Think the houses with golf cart garages cant rent. All others can

An over abundance of rentals can ruin a neighborhood. You have no neighbors, many rentals are NOT as well kept as you would care for your home. Different people in and out

ability to rent in newer areas?
 

Fenney was originally started by another developer and then acquired by The Villages. It's possible that the original area had deed restrictions on those homes.

I certainly hope so! Bringing someone you do not know well to live in your home is too dangerous, especially for seniors.

Rentals South of 44
 

Best way to determine what restrictions, if any on rentals is to read the dead restrictions for that section. Deed restrictions can be found on the county's website. You will need the village and section to know which one to look at. Here is the web address for Sumter County; VCDD Deed Compliance - Sumter County

You will need the district and the property identifier for example, VNH#80V034
VHN is villages house number 80 is the section in the CCD, this example is in district 13 section 80 go to the above link and you can pull the deed restrictions for any home in The Villages in Sumter County.

I didn't say you couldn't sell, I said you couldn't sell it for more than the price you paid plus upgrades. You can also include all closing costs which are a part of the purchase price, and the closing costs when selling since that reduces your net profit. Odds are, within 12 months of purchasing and reselling, you probably would see very little profit if any. I wouldn't worry about it and I don't think TV is worried about it. They are only concerned about a person who is a professional flipper coming in and buying and selling quickly.

I have not heard this before.

Typical residential mortgages are for owner occupied first and/or second homes. The mortgagor usually is required by the lender to sign some paperwork to the effect that the mortgagor agrees to occupy the dwelling and not to rent it out. If one rents out a mortgaged home it should be financed as a rental which is understandably usually at a little higher interest rate.

Now how would a mortgagee learn a mortgagor rents the house out? I don't know how well most lenders police their loans but that is a good question. If a house is owner occupied one normally gets a homeowner's insurance policy as required by the lender. If one rents the house out it should be insured as a rental. If it is the lender would receive a copy of the policy on a rental house, not on an owner occupied home.

Most people buying homes in The Villages who plan to rent them out for a while prior to eventually occupying them may just hope that their lender never checks and they do not have to deal with an insurance claim on their rented out house I guess... I really do not know. IMHO that is a chance I would not take.

Correct!
 

CORRECT! If you have a commercial mortgage, which is for an income producing property, ie, for renting, you can't live in/on the property. The interest rate difference is MORE than a little higher!

Its not that the mortgage company doesn't care, the issue is about the insurance of the property in case of an accident. If you have residential insurance, and are renting it out, and the house burns, or there is a liability claim, then the owner has a big problem, as in uncovered. Also, some residential insurance companies, like AMICA, won't cover a commercial property, and will put disclaimers all over your residential liability insurance that any events on the commercial property is not covered.

:shocked:

You are welcome
:ho:

It wasn't the Village of Fenney that was started, a developer was to build on the land that Fenney sits on but it never got off the ground. It's only a small percentage of the homes in Fenney that cannot be rented. In a way that's good as you don't have to worry about short term renters being in and out next to your home but you would lose some buyers, namely investors, because of that restriction when it comes time to sell. There was a small home for sale over there that took forever to sell and maybe never did, there are two more homes currently for sale there that have been on the market longer than most homes in Fenney but then others sell quickly. We had a summer home on Lake Erie in a complex that did not allow short term rentals and some of the owners got around it by telling their tenants to say they were friends being allowed to use the condo rather than being renters. They did get away with it.

no more rentals - this is not Disney, its a retirement community not a business

Leggett Lane in Fenney is one of the streets I know for sure are deed restricted (NO RENTALS whatsoever). This area is called Section 12 (and that’s not the CDD). I don’t know if Sweet Bay Trail is included. It was an experiment TV tried due to so many villagers north of SR 44 upset over rentals (particularly Airbnb’s). The homes were also the first tract of homes south of 44 with fences (and NOT called Veranda homes). I know this for sure because we owned a Jasmine on Leggett Lane. We just recently sold it and that restriction along with COVID cost us 5 months (on market) and about 30K less than we could have sold for elsewhere! We really wanted to rent the home seasonally, but knew someone would turn us in! As far as I know they have not done that deed restriction since.

There was another Thread regarding rentals in The Villages. Apparently there are some rental businesses in TV that are renting houses and Villas by the day or week. Of course, neighbors were not happy about the in and out of strangers in their neighborhood. All of this legal according to deed restrictions. Not “cool” IMHO.

I must confess, I bothers me when people call TV a retirement community. To me, "retirement community" congers up "heavens waiting room" visions.

This is a deed restricted 55+ community with an abundance of activities and amenities. That sounds much better. Plus, not everone who lives here is retired.

I’ve had 14 new homes or condos , 13 in Florida 1 in Arizona ( 5 of those in villages) I’ve rented them all in winter months and gone other places, Hawaii, Thailand Vietnam, my homes are kept up better then most and most of my renters were recommended to me . I think that many of the people who complain about renters are just envious,FYI over the years I’ve had 2 insurance claims , it was no problem at all