Renting Out a Property

[celticsj]

Hello, my wife and I are closing on a house in July. We are both teachers and have signed teaching contracts for this upcoming year, so we cannot move to TV until next summer. We hope to rent out our property until we can move here permanently and need help doing this. Is it better to hire a property management company or list it ourselves and then hire services to clean and take care of lawn care for us? Any suggestions or recommendations are greatly appreciated! Thanks!!

[retiredguy123]

If this is a new house I cannot imagine renting it to strangers. If it is pre-owned, be very careful to whom you rent it. If you are out-of-town, and you are not experienced landlords, you may need to hire a property management company. It would be difficult to manage repairs and maintenance from out-of-town, especially if you are not familiar with the area. Ideally, I would not rent the house, if possible. Don't expect to make a lot of money.

[asianthree]

If you aren’t coming down consider long term un furnished. Your only cash out is lawn/pest VCCD bill.
Our first year we used a highly recommended company. Our contract rental was 6 months or longer. Not only did they rent short term 2-4 days their cleaning staff was stealing us blind. We flew down on an unannounced visit, found their cleaning staff car in our driveway with pictures, espresso maker in the box, new clothes from a locked closet.

As police report filed the owner showed up denying any loss. After the officer politely explained this is what was in your employee car, here are detailed pictures from the owner of each and every item taken 4 months ago.
Fired them and for 14 years rented on our own long term with great tenants

[retiredguy123]

If you aren’t coming down consider long term un furnished. Your only cash out is lawn/pest VCCD bill.
Our first year we used a highly recommended company. Our contract rental was 6 months or longer. Not only did they rent short term 2-4 days their cleaning staff was stealing us blind. We flew down on an unannounced visit, found their cleaning staff car in our driveway with pictures, espresso maker in the box, new clothes from a locked closet.

As police report filed the owner showed up denying any loss. After the officer politely explained this is what was in your employee car, here are detailed pictures from the owner of each and every item taken 4 months ago.
Fired them and for 14 years rented on our own long term with great tenants
I would point out that the OP said they will only be renting out the house for one year. I think it will be difficult to find a good tenant who wants to rent an unfurnished house and then move out in a year.

[OrangeBlossomBaby]

Hello, my wife and I are closing on a house in July. We are both teachers and have signed teaching contracts for this upcoming year, so we cannot move to TV until next summer. We hope to rent out our property until we can move here permanently and need help doing this. Is it better to hire a property management company or list it ourselves and then hire services to clean and take care of lawn care for us? Any suggestions or recommendations are greatly appreciated! Thanks!!

I think this is something you probably should've figured out for yourselves before buying a home.

You aren't going to find tenants willing to furnish the home themselves, for just one year, and then be expected to move everything back out again.

So you'll have to buy an entire house worth of furniture for your new home, before you even offer it for rent. July is just one week away.

I would recommend you contract with The Villages Hometown Property Management to handle oversight on your property until you're ready to move in. They're more expensive than others, but they are affiliated with the Developer and will do everything possible to ensure that your property complies with the rules, is rented by vetted tenants, cared for meticulously, and is in tip-top shape when you come down to take occupancy.

[Aces4]

I would point out that the OP said they will only be renting out the house for one year. I think it will be difficult to find a good tenant who wants to rent an unfurnished house and then move out in a year.

A one year tenant isn't that difficult and if the OP wants to make really good money without tying up the home for the year, rent it seasonally. You have to remember some people providing advice for your question don't like renters and will make doing so look extremely difficult.

There are many people with rental properties in TV's and I hope they respond shortly with some good insight for you.:coolsmiley:

[retiredguy123]

I think this is something you probably should've figured out for yourselves before buying a home.

You aren't going to find tenants willing to furnish the home themselves, for just one year, and then be expected to move everything back out again.

So you'll have to buy an entire house worth of furniture for your new home, before you even offer it for rent. July is just one week away.

I would recommend you contract with The Villages Hometown Property Management to handle oversight on your property until you're ready to move in. They're more expensive than others, but they are affiliated with the Developer and will do everything possible to ensure that your property complies with the rules, is rented by vetted tenants, cared for meticulously, and is in tip-top shape when you come down to take occupancy.
To clarify, they are not affilliated with the developer. They are a private company that manages rentals just like every other company. They manage properties in The Villages, but "Villages" is not in their official name. That is what they told me.

[asianthree]

I would point out that the OP said they will only be renting out the house for one year. I think it will be difficult to find a good tenant who wants to rent an unfurnished house and then move out in a year.

Six months to one year you have your pick of multiple applicants. They rent while finding a home, or a certain village. We would have some contact during home renovations.

Every long term on all of our rentals started with One Year. It’s a fail safe, in case you choose not to renew. One house had 3 one year tenants, the other house had a 6 month tenant while their home was being renovated, then a 9 year tenant.

[retiredguy123]

A one year tenant isn't that difficult and if the OP wants to make really good money without tying up the home for the year, rent it seasonally. You have to remember some people providing advice for your question don't like renters and will make doing so look extremely difficult.

There are many people with rental properties in TV's and I hope they respond shortly with some good insight for you.:coolsmiley:
Thanks for your comments. I think that most homeowners would prefer to Iive in a neighborhood that doesn't have a lot of renters.

We don't know much about the OP, but would you buy a new house in an unfamiliar community and immediately rent it to strangers for the first year? I have been a landlord and it is much more of a hassle than people who have not been landlords often realize.

[OrangeBlossomBaby]

Thanks for your comments. I think that most homeowners would prefer to Iive in a neighborhood that doesn't have a lot of renters.

We don't know much about the OP, but would you buy a new house in an unfamiliar community and immediately rent it to strangers for the first year? I have been a landlord and it is much more of a hassle than people who have not been landlords often realize.

Especially if you are making that decision just a week before you close on the property.

[Aces4]

Thanks for your comments. I think that most homeowners would prefer to Iive in a neighborhood that doesn't have a lot of renters.

We don't know much about the OP, but would you buy a new house in an unfamiliar community and immediately rent it to strangers for the first year? I have been a landlord and it is much more of a hassle than people who have not been landlords often realize.

I appreciate that question but in our case, yes, we would rent out a new house. Choosing the renters is critical and we have a tendency to make changes prior to our moving into a home anyway.

I know renting is a hassle but sometimes that makes The Villages scenerio possible for those hoping to buy in prior to their retirement. Their investment helps keep TV's healthy financially and continuing to develop without prices dropping for lack of sales. It's a mixed bag of blessings for current owners.

[celticsj]

I think this is something you probably should've figured out for yourselves before buying a home.

You aren't going to find tenants willing to furnish the home themselves, for just one year, and then be expected to move everything back out again.

So you'll have to buy an entire house worth of furniture for your new home, before you even offer it for rent. July is just one week away.

I would recommend you contract with The Villages Hometown Property Management to handle oversight on your property until you're ready to move in. They're more expensive than others, but they are affiliated with the Developer and will do everything possible to ensure that your property complies with the rules, is rented by vetted tenants, cared for meticulously, and is in tip-top shape when you come down to take occupancy.
Sorry, I should have been more clear in my post. We purchased a used home, turn-key so it is furnished. If we were not teachers with signed contracts, we would be there now :)

[OrangeBlossomBaby]

Sorry, I should have been more clear in my post. We purchased a used home, turn-key so it is furnished. If we were not teachers with signed contracts, we would be there now :)

Oh yeah that clarification makes a HUGE difference! You'd have no problem renting the place out until your contract is up. However - something to consider:

Your best chances of finding tenants would be a snowbird situation. You could probably charge enough for a snowbird tenant, to cover the expenses and wear-and-tear on furniture and appliances, if you rented just from September-April. This would also give you a chance to enjoy your new home in the summer, before the school year starts back up again.

I still recommend the Villages Hometown Realty. They're located IN the Villages (their main office is at Brownwood town square) and they have a "home watch" service if it's something you feel you'd need, for when the house isn't occupied. No idea how it works now, but when we rented for a week here and there on vacation, we picked the keys up at the Villages Sales center. They had our keys, guest passes, and a map, and we were required to show our ID to get any of it. It was an excellent experience as a tenant.

[CarlR33]

Should have waited to buy, IMO. You can rent for the Jan-March timeframe but is it worth it for buying towels, sheets, etc for a one and done. Your choice.

[elle123]

Hello, my wife and I are closing on a house in July. We are both teachers and have signed teaching contracts for this upcoming year, so we cannot move to TV until next summer. We hope to rent out our property until we can move here permanently and need help doing this. Is it better to hire a property management company or list it ourselves and then hire services to clean and take care of lawn care for us? Any suggestions or recommendations are greatly appreciated! Thanks!!
You should've waited another year to purchase as prices will continue to drop. By the way, there's a ton of rentals in The Villages that aren't being rented out. If you're lucky enough to find a rentor you'll need a reliable and honest property manager. Good luck on that one.

[ToniR]

We just did the same thing, bought a turnkey house that closes next week. We can't get down there until September because of my husband's job, but after that we do plan to rent out seasonally.

I can tell you that I talked to pretty much every property management company I could find. They all want a lot of money and when I did the math on renting seasonally and paying what they want, it was just a lot of money and we were not even going to break even.

So I decided to just get a property manager and do the renting myself. I found a great property manager, Mike and Molly, and I have high hopes of being able to rent over the winter.

I know people have talked about Hometown Properties and they were very nice, but they want 20%, plus you have to pay the rental tax and the cleaning fee, they don't pass it along to the renters like some of the others do, plus they're very specific about what you're allowed to have and what you must have on your property. I wasn't willing to pay the extra money for all that stuff. But hopefully you'll find a way that works for you. Good luck!

[TMHwestford]

Hello, my wife and I are closing on a house in July. We are both teachers and have signed teaching contracts for this upcoming year, so we cannot move to TV until next summer. We hope to rent out our property until we can move here permanently and need help doing this. Is it better to hire a property management company or list it ourselves and then hire services to clean and take care of lawn care for us? Any suggestions or recommendations are greatly appreciated! Thanks!!

We had a great experience renting our new CYV seasonally between 2016 and 2020. We chose to only rent in season and we collected the rent upfront, we also only rented for five or six months term to one tenant. We felt doing it this way reduced our risk of getting bad tenants. We used Villages Homes 4 Rent. We do have family in TV which helped with getting the renter into the house and managing some of the small issues that came up but I don't remember there being a lot of issues for our family to deal with.
We had a mortgage at the time so we we didn't make money but it took the edge off the cost of owning the house and renting in season only allowed us to visit for a few weeks during the summer.
The rental market was very good during these years but I haven't kept up with it since we retired so I don't know if it's more competitive now. One thing we did that gave us an edge was to allow a small dog, we had one ourselves, we could charge a little more and there were fewer rentals taking pets at the time.
I say if you feel you can rent it go for it, you'll figure it out. It may be a good time to buy right now, maybe??? Good luck.

[goneil2024]

Being a landlord has its own set of risks and rewards. Unless you are experienced landlords be sure to hire folks that are and have appropriate legal, finance and risk management/insurance professionals review your documents and plan. A plan may seem like a great idea until something goes wrong, someone is injured or your tenants decide not to move out when agreed.

This is my opinion not advice.

[retiredguy123]

Being a landlord has its own set of risks and rewards. Unless you are experienced landlords be sure to hire folks that are and have appropriate legal, finance and risk management/insurance professionals review your documents and plan. A plan may seem like a great idea until something goes wrong, someone is injured or your tenants decide not to move out when agreed.

This is my opinion not advice.
I agree. You cannot just buy a house, turn it over to a management company, leave the state, and expect to make money. You must be involved.

[dougjb]

If you are considering a management company, I would avoid Down Home like the plague.

When I turned my property over to them to rent, they did a very unsatisfactory screen of my potential tenants. Then they rented it for less than I authorized them to rent it for...without consulting me first. Then, I had some issues with a new house needing its one year warranty checkup. They failed to follow through and properly submit my punchout list which left me with no recourse. Then when I saw the irrigation use being very high, I tried contacting them to send someone to adust the sprinklers. Not only did they not do that, but they failed to even return my phone calls, emails, etc.

While very nice when you first deal with them, please do not expect the people at Down Home to be at all responsive or professional. They cost me a boat load of money. The only thing they were good at was taking their fee from the rent payments. I would suggest to anyone seeking a management company that Down Home is one to skip from consideration.

When I went through renting the property myself, I found that, by careful screening, you can wind up with close to perfect tenants who pay rent on time and take care of the property (without paying exorbitant management fees).

Good luck in your endeavor!

[Nell57]

Wow….apologies for all the negative comments.
Hope the few positive ones give you enough information to help you out.
Sometimes TOTV has some grumpy keyboard warriors who like to rain on everyone’s parade.
You’ll meet MANY happy people once you make this your new home.

[CoachKandSportsguy]

Renting finance:

100% rental in an LLC:

There are two definitions for success:
1) Cash flow positive, after all expenses.
2) Net income after tax positive.

Nbr 2 is impossible in TV until depreciation is low, and rental inflation occurs.
Nbr 1 is gold and the goal. . and can be done.

The key is 20% the rate and 80% high occupancy. .

otherwise, just expect to pay your property taxes and some utilities with the rent.

[jarodrig]

Don’t forget that you’ll most likely need to pay taxes to Florida for renting your property. Here is a cut/paste from ChatGPT for your consideration.
Renting out a home in Florida as a landlord has several tax implications at both the federal and state (and local) levels. Here’s a breakdown of what landlords in Florida should be aware of:

⸻

������ 1. Federal Tax Implications (IRS)

Since Florida does not have a state income tax, the federal tax rules will be your primary concern:

✅ Rental Income is Taxable
• All rental income received must be reported on your federal income tax return.
• This includes rent payments, security deposits (if not returned), lease cancellation fees, and any services provided in lieu of rent.

✅ Deductions You Can Take

You can deduct certain expenses related to the rental property, including:
• Mortgage interest
• Property taxes
• Operating expenses (repairs, maintenance, utilities if paid by landlord)
• Depreciation on the property structure (not land)
• Insurance premiums
• Management fees (if you use a property manager)
• HOA dues
• Legal and accounting fees

✅ Depreciation
• You can depreciate the property over 27.5 years (residential real estate).
• This is a significant tax benefit, reducing your taxable rental income each year.

❌ Passive Activity Rules
• Rental real estate is considered a passive activity, so losses may be limited unless:
• You are a real estate professional, or
• You actively participate and meet income thresholds (up to $25,000 in losses may be deductible if your modified adjusted gross income is under $100,000).

⸻

������ 2. State & Local Tax in Florida

✅ No State Income Tax
• Florida does not tax individual income, so rental income is not taxed at the state level.

❗ Sales and Use Tax on Short-Term Rentals
• If you’re renting the property for periods of less than 6 months (e.g., vacation rentals or Airbnbs), you may be required to:
• Collect and remit state sales tax (6%)
• Pay county tourist development taxes (varies by county, usually 1–5%)
• Register with the Florida Department of Revenue and possibly your local tax collector

✅ Property Taxes
• You’ll still be responsible for annual property taxes to the county.
• Homestead exemption typically doesn’t apply to rental properties (non-primary residences).

⸻

������ 3. Recordkeeping & Filing
• Use Schedule E (Form 1040) to report income and expenses.
• Maintain clear records of income, receipts, contracts, and any capital improvements for depreciation tracking.

[merrymini]

I had been a landlord for over 30 years before coming to the Villages. I have had highs and lows. Cannot be bothered with that ever again but good luck to you. With all the properties being utilized that way, I am surprised that so many houses find tenants.

[Twimom]

Hello, my wife and I are closing on a house in July. We are both teachers and have signed teaching contracts for this upcoming year, so we cannot move to TV until next summer. We hope to rent out our property until we can move here permanently and need help doing this. Is it better to hire a property management company or list it ourselves and then hire services to clean and take care of lawn care for us? Any suggestions or recommendations are greatly appreciated! Thanks!!


We just built a new home in February and used Rent From A Villager to do a long term unfurnished rental. We got a lovely couple who we now call friends who are also looking to build in the Villages. I also refuse to do short term rentals. We're from the northeast and get our lawn care done for us by Dean's. Tenant pays us for internet, electric and gas. We spent a week at closing on our new home and got to know our neighbors who have volunteered to keep an eye on our house. It's been a great experience so far. For us, we tried to get to know our renters as best we could prior to renting and of course did an experian background check.

[fflmaster]

We just built a new home in February and used Rent From A Villager to do a long term unfurnished rental. We got a lovely couple who we now call friends who are also looking to build in the Villages. I also refuse to do short term rentals. We're from the northeast and get our lawn care done for us by Dean's. Tenant pays us for internet, electric and gas. We spent a week at closing on our new home and got to know our neighbors who have volunteered to keep an eye on our house. It's been a great experience so far. For us, we tried to get to know our renters as best we could prior to renting and of course did an experian background check.

Did you purchase in full or have a mortgage? Also, is the rental plus internet and electric covering all your expenses?

My wife and I may be interested in purchasing now, but renting out for a few years until we can retire.

[Moderator]

Reminder:

Users are prohibited from directing comments toward another user.

Instead, please direct your comments to the relevant topic.

[retiredguy123]

Did you purchase in full or have a mortgage? Also, is the rental plus internet and electric covering all your expenses?

My wife and I may be interested in purchasing now, but renting out for a few years until we can retire.
Just a suggestion, but I would rethink the idea to purchase a house a few years before moving to The Villages. It will be a hassle to rent it out and you could even lose money in the end.

Do the math and don't forget the lost investment income, the higher insurance rate for rental property, the higher property tax because you cannot claim a homestead exemption, and the Federal income tax you will pay if you do show a profit and if the house increases in value.

[thelegges]

Have to ask those who are so Negative about buying prior to retirement, did you go this route and have financial failure?

We bought multiple homes in TV and rented long term, before we retired with none of the issues posters are saying not to buy/rent before retirement.

I would like to see Posters give there actual experience of gloom and doom from renting. Opinions are nice, but give zero value for OPs questions.

I know there are multiple posters who have given positive help on TV rentals. But rarely such negative comments.

[Marmaduke]

A one year tenant isn't that difficult and if the OP wants to make really good money without tying up the home for the year, rent it seasonally. You have to remember some people providing advice for your question don't like renters and will make doing so look extremely difficult.

There are many people with rental properties in TV's and I hope they respond shortly with some good insight for you.:coolsmiley:
Well, I can tell you that I have no interest in renting after watching the hassles that our neighbors are going through.

They have the Mgt company and barely get rentals, that's the first thing. Very nice houses and Location.

They found out the hard way that they can't afford both houses, an extremely costly rental mgt company and 1 day tenants. They are at their wits end.
I think it's the Management Companies, (who shall both remain Nameless!!) but,in both cases, we're right here and watching the house sit vacant.... for months and the owners bedding the revenue.

Not a position I'd want to be in while living far away.

[Marmaduke]

Well, I can tell you that I have no interest in renting after watching the hassles that our neighbors are going through.

They have the Mgt company and barely get rentals, that's the first thing. Very nice houses and Location.

They found out the hard way that they can't afford both houses, an extremely costly rental mgt company and 1 day tenants. They are at their wits end.
I think it's the Management Companies, (who shall both remain Nameless!!) but,in both cases, we're right here and watching the house sit vacant.... for months and the owners bedding the revenue.

Not a position I'd want to be in while living far away.
To clarify, they are taking what they can get, 1 and 2 day rentals. They want, need long term. They NEED the revenue, and are both ready to sell... in a horrible market for sellers.

[sklmarm55]

I've been in this situation as well. My brother used three different management companies here in TV. The bad stories you are hearing about are true. When we rented I did it all myself. I also take care of the maintenance as well which is usually minor. I can help you with more specifics but difficult to do on this website as I don't see a way to send you a private message. Maybe others reading your post can help me contact you directly.Hello, my wife and I are closing on a house in July. We are both teachers and have signed teaching contracts for this upcoming year, so we cannot move to TV until next summer. We hope to rent out our property until we can move here permanently and need help doing this. Is it better to hire a property management company or list it ourselves and then hire services to clean and take care of lawn care for us? Any suggestions or recommendations are greatly appreciated! Thanks!!

[retiredguy123]

Have to ask those who are so Negative about buying prior to retirement, did you go this route and have financial failure?

We bought multiple homes in TV and rented long term, before we retired with none of the issues posters are saying not to buy/rent before retirement.

I would like to see Posters give there actual experience of gloom and doom from renting. Opinions are nice, but give zero value for OPs questions.

I know there are multiple posters who have given positive help on TV rentals. But rarely such negative comments.
I try to not be negative when posting, unless it is warranted. I have been a landlord and I have done financial planning. If you depend on a management company to do most or all of the work, it is very difficult to make a profit. Most landlords, who make money, do it because the property increases in value beyond normal inflation, not from collecting rent. Also, some landlords do not know how to do the math, and they only think they are making money because they may have a positive cash flow. But it doesn't work that way. If you can make a 5 percent return with a bond investment and a 5 percent return by being a landlord, you should not be a landlord. Another mistake new landlords make is that they assume the property will be rented 100 percent of the time and the tenants will be good people who will always pay the rent and take good care of the property. Personally, I think that buying a house in The Villages a few years prior to retirement and renting it out is a bad idea, especially if you are not an experienced landlord. The developer is still building new houses and there will be a stable supply and demand for houses for many more years.

[fflmaster]

I try to not be negative when posting, unless it is warranted. I have been a landlord and I have done financial planning. If you depend on a management company to do most or all of the work, it is very difficult to make a profit. Most landlords, who make money, do it because the property increases in value beyond normal inflation, not from collecting rent. Also, some landlords do not know how to do the math, and they only think they are making money because they may have a positive cash flow. But it doesn't work that way. If you can make a 5 percent return with a bond investment and a 5 percent return by being a landlord, you should not be a landlord. Another mistake new landlords make is that they assume the property will be rented 100 percent of the time and the tenants will be good people who will always pay the rent and take good care of the property. Personally, I think that buying a house in The Villages a few years prior to retirement and renting it out is a bad idea, especially if you are not an experienced landlord. The developer is still building new houses and there will be a stable supply and demand for houses for many more years.

Just thinking this thru

If I was making the same net via rental on a house that is virtually guaranteed to increase over enough time and leaving my money in the bond, I would take the property every day of the year.

Second part, the villages may be building new properties for the next 20 years. But, will they be exactly where someone may want to be? Or will they be in the correct price range? What if the housing starts to increase? I know you don’t think it will. You could be right or we could see a jump in prices 2027/28. We only know what pricing is today. I know in my area home pricing continues to increase in value year after year. Even in today’s market.

[retiredguy123]

Just thinking this thru

If I was making the same net via rental on a house that is virtually guaranteed to increase over enough time and leaving my money in the bond, I would take the property every day of the year.

Second part, the villages may be building new properties for the next 20 years. But, will they be exactly where someone may want to be? Or will they be in the correct price range? What if the housing starts to increase? I know you don’t think it will. You could be right or we could see a jump in prices 2027/28. We only know what pricing is today. I know in my area home pricing continues to increase in value year after year. Even in today’s market.
Maybe I didn't make it clear that my example of a 5 percent return included selling both the bond and the rental house at the end of a specified time period and then calculating the total return on both investments. If you only make 5 percent per year on the rental house, all of your work effort and risk was wasted. But some people will consider the rental house to be a success.

[CoachKandSportsguy]

Maybe I didn't make it clear that my example of a 5 percent return included selling both the bond and the rental house at the end of a specified time period and then calculating the total return on both investments. If you only make 5 percent per year on the rental house, all of your work effort and risk was wasted. But some people will consider the rental house to be a success.

The key to making more than general inflation is to increase price 1-2% higher than inflation, and the expenses go up at the rate of inflation. . . that builds economic value. .

BUT when your rent is about 10% higher than competing rents in several years, tenants will revolt. .

The other way to look at the decision value is with a discounted cash flow analysis, and see if the gain on the sale of the house after 5% per year exceeds your cost of capital, which is a dependent formula. RE guys shorten this calc and call it cap rate, which is the purchase cost per square foot. If too high, won't make money, if too low, great as long as you know why the caprate is so low. . (the cap assumes alot of long term cost and income assumptions though)

[OrangeBlossomBaby]

It looks to me like some posters are responding to an unasked question. "I want to profit from renting my property out for the first year after buying it. Please advise."

That isn't what the OP was asking, at all, even a little bit. The actual question is: "We don't take occupancy until next year, so we want to rent it out for the first year. Please advise."

They want expenses covered by someone else for the first year, while they're not living in it. They didn't even mention the word "profit" in their OP. They don't need to worry about profiting, this isn't an investment property. It will be their retirement home - next year. Between now and then, they'd like to see it occupied, and recoup some of the expense of buying the thing.

[retiredguy123]

It looks to me like some posters are responding to an unasked question. "I want to profit from renting my property out for the first year after buying it. Please advise."

That isn't what the OP was asking, at all, even a little bit. The actual question is: "We don't take occupancy until next year, so we want to rent it out for the first year. Please advise."

They want expenses covered by someone else for the first year, while they're not living in it. They didn't even mention the word "profit" in their OP. They don't need to worry about profiting, this isn't an investment property. It will be their retirement home - next year. Between now and then, they'd like to see it occupied, and recoup some of the expense of buying the thing.
I agree, but my initial advice was to not rent out the property at all. If they had not already purchased the house, I would have recommended that they wait until they are ready to retire to buy.

[johnblackwell]

I think it will be difficult to find a good tenant who wants to rent an unfurnished house and then move out in a year.
We were fairly sure we wanted to retire here, but TV is so large we were concerned we would find ourselves irritatingly far from the places we went to most frequently. Renting, we found that the rec centers we visited most frequently were Miona and Seabreeze, so that's where we bought.
We could have rented furnished or unfurnished, but our landlords had furnished it, so we put our stuff in storage for a year. We had previously lived in a big house, so we also deliberately rented a somewhat smaller house than we expected to buy, just to see where we needed more space.
This worked really well for us, so it would not surprise me to find others planning to do the same. Perhaps someone reading this has friends considering moving here and would put them in touch with you.

[BrianL99]

The other way to look at the decision value is with a discounted cash flow analysis, and see if the gain on the sale of the house after 5% per year exceeds your cost of capital, which is a dependent formula. RE guys shorten this calc and call it cap rate, which is the purchase cost per square foot. If too high, won't make money, if too low, great as long as you know why the caprate is so low. . (the cap assumes alot of long term cost and income assumptions though)

People on TOTV and in The Villages in general, seem intent on considering The Villages market (both sales & rentals) as a "one of a kind market".

It is not. It is a real estate market that's no different than any place else. It's driven by supply & demand. It's a market that can be somewhat skewed by the presence of "the Developer", but TV is now big enough that the Developer's influence is increasingly less defining.

We're in a declining real estate market. Sales are slow, prices are softening and the exact same thing applies to the rental market. The rental market and the sales market, seldom operate independently or contrary to one another.

Right now, a CAP rate of 7%-%8 isn't bad for an investor ... 5%-6% is good for an amateur.

Right now, I don't see how buying and renting a new home in TV gets you more than about 2%-3% max ... more likely, it's a loss.

As you point out, you can look at rentals differently if "profit" isn't your goal and one is only looking at cash flow balance.

As in every market, things change, but right now doesn't seem like an opportune time to be buying new in TV and thinking when you retire in 10 years, you're going to have a "free retirement home" that'a appreciated 200%.

[retiredguy123]

People on TOTV and in The Villages in general, seem intent on considering The Villages market (both sales & rentals) as a "one of a kind market".

It is not. It is a real estate market that's no different than any place else. It's driven by supply & demand. It's a market that can be somewhat skewed by the presence of "the Developer", but TV is now big enough that the Developer's influence is increasingly less defining.

We're in a declining real estate market. Sales are slow, prices are softening and the exact same thing applies to the rental market. The rental market and the sales market, seldom operate independently or contrary to one another.

Right now, a CAP rate of 7%-%8 isn't bad for an investor ... 5%-6% is good for an amateur.

Right now, I don't see how buying and renting a new home in TV gets you more than about 2%-3% max ... more likely, it's a loss.

As you point out, you can look at rentals differently if "profit" isn't your goal and one is only looking at cash flow balance.

As in every market, things change, but right now doesn't seem like an opportune time to be buying new in TV and thinking when you retire in 10 years, you're going to have a "free retirement home" that'a appreciated 200%.
I would take issue with your second paragraph that the developer's influence is becoming less defining. Currently, The Villages sells about 3,000 new houses per year as compared to the resale market of about 800. And, the developer is large enough that they can control the supply and pricing of houses in The Villages. I would not call The Villages a one-of-a-kind market, but the availability of new houses constructed by a large developer is somewhat unique when compared with other housing markets. I would not refer to it as being no different than any place else.

[OrangeBlossomBaby]

I agree, but my initial advice was to not rent out the property at all. If they had not already purchased the house, I would have recommended that they wait until they are ready to retire to buy.

I look at it from a resident's point of view, the perspective of that new buyer's next door neighbor who lives here all year 'round. What would I like to see happen to the house next door, for the next year?

I'd like to see it legally occupied by someone or a couple someones who respect the property and respect the neighborhood. Barring that, I'd like the neighbor to give me permission to keep my car parked in their carport when I'm not driving it, since right now it bakes in the sun. Plus, having a vehicle on the property gives the impression that the property is occupied. That makes it safer, and less likely to be broken in to, squatted, or otherwise abused.

[darkim]

We have a rental unit with **** and a 28-day minimum for peak season (Jan - Apr). These always rent a minimum of 12-14 months in advance, but we’ve had late cancellations and thought we might lose that month, but I believe if you list it before September…there’s a really good chance you’ll have it booked within a few weeks. Our rental is in The Village of Pinellas which is a prime rental location

[CarolY]

Hello, my wife and I are closing on a house in July. We are both teachers and have signed teaching contracts for this upcoming year, so we cannot move to TV until next summer. We hope to rent out our property until we can move here permanently and need help doing this. Is it better to hire a property management company or list it ourselves and then hire services to clean and take care of lawn care for us? Any suggestions or recommendations are greatly appreciated! Thanks!!


I have a house that I have rented yearly unfurnished since 2015. There are a lot of people looking for one year unfurnished to take time to assess the community they want to live in. I advertise on villagers homes for rent. Com and manage it myself. Don’t listen to the naysayers. There are a lot of people looking for a one year rental. I would not rent seasonal. It is a lot of hassle and you need to furnish it.

[Normal]

Renting your home out may not win you the social popularity award from your permanent neighborhood ilk.

[DrMack]

Renting your home out may not win you the social popularity award from your permanent neighborhood ilk.

No one wants a rental as a neighbor.

[thelegges]

Renting your home out may not win you the social popularity award from your permanent neighborhood ilk.

A new village always has an abundance of rental homes for the first couple of years. Or that was our observation since 2004. In fact the developer encouraged this avenue of buying when our families came in 2002. Using their rental pool for lifestyle visits long before the developers started their own neighborhood lifestyle areas.

Do .you remember when the developers sent limos to pick you up at the airport for your lifestyle

[Normal]

A new village always has an abundance of rental homes for the first couple of years. Or that was our observation since 2004. In fact the developer encouraged this avenue of buying when our families came in 2002. Using their rental pool for lifestyle visits long before the developers started their own neighborhood lifestyle areas.

Do .you remember when the developers sent limos to pick you up at the airport for your lifestyle

What about the Village Dollars you could spend at Spanish Springs?

[TMHwestford]

No one wants a rental as a neighbor.
Playing the odds you would probably be better off not having a rental next door but you have no control over who lives next to you renter or owner and I'd say it's just as likely that you don't like the owner next door as the renter. My next door neighbor is a long term renter and I can't imagine a better neighbor. There are also two other long term rentals in our CYV neighborhood that I know of and there's been issue with either.

[DrMack]

Playing the odds you would probably be better off not having a rental next door but you have no control over who lives next to you renter or owner and I'd say it's just as likely that you don't like the owner next door as the renter.

Just like in gambling, you can win, eventually though you will lose if you don’t walk away. We have had good and we have had bad. One tenant we have blacklisted caused too much damage to the home. Broken floor tiles, a rug we had to replace a drywaller and painter were needed. The good have created lasting memories, the bad, scars physically for years to come.

[PJOHNS2654]

Thanks for the info. I too am a new Land Lord here. Can you tell me if a golf cart is included in your rental and where to find a Liability Waiver for golf cart used by Tennant? I have advertised on this site and also Rent From A Villager.

Thank You.

[retiredguy123]

Thanks for the info. I too am a new Land Lord here. Can you tell me if a golf cart is included in your rental and where to find a Liability Waiver for golf cart used by Tennant? I have advertised on this site and also Rent From A Villager.

Thank You.
There are other threads on this topic. Do a search. Basically, there is no way for an owner/landlord to avoid the liability for an accident caused by a tenant. A waiver is worthless. The best thing to do is to not allow a tenant to use your golf cart.