[Daddymac]

So you want “THE BEST MONTHS” for yourself!! So no, it will not pay for itself. Remember you have 5000 other people looking to rent at the same time, “The off months”. Just something to think about, Don’t let people bull$hit you… If you don’t have the extra $$$$ to hold the house, Don’t do it…

[BrianL99]

Originally Posted by Normal

Airbnb is being sued by multiple agencies. There isn’t any clear place where everything will land because there are so many suits. They have been flooding Florida campaigns with cash. I’m not sure where it will get them.

AirBnB is winning all over the country. Read one of the VCA's they negotiated. The cities, towns, counties got virtually nothing from AirBnB and many are trying to void the VCA's.

AirBnb has lawsuits going against numerous cities & states and have been dumping millions into fighting against any regulation or attempt to make them collect taxes and insure advertised rentals, meet local ordinances.

RIght now, their huge advantage, is the taxing authorities, can't afford to fight them. If the IRS opts to wade into the battle, that could change the dynamic. No one beats the IRS.

As of right now, AirBnB vs the USA & State Zoning Regulations, is like Uber vs Taxi companies on steroids. We all know who won the Uber/Taxi battle.

[Jalane]

FYI -Villagers north of 44 will likely tell you to buy a short-term rental south of 44 and vice-versa because everyone hates them for various reasons. If you must rent but want to keep your neighbors happy, 1yr leases are the only way to go.

[Papa_lecki]

I would be worried that any local government at any time can ban short term rentals. It can happen in any of the cities TV is in, i.e. Leesburg.

It can happen on a whim. Coronado, California banned STR and the enforcement is tough. In TV, you know neighbors will report STR if they are banned.

So be prepared to support the property without rentals.

If you think it can’t happen or won’t happen? All it takes is one election.

[Normal]

Originally Posted by Papa_lecki

I would be worried that any local government at any time can ban short term rentals. It can happen in any of the cities TV is in, i.e. Leesburg.

It can happen on a whim. Coronado, California banned STR and the enforcement is tough. In TV, you know neighbors will report STR if they are banned.

So be prepared to support the property without rentals.

If you think it can’t happen or won’t happen? All it takes is one election.

Or a couple nice hotel chains who scatter cash. Wildwood is building a pickleball court with a nice 120 room luxury hotel. The pickleball court is on four acres are part of an 18-acre project expected to include a 120-room hotel, 70 pickleball courts, 21,250 square feet of retail space, 10,000 square feet of restaurant space and 5,000 square feet of office space. It’s located directly behind the Village of Lake Deaton near the Baker House.

[Villager2be]

Originally Posted by Raywatkins

We are Brits - so can only stay in the US for 6 months each year. We started out along the lines of trying to cover our costs through renting year round when we were not staying.
Eventually we realised that we were getting around 80% of our costs covered from about 3 rentals per year. The first was the Jan thru March period (high season). It’s seems just now you can charge just about what you want and get someone to pay. But a word of caution, our home is situated mid way between Lake Sumter and Spanish Springs. So our success rate may be through location.
The second rental is for April.
These two periods are now regular returners so no great concern over their looking after the house properly.
The third rental is over Xmas but ending no later than 30th Dec.
We did get enough rental income during the summer, but they were all short term (normally a week). They were the least tidy, caused most damage and gave us the most headaches.
We have come to realise that over the 8 years we have owned our home, the value of the house has increased, each year, by far more than the annual costs.
We are fortunate that our income and savings/investments, allow us to take the hit on lower rentals. We also realised that our costs were lower as a result, and over the last couple of years we have only had to cover around 10-12% of the yearly costs. For us that’s about $3000 per year.
So, best advice we can give is to think about location, starting with where you want to be. Then see what rentals might be possible, by looking at the nearest developed area and what other renters are charging. You can do that by going on the various sites and looking at rates in those areas.
Once you have a fix on the possible rates at various times of the year, for the nearest locations, you can work on your costs. Don’t just take what The Villages say in their blurb. We found lots of other costs were necessary.
Then plan your strategy.
If you want to know more - DM me. Happy to help.
Ray

This is really helpful Ray, thank you very much. I will DM you, just had a couple of follow-up questions

[BrianL99]

Originally Posted by Papa_lecki

I would be worried that any local government at any time can ban short term rentals. It can happen in any of the cities TV is in, i.e. Leesburg.

.

Florida law prohibits cities & counties from banning STR's. There's zero chance of it happening in Leesburg or anywhere else, that didn't have the law on the books, prior to Florida adopting the original legislation in 2011.

[Villager2be]

Originally Posted by Daddymac

So you want “THE BEST MONTHS” for yourself!! So no, it will not pay for itself. Remember you have 5000 other people looking to rent at the same time, “The off months”. Just something to think about, Don’t let people bull$hit you… If you don’t have the extra $$$$ to hold the house, Don’t do it…

Yes, the main reason for the purchase is to have an alternative to paying rent as snowbirds, initially live there for at least 2 months, and increase that gradually over time, maybe eventually become near 100% residents if we love it as much as we expect to. We don't want to just pay rent and watch as prices appreciate every year. We can afford the full carrying costs without any rental income but it will make a dent in discretionary spending if I had to carry the full load of a 2nd home and not offset it with any rent, and otherwise keep it empty (which also seems like a waste). It is also cash that we are taking out of other investments so it would be nice to break even to help justify that decision, as well as to help cushion short term depreciation risk.

[Normal]

Originally Posted by BrianL99

Florida law prohibits cities & counties from banning STR's. There's zero chance of it happening in Leesburg or anywhere else, that didn't have the law on the books, prior to Florida adopting the original legislation in 2011.

They can’t ban, but they can manage and regulate. Rental periods are unapproachable, but city codes can stipulate on site residence of management, fire codes etc. Where there is a will, there certainly is a way.

I found this article interesting on a new AI approach to busting and fining those not compliant with laws. Those who tried to skirt laws will find it much more difficult if they aren’t registered and paying every dime in taxes. Isn’t technology grand…
Here’s how AI can help find illegal short-term rentals in Central Florida

[Villager2be]

Originally Posted by Normal

Airbnb is being sued by multiple agencies. There isn’t any clear place where everything will land because there are so many suits. They have been flooding Florida campaigns with cash. I’m not sure where it will get them.

I am by no means an expert, but I would imagine that TV would be a very different place (and not necessarily better), if STRs got banned. What will that do to property values? Many snowbirds and snowflakes could either be forced to sell, or just choose to sell, and many of your future snowbird/flake buyers and investors would no longer be interested in buying. Not to mention all of the snowbird renters who would no longer be able to stay short term. There go your crowds, for better or worse, and the huge influx of money they bring to the area, and a ton of participants for all the activities, I imagine a lot of what makes TV such a vibrant and wonderful place. Maybe I am wrong but just saying IMHO, be careful what you wish for... it could have a huge unintended impact.

[BrianL99]

Originally Posted by Normal

They can’t ban, but they can manage and regulate. Rental periods are unapproachable, but city codes can stipulate on site residence of management, fire codes etc. Where there is a will, there certainly is a way.

I found this article interesting on a new AI approach to busting and fining those not compliant with laws. Those who tried to skirt laws will find it much more difficult if they aren’t registered and paying every dime in taxes. Isn’t technology grand…
Here’s how AI can help find illegal short-term rentals in Central Florida

It's an interesting concept, but somewhat misleading. AirBnB does not collect hotel/accommodation/vacation taxes in all jurisdiction. They only collect in areas in which they have VCA's in place. Not only that, but AirBnB has is constantly changing its platform, to make it more difficult for 3rd party vendors, to track locations. If you'll notice, the vast majority of AirBnB listing, no longer contain and address. This is a conscious decision by AirBnB to thwart programs like the one described.

It's a battle that's going to play out over the next few years, but given how much money AirBnB has committed to the battle and how much their spending to elect friendly legislators, they have the upper hand, so far.

[Dusty_Star]

Originally Posted by Villager2be

I am by no means an expert, but I would imagine that TV would be a very different place (and not necessarily better), if STRs got banned. What will that do to property values? Many snowbirds and snowflakes could either be forced to sell, or just choose to sell, and many of your future snowbird/flake buyers and investors would no longer be interested in buying. Not to mention all of the snowbird renters who would no longer be able to stay short term. There go your crowds, for better or worse, and the huge influx of money they bring to the area, and a ton of participants for all the activities, I imagine a lot of what makes TV such a vibrant and wonderful place. Maybe I am wrong but just saying IMHO, be careful what you wish for... it could have a huge unintended impact.

Do you have any evidence at all for your imagination of The Villages? Hopefully some snowbirds will contribute, but of the snowbirds I know personally & I know quite a few, they spend the winter months here in Florida & those months vary depending on the people but generally late fall to early spring, then they close up their house & travel to their house up north. No unintended impacts. It is quieter here in the lovely summer months & busier in the lovely winter months. I'm fond of our snowbirds & look forward to seeing them return in the fall.

[Papa_lecki]

Originally Posted by BrianL99

Florida law prohibits cities & counties from banning STR's. There's zero chance of it happening in Leesburg or anywhere else, that didn't have the law on the books, prior to Florida adopting the original legislation in 2011.

Florida Senate approves vacation rental regulations as websites like Airbnb, **** become more popular

2/1/24…

Short-term vacation homes are closer to having new rules. The Florida Senate approved a proposal Thursday putting new regulations for vacation rentals.

[Villager2be]

Originally Posted by Dusty_Star

Do you have any evidence at all for your imagination of The Villages? Hopefully some snowbirds will contribute, but of the snowbirds I know personally & I know quite a few, they spend the winter months here in Florida & those months vary depending on the people but generally late fall to early spring, then they close up their house & travel to their house up north. No unintended impacts. It is quieter here in the lovely summer months & busier in the lovely winter months. I'm fond of our snowbirds & look forward to seeing them return in the fall.

Just look at all the replies from owners and investors in this thread and many others who say they have had many rentals and continue to rent... search the Villages on Airbnb now across all dates and see how many there are out there. What will happen if the rules are changed for them in the middle of the game and for others who had planned to buy (or buy more) and do the same? I agree that none of us has those numbers or can 100% foresee the true impact; but some impact, surely there has to be, great or small. All I am saying is that a STR ban would not be a risk I would be willing to take if I am generally content with the current state of my Villages, whether I am full time or not, err on the side of caution. It is a formula for success (as everyone here has to admit) and I would not mess with it.

[BrianL99]

Originally Posted by Papa_lecki

Florida Senate approves vacation rental regulations as websites like Airbnb, **** become more popular

2/1/24…

Short-term vacation homes are closer to having new rules. The Florida Senate approved a proposal Thursday putting new regulations for vacation rentals.

The bill that was passed, merely gives locals the ability to identify and impose some standards. It doesn't give them any more right to control the availability or duration of short term rentals. If I'm not mistaken, similar legislation has been passed by the FL Senate almost every year and then gets bogged down in the House.

In the past, DeSantis has said he'll veto any such regulations. I'd be surprised if it makes to law, as Florida has such dependency on vacation rentals.