Rentals increasing?
 

Rentals
 

Yes it is increasing yearly.

It appeared that way to me also. We are currently renting in The Palms here on Islamorada and this complex of condos is 70% rentals!

No one knows for sure, but you will be given definitive answers and controversy will begin.


It is a beautiful day in The Villages. We own, rented while this house was being built. No rentals in our Village.

In less than a year of selling our first home in TV, the neighborhood has had 13 homes up for sale due to a death, or move to facility. All 13 homes are now rentals.

So do rentals effect values?

It didn't when we sold first, if I had to sell this house the value has gone up more than any other part of the US

I built my Villages home in 2012 and it has been an unfurnished, long-term rental since day 1. I would be in my home now except my 91 year old mother doesn't want to live in The Villages full time. She would do it if I really pushed it!

My property manager tells me that there are more and more rentals on the market. I am still in contact with my Village realtor who helped me pick my lot and was at my design team meetings. He says many baby boomers are buying their Village home and renting them out. They are afraid if they wait that they may be priced out of the market. He has called me several times with a potential buyer on the phone so I can tell them my rental experience and they can ask me questions.

Notice the rental prices have also increased.

More rentals that are not 100% occupied 12 months a year but still paying amenity fees keeping the cost lower overall for everyone else = a good thing. If every house was occupied with a full time resident can you imagine the complaining by people who think it's too crowded already? :smiley:

I agree!
 

:agree:

I have a 2 bedroom 2 bath, 1100 s.f. home that I rent out in the high season. The monthly rental prices in the high season have gone up quick a bit over the past 5 years. My house use to rent for $2150 a month and I can easily get $2600 plus 11% sales tax. I advertised my house in the Villages on several websites, and I get hundreds of requests for Jan/Feb/March. There seems to be more people that want to rent, then the supply. I could easily get a lot more rent per month, than I currently get, judging from the requests I get.

Our home is only 2 years old here in TV. We were one of the first ones on the block to buy. A few days later, you could hear the salesmen touting these homes next door as "good investments." We now are surrounded by 8 rentals: 2 in the front, 2 on the side and 3 in the rear. I wonder how these "investors" would feel if they were living in my house!

That is what drove us out of our really high end ocean front condo in Palm Coast- we did not want to be surrounded by slobs-who didn't give a crap--"they're on vacation"--

They screw up the villages-because they don't care- they don't care how they drive--they don't care how they park--if you can't afford to live here ,save till you are ready to move in- don't screw it up for your future neighbors--

Thank God there are no renters in our neighborhood !!

We are baby boomers in our 50's and purchased three years ago. Yes, we were afraid if we waited until we could move down, we would not be able to afford to buy at that time. We do rent out Jan, Feb, and March and an extra month if we can get it. This helps pay a lot of the expenses but we still pay out our pockets the mortgage.

We have the same renters from last year. They will not be renting next year because they are buying a house in TV this year. We like our neighbors and therefore do not rent by the week. We will live there hopefully in 5 years. There are only 3 rentals on our block of 24 houses. It is a neighborhood that is 10 years old with mostly original owners. Our house the husband passed away and after a couple years the wife was moved to a nursing home near her children. Our neighbors are very nice to us and to our renters.

We are currently renting in TV and we take extremely good care of this property. I hire a cleaning person to keep up the interior each week and we take as good care of this house as we do of our 7200 square foot home up North. I really don't understand why you assume that renters don't "give a crap." At our age, we have developed a sense of pride in our surroundings as well as consideration for others. I believe we are the rule and not the exception.

My next door neighbor did that. They are a few years away from retirement and rent out their home in the winter. They told me they bought out of fear of prices escalating until they could move down.

Erika, I totally agree. I've found most seasonal renters here take better care of the home than the homeowners do. Most renters want to come back year after year. They can't do this if they don't take care if the home.

Chatbrat- you are SO wrong. We rent our home in the villages- we are normally rented from October to April. EVERY RENTER we have had has been VERY high class. You realize these people lay down HALF the high season rent a year ahead of time. People that can drop over $5000 a year ahead of time are not Slobs. I am VERY offended by your post.

In fact, several of the posts in this thread IMPLY that renters are not as good as full timers or even snowbirds who own. I plan on moving into my house eventually when I finally retire. Based on my experience and observations of "full timers" homes, Renters keep their homes NICER because they want their security deposits back.

The bottom line is this - there are not enough rental homes to handle all the people who want to rent. The rents go up every year, but the PERCENT of homes that are rented has not gone up, just the number because there are so many more homes.

Ed

You are right on. That is why I bought now - letting the renters pay it off before I retire. The bottom line is it has been a great investment, but long term it will be my home. I consider myself more a Gen Xer than a Baby Boomer (52 years old), but same thing. The demand for these properties is Huge.

Ed

Erika, Ii agree with your sentiments 100 percent. We have been renting the last two winters in order to see if this is a place for us to buy into. Last years owner got back a cleaner home and a few extra items we left behind that were needed.
This years owner will have cleaner dishes, glasses, silverware and pots and pans than were left to us.
In addition the gas grill will be cleaner, tank will be full, better than when we arrived.We do not consider ourselves on vacation, we relocated for a spell to a new very expensive Premier Home
If renters like us are seen in such a bad light, perhaps you don't deserve us as future stakeholders here in AMERICA'S FRIENDLIEST HOMETOWN!

Monthly Rental
 

We've got a designer house that we've been renting out unfurnished for a minimum of 12 months. We're considering whether or not we should go ahead and completely furnish it and rent it out monthly. That would also give us the benefit of getting to come visit The Villages ourselves when it's not rented! The idea of completely furnishing our house from top to bottom terrifies me though, because I am NOT gifted when it comes to decorating. :shocked: Any suggestions of how to go about getting our house furnished and ready to rent?

Did it occur to the snobs here, that many people are renting for purposes of learning in which area of TV they eventually want to BUY a home here??

From the looks of this thread, the renters are wise to rent and find out if the neighbors are crabby and unhappy with themselves!

Renters in our neighborhood are treated just like the snowbirds who are owners--our "neighbors" and they are included and welcomed into all socials/neighborhood gatherings. Anything less would be awfully immature!

I would budget about $20,000 to do it right. Showcase furniture is the place to buy your furniture. Pick it all our online then call them - they will deliver and set it up. Wayfair.com, Walmart.com, and Amazon.com - order everything else and have it delivered. We furnished ours in 4 days, I would not recommend that, pretty stressful. Take at least a week.

Took me 4 days to furnish our new villa in 2010. Total $14,867.00. But I did bring some things with me. Then again we had southern lifestyles and they are no more

This is one of those topics that is a no win situation. I do suspect that "renters are like a box of chocolates, just don't know what you will get"

I recall one woman complaining at a POA meeting that a landlord rented his home out to a convicted child molester. The reply from POA, have him thrown out. The woman replied, they did but then it was rented out again to another sexual predator.

On the other hand we had a neighbor who told us he still had a home in San Diego and that the renter took better care of the house than he did:22yikes:

My concern is not with the renter whom I always extend a warm welcome, etc but with the process of renting because a) I was told the only way I could get full access to the amenities was to put 20% down and make full payment within a year b) because I view this as my home and not a vacation destination c) because of the transitory nature it distorts the sense of community d) that this renting situation could get out of hand and the impending consequences.

These are my personal observations, my point of view and not advances for argument, for or against, because there is nothing to be gained . It is what it is and I make no claim that my observations hold any more weight than others.

I am not all that familiar with renting in TV, but it seems to me there would be different classes of renters:
Those with pretty much a 100% chance of buying who want to try out a neighborhood
Those who are considering buying and trying out different retirement communities
Those who are essentially snowbirds and come back year after year, but don't want the responsibility or cost of owning
I would all these groups are responsible, will take good care of the property, be respectful of their neighbors and the community since they have some degree of vested interest in TV

The problem children might be those who are renting for a one time "vacation" and never intend to be back this way. I would think this is more true of a 1 or 2 week rental, especially during winter vacation. The only thing holding them to a standard of property upkeep is their security deposit, which may be enough. The only thing holding them to a standard of behavior is....well, nothing, since they don't intend to ever see any of us again. Sort of like college kids on spring break.

We have two different couples in our neighborhood who have rented for over four years. People rent for different reasons. We rented for one month here for several years before becoming full time residents. We were always warmly welcomed and hopefully we were good neighbors.

When we left our villa Dec 31st I asked my wife why we had to pay for cleaning she had the place spotless, linen done and even the garage we never used got cleaned!

Our first rental had the carpets cleaned, tile cleaned, and windows cleaned, cost was usually $200.00 cleaning fee was $100. To us as the renter. So owner cost was more than what we paid.

You can rent my home anytime!

Furnishing A Home "On The Cheap"
 

We purchased our home and had two weeks to furnish it and get it ready for renters before we had to go back home. It's a 3/2 Designer and I did the whole house including everything one would need in the cupboards, for $4000. Everyone who sees it (including my renters) declares how beautiful it is and can't believe that it was all done through the classifieds on TOTV, thrift stores and yard sales. It can be done, but you do have to have a knack for that sort of adventure! PM me if you'd like more info. :wave:

I only allow couples over 60. No children either.

20% it's a law

Clarification: The law says no more than 20% under 55 to be designated as a 55+ community. My understanding is that there is no minimum requirement to have residents under 55.

Good for you. A considerate landlord.

Agreed. [emoji106]

We also rent our home only during the high season until we move here full time next year. We are extremely picky about our renters...no children, no long term overnight guests. We have had no complaints from our neighbors & I do ask. They are very respectful of the property. We in turn have Deans for our lawn service so the property is kept in good order. I too take offense to your statement. We are not all created equal. Most of us do care!!!

We rented our Villa for the last six years and have only wonderful things to say about our renters.

Yes, rental prices have increased and so has insurance, amenities, home repair/maintenance services to keep the home up to par. Most homes only can be rented for 3 to 4 months, so it is not a money maker...
Sad thing is, in this age bracket of home ownership, things happen. Neighbor just died and left his widow after a bout with cancer. Neighbors on other side both died within months of each other....another couple divorced......Live, love, and enjoy each day.