Annual Rents for Patio Villa's South 0f 466

[wlasowicz]

Hi
I am curious to see what people are charging or paying for annual rent on patio villas south of 466. This include furnished and and unfurnished I thought $1400 to $1500 was the going rate. I was talking to a lady a unfurnished villa in her neighbor was renting $2000 a month. With expenses and cost of real estate going I like to see what the going rates are. Also include details on what the owner pays and the renter such cable electric water etc

[Toymeister]

The ideal number for rentals is 1% of the home's value per month. In TV it is above 50% of that, but below .75%

You, the owner, can't disassociate your name from utilities billed by TV: amenities, water, sewer, taxes. You can market your rent at $xxxx + amenities to get it closer to 1%.

[Calisport]

The patio villa across the street charges $3,500 a month during the cool months so far for a furnished home. The owner has 3 units in the area.

[rustyp]

The ideal number for rentals is 1% of the home's value per month. In TV it is above 50% of that, but below .75%

You, the owner, can't disassociate your name from utilities billed by TV: amenities, water, sewer, taxes. You can market your rent at $xxxx + amenities to get it closer to 1%.

The average price of a preowned patio villa in the Brownwood area per the TV market update flyer is $306K. Thus by Toymeister's rule of thumb it should rent for $4500 per month in that area.

[Dotneko]

hmmmm. Might want to consider this whole renting out thing.........

[Toymeister]

The average price of a preowned patio villa in the Brownwood area per the TV market update flyer is $306K. Thus by Toymeister's rule of thumb it should rent for $4500 per month in that area.

Hmm, you're a little light on mathematics today :-)). 1% would be 3,060, rounded to 3,100. Variables are cart or no cart and how you handle amenities, so 3,500 is possible . That is you could add amenities in or roll them in.

Five years ago you would to get one half of one percent, or 1,530. It varies with supply. 1% of market value is sustainable and profitable.

[rustyp]

The ideal number for rentals is 1% of the home's value per month. In TV it is above 50% of that, but below .75%

You, the owner, can't disassociate your name from utilities billed by TV: amenities, water, sewer, taxes. You can market your rent at $xxxx + amenities to get it closer to 1%.

The average price of a preowned patio villa in the Brownwood area per the TV market update flyer is $306K. Thus by Toymeister's rule of thumb it should rent for $4500 per month in that area.

Hmm, you're a little light on mathematics today :-)). 1% would be 3,060, rounded to 3,100. Variables are cart or no cart and how you handle amenities, so 3,500 is possible . That is you could add amenities in or roll them in.

Five years ago you would to get one half of one percent, or 1,530. It varies with supply. 1% of market value is sustainable and profitable.

My mistake - I rounded down (my option Vs yours) but the mistake was I interpreted the "above" 50% to 75% to be an add on (1.5x / 1.75x) not less than the going rate.

[Two Bills]

Wife and I were looking for next winter, and there are very few PV's to rent, and nothing worth having under $4000+ a month during high season.
With car rental for us foreigners up 300% , it's becoming a pricey 3 month vacation!

[RVJim]

The ideal number for rentals is 1% of the home's value per month. In TV it is above 50% of that, but below .75%

You, the owner, can't disassociate your name from utilities billed by TV: amenities, water, sewer, taxes. You can market your rent at $xxxx + amenities to get it closer to 1%.

if you are getting 1% of value per month then you are getting a 12% annual capitalization rate. You are not likely to get that on an full 12 month lease. Nice try though I think 7-8% cap rate is likely more realistic. You might get 12% on a full seasonal depending on what you throw in.

[Babubhat]

Apartment is 2000 a month and up. Homes should be more.

[vintageogauge]

In late 2019 a 2 bed 2 bath PV unfurnished long term through The Villages Hometown was $1,400.00/month and the average cost of a new unit late that year was around $200,000.00. Now they are in the $330,000 range if you can find one so that would put it at about $2,300/month which I think is a stretch, maybe more like $1,800.00 to $2,000.00.

[mrf0151]

The poster was asking about annual rent not seasonal rent for Patio Villas. We have rented our patio villa for 7 years now with current tenant on 4th year. Our current monthly rate is $1400.00. Added to that monthly rent is Seco and Teco. We have heard of some landlords also charging the monthly amenity fee.

[thevillages2013]

The poster was asking about annual rent not seasonal rent for Patio Villas. We have rented our patio villa for 7 years now with current tenant on 4th year. Our current monthly rate is $1400.00. Added to that monthly rent is Seco and Teco. We have heard of some landlords also charging the monthly amenity fee.

2/2 or 1/1? If you have a good tenant that is taking good care of your villa that means a lot but if it’s a 2/2 you are leaving some money on the table especially since you are including trash,water, sewer and amenities. Please tell me you aren’t throwing cable tv in too

[bowlingal]

Actually, the OP is asking about ANNUAL rent, not high season rent. Annual rent is much cheaper than high season

[LonnyP]

I have one that rents for as low as 1800 for summer months to 3800 for the 3 peak months. It is just N of 44 off Morse. I pay all the other expenses.

[thevillages2013]

I have one that rents for as low as 1800 for summer months to 3800 for the 3 peak months. It is just N of 44 off Morse. I pay all the other expenses.

The topic is LONG TERM RENTALS

[rsmurano]

There is a house in St Catherine, a designer home with pool that is getting $7100 a month. Since its new, I don't think they paid anywhere near $710,000 for it.
When I called, it was rented

[Toymeister]

It's not what was PAID, it's about current VALUE. And yes, a designer with pool can be 710k

[Toymeister]

if you are getting 1% of value per month then you are getting a 12% annual capitalization rate. You are not likely to get that on an full 12 month lease.
Hmm, you could use a brush up on reading comprehension or just the art of not making assumptions. In ownership of a home, there is this thing called expenses. You know, taxes, maintenance at etc. This is why I never mentioned a cap rate

[Altavia]

Hi
I am curious to see what people are charging or paying for annual rent on patio villas south of 466. This include furnished and and unfurnished I thought $1400 to $1500 was the going rate. I was talking to a lady a unfurnished villa in her neighbor was renting $2000 a month. With expenses and cost of real estate going I like to see what the going rates are. Also include details on what the owner pays and the renter such cable electric water etc

A Villages Rep or Realtor can look at your place and give their rental market value assessment for additional input.

[karenzeee]

Wife and I were looking for next winter, and there are very few PV's to rent, and nothing worth having under $4000+ a month during high season.
With car rental for us foreigners up 300% , it's becoming a pricey 3 month vacation! Try renting in the Northern section. Prices for rentals are less than the new area. Rent From A Villager has lots of owner managed rentals you can check out.

[wlasowicz]

I checked with The Villages Rental dept. They only do long term unfurnished. prices $1550 to $1650 per month no golf cart included tenant pays the usual electric gas cable and internet So I would assume furnished probably $1800 to over $2000 depending on location and what amenities the owner includes

[charlieo1126@gmail.com]

2/2 or 1/1? If you have a good tenant that is taking good care of your villa that means a lot but if it’s a 2/2 you are leaving some money on the table especially since you are including trash,water, sewer and amenities. Please tell me you aren’t throwing cable tv in too a valued tenant is worth more then the extra money you may or not make I had someone who stayed in my condo in south Florida for 7 years the only thing I went up on was maintenance fee when it went up , when he retired he left the area and I sold the place , he kept the place in perfect condition, if you have a good tenant you want to keep him or her

[wlasowicz]

I agree a valued tenant is important but cost still go up. All of my CDD expenses have gone up since I purchased my place 6 years ago plus electric cable and internet. You can absorb the cost only so much. Its a balance between keeping your tenant happy but still pay the bills and stay in the black

[manaboutown]

if you are getting 1% of value per month then you are getting a 12% annual capitalization rate. You are not likely to get that on an full 12 month lease. Nice try though I think 7-8% cap rate is likely more realistic. You might get 12% on a full seasonal depending on what you throw in.

To be clear cap rate is the ratio of net operating income (NOI) to a property's value. It is not based on gross rental income to property value.

[Topspinmo]

Wife and I were looking for next winter, and there are very few PV's to rent, and nothing worth having under $4000+ a month during high season.
With car rental for us foreigners up 300% , it's becoming a pricey 3 month vacation!

Might try way up in north part of villages? IMO anything south of 466 going to be higher. The old location, location, location comes in play.