Rental property management
 

We are in the process of purchasing our first Villages home and are planning on renting it out until we can come there full time. We are not sure if it’s better to use The Villages Property Mgmt or do it ourselves....thoughts?

I would say that unless I was going to be in TV during the rental season, I'd use a management company. They get a good chunk of money for what they do, but it's about as worry free as you can get. Also, as a renter, it seems to me that while the management companies get their dough, the price of the rentals are higher to offset the management expense. I think the market for rentals is strong, at least it was before COVID.

Yourself, with a good home watch and using the4rent
Site, it’s very easy. Plus you have total control over who rents. If you rent long term, unfurnished it’s less money out of your pocket

But what happens if something breaks and needs a repair and you are far away?

Hundreds in TV use rental sights and don’t live in TV. A good home watch person is key. Many on this site have experience.
We owned a PV for 4 years and rented long term while living long distance with zero problems.

If I travel to Gainesville for a few days and something goes wrong at my house, I can have someone there in 24 hours or less, to do a repair. I have bought major appliances delivered, had sprinkler system repaired, HVAC worked on, and screens replaced in birdcage, and didn’t have to be here. Been here since 07, have a long list of who I can count on for everything. Many here keep tabs on their homes from anywhere. Internet is your friend

Absolutely do it yourself. Of all of the 'professional ' firms the villages affiliate firm is the worst. TV uses a simple schedule to price your home. Is there something special about your home making it more desirable to rent? The Villages Property Management doesn't care, here is the schedule. For example designers are xxx .a month for prime season. They forbid you to offer a cart with your rental, so they are forced to use villages golf carts. Is there something special you want mentioned in your ad copy? Professionals don't care, this is what we write. Think about it, most renters don't care what the name of your home model is, they want to know how close the the square, name of nearest GC, and so on.

All firms charge you a percentage of rent, typically 17%. They often force you to use their in house services for home watch, etc. Usually these services are overpriced and sub par performers.

Now if you diy then you can use dynamic pricing. You can wait to rent your home after most homes are rented and thus get a higher price for the property. There is a rush at certain times to list homes and rent for next year's prime season.

By careful diy property management I achieved (in a non covid year) 85% occupancy.

I have used The Villages Hometown Property for 3 years. Living out of state it made my choice easy. Last thing I wanted was a call about a toilet that didn’t flush, a torn screen a leaky faucet. I asked them for a suggested rental price and was allowed to pick what I wanted to rent my place for. In short for several months all I did was check my bank account and see the deposits and no headaches. I would do it again.

2 things, no Canadian renters this year and moratorium on evictions. I would suggest using the management companies, with Hometown if the tenant is not credit worthy they get your rent up front in full. You'll sleep a little better.

Why no Canucks ? They can fly or take a train here (can't drive) and can have their "stuff" including car shipped (or rent a car). Also, this expires on Sept 21 unless they extend it. There may be less because of the hassle but it's not impossible. There is no rental moratrium in FL it seems either as it expired on 8/31 (unless it was extended).

Q: What will this mean for airline travel and other travel across the border? (From CA to US)

A: This action does not apply to entry into the United States from Canada via air, rail, or sea travel at this time, but does apply to commuter rail and ferry travel.

Travel Restrictions Fact Sheet | U.S. Embassy & Consulates in Canada

With no moratorium in place for FL renters, 'We expect a tsunami of evictions' | Florida Phoenix

Why no Canadian renters?

Border closure and travel advisory is expected to be extended to end of November at least. In addition, all Canadians require emergency medical insurance which gets somewhat problematic with this Covid issue. Yes some insurance companies are beginning to offer some type of Covid specific coverage but suspect it will be expensive and one must read the fine print very closely. As you pointed out, there are ways around driving down who wants the additional hassle?

GOften this is the greatest fear of owners. Renters call the Home watch people not you. Home watch for rental owners is not the same level of service as home watch for a seasonal owner. It is important to be cognizant of how often these maintenance calls come in. For me it was slightly less than once a year. What these home watch people cannot do is handle the financial side. They can advise you if your home is in good shape to return the deposit. They can't collect rent or return the deposit, just tell you the condition.

For several months in 2019 until April 2020 I managed my rental while I was in Bagram Air Field, Afghanistan. So, yes managing a rental long distance can work.

Who do you use for screen repair?

Down home Properties management is great

Don’t do it yourselves. I suggest using an outside Realtor management company.