[ElDiabloJoe]

Originally Posted by BrianL99

That's great. The Villages needs more Short Term Rentals. It's wonderful for the neighborhoods. At least it's in the South, so no one really cares if there's another STR down there.

I assume this was stated with tongue firmly planted in cheek.

[CoachKandSportsguy]

Originally Posted by Packer Fan

So I read through this and there is some good info and some bad. I have had 2 rentals for 10 years so I know what I am talking about. It’s pretty simple - when designers were selling for $250 and Patio villas for $180k, mortgages were 3.5%, and bonds paid nothing, it made some sense to buy a rental in TV as a diversifier to your portfolio. However, at current prices with mortgages at 7% and bonds paying 4-5% it makes no sense. Also, there are a lot more rentals now. Lastly for you - without renting out Jan-March you will lose money big time. Aa an example - high season rents form $5900 a month. Summer rents for about $1800. You MIGHT get about $3000 for Nov-Dec but Eastport area? No way. Put the $300k in bonds and use the $12000 you get per year to rent. Trust me, you will be better off. My rentals are paid for and I am moving into one and selling the other.

correct answer in my opinion

[Villager2be]

Originally Posted by jarodrig

By “short term rentals “ I hope you don’t mean the ABnB overnight or weekly rentals !!

If that’s the case , be prepared to NOT make friends within the neighborhood !!

I would suggest you also join the NextDoor forum and do some searches to see what the consensus is with that type of rental property !!

I had not determined the best renting approach yet for our situation, but it is good to know that weekly rentals have such a bad rap here. We have done weeklies back home for a several years already and have never had a bad experience that impacted our neighbors (if anything, something inside the house got damaged). We did a weekly rental for our stay this year and the place was immaculate in and out, I just presumed that most short term guests would be senior couples who respect our place like we respect others places (more or less). Is it really that bad or have a a couple of bad apples soured everyone to this way of thinking?

[BrianL99]

Originally Posted by Villager2be

I had not determined the best renting approach yet for our situation, but it is good to know that weekly rentals have such a bad rap here. We have done weeklies back home for a several years already and have never had a bad experience that impacted our neighbors (if anything, something inside the house got damaged). We did a weekly rental for our stay this year and the place was immaculate in and out, I just presumed that most short term guests would be senior couples who respect our place like we respect others places (more or less). Is it really that bad or have a a couple of bad apples soured everyone to this way of thinking?

Just because you're not aware of any impact your "weekly rentals" have had on neighbors, doesn't mean there wasn't impact. Personally, I wouldn't by a home that was abutted in any way, by a home/unit that I knew was used as a STR. That's impact, whether you acknowledge it or not.

Short Term Rentals have no place in a residential zoned neighborhood, in my opinion. The Villages is not regulating them in any way and (& won't, because it works to their benefit) and current Florida Law makes it almost impossible for a city or county to regulate them.


In general, they (STR's) de-stabilize neighborhoods and put increased burden on the infrastructure and in the case of The Villages, the amenities.

Just my opinion, everyone else's mileage may vary.

[CoachKandSportsguy]

Originally Posted by Villager2be

I just presumed that most short term guests would be senior couples who respect our place like we respect others places (more or less). Is it really that bad or have a couple of bad apples soured everyone to this way of thinking?

This is where your customer based business plan identifies the customer base, and the drivers.

What's the biggest draw to FL? Orlando and the entertainment parks. If you are looking for a cheap version of rentals for school vacation and still get to Orlando for a day or two and have access to pools, etc. . is TV competitive? a viable alternative with lower affordable accomodations to renting hotels in Orlando?

of the rentals we have, there are two major categories:
1) retired couples looking for their retirement house, or waiting on building completion
2) younger generation visiting grandparents with children. . .

The third category, we haven't had any, are school vacation types, wanna get away by SWA to FL . .

Friend of ours had one of these in NH, and threatened to call their higher education institution about their college visa for all the damage done if they didn't pay. .

[shaw8700@outlook.com]

In my current HOA, they had a vote last on year on whether to get rid of STRs. This year we have seen a significant slow down, and lots of houses slashing their prices. Even the condos, which normally sell very quickly are sitting.

Now, I’m not saying that getting rid of STRs is the reason, probably the rise in interest rates has something to do with it, but we rented four different houses over three years for one/two weeks while we got to know this area, and if not for STRs we would’ve never had that chance.

[BigDawgInLakeDenham]

Let us know where you buy so all the dogs can sh!t on your lawn. That way you'll be like the rest of us even though you're not actually here. Best wishes

[MrChip72]

Originally Posted by Villager2be

1. Does one of these models make for a better short term rental place, i.e. does one typically provide a better return on investment?
2. Is there decent enough demand in the March through December period or does supply greatly outweigh demand? Is it realistic to think we should be able to break even?
3. Do you get a good return on the added purchase cost of a 3rd bedroom, or most short term renters don't need the 3rd bedroom, i.e. 3/2s rent for similar $ as 2/2s?

We are going into our third year as Villagers. We are "snowflakes", meaning we go back and forth throughout the year but we do rent out our place during certain months like Feb-March where you get top dollar compared to the other months. That alone covers around 75% of our annual costs.

1. Designers are by far the most popular for non-short term rentals, like renting a month or two at a time. Also, I would highly recommend against offering short term rentals that are under a month. You will not make that much money due to fees going to AirBnb/****, plus your neighbors will all despise you. Personally, we value our neighbors and don't want them to feel like they live next door to a hotel. You get a VERY different type of renter from AirBnb vs sites like Rent from a Villager.

2. The easiest to rent are Feb/March. April and May you can get some interest if you're priced right and have a nicely furnished place. June-Nov is a crapshoot in getting any renters at all.

3. A 3 bedroom you're getting slightly higher rent but probably not enough to say the 3 bedroom is more "profitable", although the higher the price, you're generally getting a more desirable renter than someone that's trying to rent at a bargain basement price.

I would also caution against using a management company. Many charge 25-30% or more and you're at the mercy of them finding renters for you, some try less hard than others. Some try to rent your place without you knowing so that they can pocket 100% of the rent. I belong to a Villages Landlord group, and almost every anecdote I get from talking to other landlords that have used management companies in the past is very bad.

[MrChip72]

Originally Posted by Packer Fan

Aa an example - high season rents form $5900 a month. Summer rents for about $1800. You MIGHT get about $3000 for Nov-Dec but Eastport area? No way.

Eastport area is likely to become one of the prime areas. It seems likely to be the best Square out of all of the existing ones. Aside from that, I'm south of the turnpike and we get $3000 for Nov or Dec. $6500 for each the prime months. I'm sure Eastport designer homes will get more than that once it's completed.

I agree though that as a pure investment, there's several better options than buying a home in the Villages just to rent out.

[Sandy and Ed]

Originally Posted by BrianL99

That's great. The Villages needs more Short Term Rentals. It's wonderful for the neighborhoods. At least it's in the South, so no one really cares if there's another STR down there.

Thank you for saying that. Who would want to encourage a hyper-transient community. Place is becoming a ghost town out of season as it is.
Carpetbaggers!!

[Sandy and Ed]

Originally Posted by Bitsee

Agreed !

But not one person yet has mentioned the demeanor of the tenants that you will be subjected too as a tentative landlord.
We have had 5 rental homes in TV since 2008 and have been in the rental business for 35 years in Wisconsin as well.
Overall it has been just okay but by no means did we get " rich " in the TV rental game believe me. We were extremely lucky to have broken even for the most part.

Some tenants did do damage to our homes...red wine spilled on new carpeting and furniture, cigarette burns in our furniture, items stolen from the house, dents in the garage door, excess company on thier part filled the house and parked illegally in the neighbor driveways , dog poop left all over the yard, and constant partying day and night just to name a few considerations you may encounter...needless to say the neighbors there were not fond of us many times and they let us know it.

Overall, the big picture.. it really is not worth the expense and the headaches involved in my opinion thru our experiences.

Eastport is going to be a beautiful area to live, my suggestion is buy your dream home there and YOU live in it and enjoy it !
If you want to rent it out to just friends you know or family to enjoy, that also is an option.

Amen. We wa owned three rental condo’s in Smithville NJ just outside Atlantic City. Renters paid them off for us and yes we made some good money over all but factor in all the headaches and the turnover due to AC market, we might as well have broken even. Buy your home and enjoy life here. Forget about chasing the $$$$$

[LuvNH]

If you really want to have your home trashed try renting to spring breakers for the month of March. I have rented on the beach and seen spring break in full swing, and I believe it is starting to happen here.

[Normal]

From an investor’s point of view, buy when prices are low. They certainly are nowhere close to bottom here yet. Real estate is all about timing, location and risk exposure.


Even money markets are safer than real estate right now.

[CarlR33]

Originally Posted by BrianL99

Just because you're not aware of any impact your "weekly rentals" have had on neighbors, doesn't mean there wasn't impact. Personally, I wouldn't by a home that was abutted in any way, by a home/unit that I knew was used as a STR. That's impact, whether you acknowledge it or not.

Short Term Rentals have no place in a residential zoned neighborhood, in my opinion. The Villages is not regulating them in any way and (& won't, because it works to their benefit) and current Florida Law makes it almost impossible for a city or county to regulate them.


In general, they (STR's) de-stabilize neighborhoods and put increased burden on the infrastructure and in the case of The Villages, the amenities.

Just my opinion, everyone else's mileage may vary.

It’s on some HOA’s radar outside of TV as our Midwest HOA wanted us to consider amending the Bilaws against rentals.

[Normal]

Originally Posted by CarlR33

It’s on some HOA’s radar outside of TV as our Midwest HOA wanted us to consider amending the Bilaws against rentals.

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.