Annual Rents for Patio Villa's South 0f 466
 

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

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 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.

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.

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

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.

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!

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.

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

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.

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

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

Villa
 

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

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

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

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

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

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.

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

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

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

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.

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.