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  #1  
Old 04-19-2011, 08:29 PM
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Mark1130 Mark1130 is offline
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Default CYV Rentals

We are actively looking at buying a CYV. Our plan is to rent this out for a couple of years before moving down permanently.

Our preference is a 3bed/2 bath but I was wondering if we by a 2bed/2 bath is it easier to rent? Do renters prefer the larger and the extra bedroom? Also, is location a big factor in having renters?
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Old 04-19-2011, 08:36 PM
tcahearn tcahearn is offline
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Hi -- We did the exact same thing these past 3 years and are now moving to TV permanently next month. We have a 2 bedroom CYV and love it. We wanted to downsize so this space is perfect for us. We went through Tom Grizzard property management & they take care of everything including finding renters. We have had no trouble finding renters for short term rentals.

Good luck and hope this was helpful.
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Old 04-20-2011, 07:02 AM
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I don't know the answer to 2 vs 3 bedrooms, but location really does matter a lot. I have to think it is the most sought after factor. I have 2 rental homes, one is 5 minutes from LSL and the other is 8 minutes from LSL by golf cart. You would think it would not matter. I have had many people who call on one home, end up looking at both, and always choosing the one closer to LSL. And that is their only reason. Even had people who like the further home much better, but choose the closer one. The furthermost home is a designer, much larger, more features, and the closest one is a small ranch. It shocked me that the activity level, site views and rental inquiry's were so significantly higher on the closer to LSL home. Even when I explain to them it is only a difference of 3 minutes, they still prefer to be closer.
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Old 04-20-2011, 07:13 AM
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Quote:
Originally Posted by l2ridehd View Post
I don't know the answer to 2 vs 3 bedrooms, but location really does matter a lot. I have to think it is the most sought after factor. I have 2 rental homes, one is 5 minutes from LSL and the other is 8 minutes from LSL by golf cart. You would think it would not matter. I have had many people who call on one home, end up looking at both, and always choosing the one closer to LSL. And that is their only reason. Even had people who like the further home much better, but choose the closer one. The furthermost home is a designer, much larger, more features, and the closest one is a small ranch. It shocked me that the activity level, site views and rental inquiry's were so significantly higher on the closer to LSL home. Even when I explain to them it is only a difference of 3 minutes, they still prefer to be closer.
I think because people who don't live here think that being really near a square is really significant...which it really isn't. I bet it guides a lot of people's home purchase too. I also bet that after they buy they wish they were closer to the grocery.

A better question is just how many months a year a rental property is rented. I think that is a big eye opener.
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Old 04-20-2011, 07:29 AM
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I think I am a little above the normal, but I average 8 months a year. Will do 9 this year. I have one home that has someone who takes it 6 months every year so that does help drive the total months rented higher.
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Old 04-20-2011, 08:15 AM
Ohiogirl Ohiogirl is offline
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Quote:
Originally Posted by Mark1130 View Post
We are actively looking at buying a CYV. Our plan is to rent this out for a couple of years before moving down permanently.

Our preference is a 3bed/2 bath but I was wondering if we by a 2bed/2 bath is it easier to rent? Do renters prefer the larger and the extra bedroom? Also, is location a big factor in having renters?
Rented out our 3 bedroom CYV for about 3-1/2 years before we retired last fall and became snowbirds. Averaged about 6-8 mos advertising online only. Should have put a For Rent sign in the window also, but never did.

We are quite close to LSL (Sabal Chase) and I think that does make a big difference, especially for those who have rented before. Only a few times (for short term, off-season) did the 3rd bedroom make a difference, usually for families and twice for adults.

Getting a golf cart made the biggest difference. Golf cart paid for itself, should have gotten one right away, but waited a year. I think some really liked the inside laundry and some really liked that there was a recliner in the living room. We only have queen-sized beds, so that was a negative - some are used to and must have a king-sized bed in the master.

Gracie, I would agree that being close to a square doesn't matter that much when you are living here, but those who are visiting, or renting for the first time, spend much more time at the squares and shopping the boutique stores, and going out to eat than most residents, so it's more important to them. Also, LSL is centralized to look at homes everywhere, if they are so inclined.

But, I wouldn't buy a 2 or 3 bedroom based on rentals - I'd buy what you think you want to end up with. We love the 3rd bedroom for our office/music practice room and just for more stuff. Also, we set up an airbed there now (gave the 3rd bed to one of my daughters when we retired) only when needed - makes the room a lot more versatile. Will also set up the pack n play there for visits when the next grandkid makes its appearance.
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Old 04-20-2011, 12:46 PM
whartonjelly whartonjelly is offline
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Quote:
Originally Posted by Ohiogirl View Post
Rented out our 3 bedroom CYV for about 3-1/2 years before we retired last fall and became snowbirds. Averaged about 6-8 mos advertising online only. Should have put a For Rent sign in the window also, but never did.

We are quite close to LSL (Sabal Chase) and I think that does make a big difference, especially for those who have rented before. Only a few times (for short term, off-season) did the 3rd bedroom make a difference, usually for families and twice for adults.

Getting a golf cart made the biggest difference. Golf cart paid for itself, should have gotten one right away, but waited a year. I think some really liked the inside laundry and some really liked that there was a recliner in the living room. We only have queen-sized beds, so that was a negative - some are used to and must have a king-sized bed in the master.

Gracie, I would agree that being close to a square doesn't matter that much when you are living here, but those who are visiting, or renting for the first time, spend much more time at the squares and shopping the boutique stores, and going out to eat than most residents, so it's more important to them. Also, LSL is centralized to look at homes everywhere, if they are so inclined.

But, I wouldn't buy a 2 or 3 bedroom based on rentals - I'd buy what you think you want to end up with. We love the 3rd bedroom for our office/music practice room and just for more stuff. Also, we set up an airbed there now (gave the 3rd bed to one of my daughters when we retired) only when needed - makes the room a lot more versatile. Will also set up the pack n play there for visits when the next grandkid makes its appearance.
We may be renting a courtyard to have the feel for it also before we buy. Still hoping for our home to sell. Location was very important when we bought our home in Lawrenceburg. But i agree with Gracie, it may be more important to be near grociery stores in the Villages.
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Old 04-22-2011, 11:50 AM
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Default Agree - better to be closer to grocery stores

I'm renting in Chatham for a week in July. Even though it's only for one week, from what I can tell from the TV map I'm pretty close to the Publix in Mulberry Grove Plaza, which was a plus for me in choosing a rental. Next time I rent in TV, I think I may choose a rental near 466 or south of 466 to experience the more central/southern part of TV.

For those in the know, how long in minutes is the golf cart ride from Chatham (looks like the rental villa is about 3 blocks south of Torri Pines in Lopez) to SS and LSL? Thanks in advance.
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