, and specify where you want to pick it up. Note that YOU will have to show your ID to pick it up, I believe.

Other people who rent their home: can you confirm or correct that info about picking up the guest IDs?

I believe the guest ID is only valid for 30 days. If the person is renting the home for several months and the homeowner is out of the area it will be difficult to renew the guest ID.

I would suggest calling the customer service center and ask them about the procedure. I believe it will involve turning in your resident ID for the period of time the renter will have their ID but the customer service center can point you in the right direction.

[Two Bills]

I would assume the landlord would pass their Resident ID over to the renters.
Guest ID is not much use to a long term renter.

[DALEPQ]

We have previously rented our house for several summer months.
$1500./mo. seems like a fair rent, for summer months, providing you are still paying the
typical monthly expenses. (Are your summer months June, July Aug.?)
We turn our residence id's back to T.V. (depends on your location), they hold for us till we get back. The renter can then get a "residence id" for $50. for two persons, for the term of their rental. That cannot overlap with your time in T.V. (If so they need to get a guest id.)
You just need to fill out a form for the renter to allow them to get their resident id.
T.V. has the form online as well as in person. Need to go to their regional sales office.

[Stu from NYC]

Interesting do you ask for a security deposit given that is a friend but what if they damage something?

[n8xwb]

You are also required to collect/pay County/State taxes (~7% in Sumter County as I recall)


Who Must Register to Collect Tax?


If you collect or receive rental charges or room rates for living quarters or sleeping or housekeeping
accommodations for rental periods of six months or less (transient rental accommodations), you must
register with the Department to collect, report, and remit sales tax and surtax, plus any local option transient
rental tax that is collected by the Department. (Transient rental tax collected by the county is reported to the
county.) Each transient rental accommodation is required to be separately registered by the owner or the
owner’s agent who collects and receives rental payments on behalf of the owner.
You can register to collect, report, and pay sales tax, discretionary sales surtax, and transient rental tax
collected by the Department online at floridarevenue.com/taxes/registration. The online system will guide
you through a series of questions that will help you determine your tax obligations. If you do not have
internet access, you can complete a paper Florida Business Tax Application (Form DR-1).
As a registered sales and use tax dealer, a Certificate of Registration (Form DR-11) and a Florida Annual
Resale Certificate for Sales Tax (Form DR-13) will be mailed to you. Paper tax returns will be mailed to you
unless you are filing electronically. The Certificate of Registration must be displayed in a clearly visible place
at the location of the transient rental accommodation. The Florida Annual Resale Certificate for Sales Tax is
used to lease or rent transient rental accommodations that will be subleased to others for which you will
collect transient rental taxes. Florida law provides for criminal and civil penalties for fraudulent use of a
Florida Annual Resale Certificate for Sales Tax.

[thevillages2013]

Something we never thought we would do but a friend called asking if she could rent our house over the summer. Never planned on it but since it is a friend we said yes. She will pay $1500 a month, not sure is that is cheap or not but money we did not plan on.

Anyway, what do I need to do. Is it just to get her a guest pass or ID so she can use the pools etc. How do I do that and is there anything else that I need to do.

Thanks
Mixing money and friends sounds like a bad idea but your guest/tenant would be better served with a temporary resident ID which takes the place of your IDs . They used to make you turn your ID’s in but I don’t think they make you do that anymore the temp ID just replaces your’s temporarily. Golf for the tenant is the same rate as you rather than the guest rate

[fdpaq0580]

Gary,
You are now a landlord. I sincerely hope your friend is a really, really great friend since you now realize what you have taken on for her summer vacation. Assuming "the summer" meant 3 months, that means $4500.00 gross income. After all that you have to do for making all the arrangements for her to enjoy the amenities and to pay taxes etc. Since you have agreed (per my understanding of your post) to $1500.00 per month,it is assumed you will be paying for all the costs (water, sewer, electric, trash, cable/internet, cards, etc, plus the taxes and any fees) out of her payment to you. You may wish to have another talk with her, now that you are beginning to grasp the situation more firmly. ( Reread post 8, 10, 11! ) Think about it.
Good luck with whatever you decide.

[j_vermilya]

All the information here is correct. Your home owner's will in fact charge you a prorated monthly amount, they will need the dates the guests will be here. Also be sure your golf cart is insured for renter's use, some policies will not cover that, The villages insurance does.

[tsmall22204]

Beware of "friends". Renting to friends is a big mistake unless you are willing to face your friend in court for damages to your home.

[RealJudy]

Check with sales office for forms.

[vanjon]

To obtain a guest ID, go here, log in, and complete the form. Guest ID Application (https://gcs.thevillages.com/cgi-bin/gc100)

You’ll want to do this about 2-3 days ahead of time, and specify where you want to pick it up. Note that YOU will have to show your ID to pick it up, I believe.

Other people who rent their home: can you confirm or correct that info about picking up the guest IDs?


What I understand is 2 type: temporary resident ID is $50 and the renter have to pickup by themself. The Guest ID where it is free only 30 days permit, the owner have to show the ID when owner pickup the ID. I think renter can pick up too but do not know what requirement from The villages

[sallyg]

Poster number 8 is correct re: resident IDs. Not sure what size house you have, but $1500 is plenty for summer rent. Expect a certain amount of wear and tear. Even meticulous friends can spill or scratch things. You may need to replace a towel or two, have carpet shampooed, maybe a ring mark or scratch here and there. For $1500./mo you can easily repair or replace, or clean when you get home.
Are you supplying a golfcart? That is something you might want to check out with your insurance co. Hope it works out well for you.

[Daddymac]

https://floridarevenue.com/taxes/tips/documents/TIP-123189_TIP_20A01-06_FINAL_RLL.pdf

[laboutj]

Lots of good information here. Guest id's are only good for 30 days, if your renters are going to be here for more than 30 days you need to turn in your villages id's and fill out a form for the people that are renting your house.
You will have to file with the state of Florida and pay the 7% sales tax on the rental. If you are late filing each month you will have to pay a penalty (I know this firsthand).
You will also have to check with your insurance company for both your home and golf cart to see if renters can use either.
If you normally leave your house for the summer and set your temp at 80 or so, you will be using more electricity when the renters are setting it at 75 and it's 90+ degrees outside.
If there are things that you don't want them to use, you would have to lock them away somewhere.

Some decisions to weigh for collecting that rent.

[fixit6404]

Something we never thought we would do but a friend called asking if she could rent our house over the summer. Never planned on it but since it is a friend we said yes. She will pay $1500 a month, not sure is that is cheap or not but money we did not plan on.

Anyway, what do I need to do. Is it just to get her a guest pass or ID so she can use the pools etc. How do I do that and is there anything else that I need to do.

ThanksWhen we rented our home out winters before we were able to use it we had to turn in out ID's at Spanish Springs sales center and the renters were issued ID's that were valid as long as they were here. Only one set of ID's will be issued per address. Any time we came down and stayed at the home while vacant we picked up our ID's and turned them back in when we left.

[CountryFox]

Hi
I can help you. I've rented my house in the past and I have also coached others on how to rent their houses. There are several things that you need to consider and put in place. For instance depending upon how long your friend is renting, you will need to pay Sales and Use tax on the rental income. If you don't and you get caught the fines are very steep. Additionally you will need to transfer your owner level ID rights to the tenant while they are here. Guest passes are not issued for long periods of time.
Privately email me at Country_Fox1@yahoo.com and we can setup a time a talk.
Donna

[Garywt]

Gary,
You are now a landlord. I sincerely hope your friend is a really, really great friend since you now realize what you have taken on for her summer vacation. Assuming "the summer" meant 3 months, that means $4500.00 gross income. After all that you have to do for making all the arrangements for her to enjoy the amenities and to pay taxes etc. Since you have agreed (per my understanding of your post) to $1500.00 per month,it is assumed you will be paying for all the costs (water, sewer, electric, trash, cable/internet, cards, etc, plus the taxes and any fees) out of her payment to you. You may wish to have another talk with her, now that you are beginning to grasp the situation more firmly. ( Reread post 8, 10, 11! ) Think about it.
Good luck with whatever you decide.

So we pay all the expenses all year anyway so no real extra cost for us. It will be 6 months starting May 1. Will look into the other things. Thanks.

[Papa_lecki]

So we pay all the expenses all year anyway so no real extra cost for us. It will be 6 months starting May 1. Will look into the other things. Thanks.

Your water and electric will rise for 6 months - probably more than double. Plus you will pay taxes on your income and you’ll have repair/replacement costs.

You will probably net positive cash flow - but don’t think your expenses will not increase.

We’ve had to replace coffee tables, glasses, stuff in the kitchen walks away (probably in the trash).

[Garywt]

Your water and electric will rise for 6 months - probably more than double. Plus you will pay taxes on your income and you’ll have repair/replacement costs.

You will probably net positive cash flow - but don’t think your expenses will not increase.

We’ve had to replace coffee tables, glasses, stuff in the kitchen walks away (probably in the trash).

Hopefully there will not be much damage. A single female doctor will be there and maybe we will just call it a house sitter for us. We shall see.

[Velvet]

Hopefully there will not be much damage. A single female doctor will be there and maybe we will just call it a house sitter for us. We shall see.

Yes, I don’t see why she can’t present you with a thank you gift, when she is gone. If it was one of my friends they would not be paying rent, but house minding for me.

[CoachKandSportsguy]

my, my you all are judgmental about the quality of the original poster's choice in friends. the original poster just asked about the requirements which are Village ID requirements, insurance and taxes, that is it. .

the quality of his friend is unknown to you, so really not a answer appropriate to the question.