[justjim]

Most renters are only interested in 3-4 month rental. There are exceptions but as a general rule January-March make up the vast majority of snowbirds in TV. From an economic standpoint renting makes a lot of sense for a snowbird who is only in TV for 3 or 4 months a year. Some own a home just for the convenience---forget the money!

In a retirement community, you are always going to have a relative mobile community. The tax structure discourages owning property unless you are a full-time resident. Some think this is fair---others don't. It is what it is.

[rockyisle]

If we had not been able to rent a home for 6 months, we'd never have made the investment in TV. I'm not certain why you feel this way. I'm curious... would you care to elaborate?

[mulligan]

Probably feels the same way I do about renters. They have little or no vested interest in the community.

[nitehawk]

Becareful !!! Ghettos are Ghettos because very few people own the house they live in and have no pride or vested interested in the neighborhood ---- if the rental market dries up ( and this can happen) here comes the undesirables

[OBXNana]

Do you honestly think anyone would make a sizeable investment and become slum lords? This isn't an inner city community where someone can buy a row of houses for $50,000.00. From what I read on the forum, many buyers pay cash. In some instances it appears they have paid cash for more than one property. These are wise investors and won't walk from that kind of money.

We want to make sure we have the property we want when we're able to retire. We will rent the house until we have the luxury of moving south. We are obtaining a loan. The ability to obtain a loan isn't the same as it was in the late 1990's and early 2000's prior to the real estate drop. To the best of my knowledge, you can't buy a property with no down payment. The minimum, again to my understanding, is 25% down for an investment or second home loan.

We have owned many rental property's in the beach area over the years. We take quite a bit of pride in keeping the houses well maintained. In doing so, we get guests that rent weekly, appreciate how well we maintain the property, and treat the house with the same respect. During our preview in The Villages, one of the things that we were impressed with was the apparent pride in ownership in every area we traveled those 5 days. Because a house is rented doesn't mean it will be neglected.

[JourneyOfLife]

IMO.... The post is a strawman argument intended to be fodder for debate and discussion.

Anything is possible, but how likely is it in the next 20 or 30 years?

Go far enough into the future and anything can happen anywhere for reasons no one could predict.

[asianthree]

Originally Posted by l2ridehd

About 50% of my renters end up buying a home. Without the opportunity to live in The Villages for extended time periods, many would not have bought a home and your home value would be significantly less. More buyers equal higher home values always. So you should probably rethink your position and look to see if there are any benefits to you personally. I think you will find that answer to be yes.

I agree. Many want to rent before they buy

[mulligan]

But there are a lot who bought without renting. IMHO, enough so that values would not be affected.

[OBXNana]

We're not familiar with property values in The Villages and wonder how values are affected by rental property's. Is it a negative to have an out of town or state listed on the tax records for the owner? Is the fact a house is owned by an absentee person listed on a VLS or MLS? When a house is assessed for tax purposes, is a rental house appraised lower?

In PA the tax records are public and I don't think anyone checks to see where the owner lives. In NC almost all owners on the Outer Banks are from out of state and listed on the tax records. We check tax records when buying to make sure the number of bedrooms or bathrooms equals the tax records to avoid having additions that hadn't been permitted. Never looked to see where the owner lives.

Just wondering if in The Villages a rental next door, depreciates the neighbors house value?

Thanks.

[asianthree]

Originally Posted by OBXNana

We're not familiar with property values in The Villages and wonder how values are affected by rental property's. Is it a negative to have an out of town or state listed on the tax records for the owner? Is the fact a house is owned by an absentee person listed on a VLS or MLS? When a house is assessed for tax purposes, is a rental house appraised lower?

In PA the tax records are public and I don't think anyone checks to see where the owner lives. In NC almost all owners on the Outer Banks are from out of state and listed on the tax records. We check tax records when buying to make sure the number of bedrooms or bathrooms equals the tax records to avoid having additions that hadn't been permitted. Never looked to see where the owner lives.

Just wondering if in The Villages a rental next door, depreciates the neighbors house value?

Thanks.

there are three rentals on our block and the house down the street just sold for 40k over what they paid three years ago, and sold in 48hours, so no worries there

[gerryann]

In another thread that was posted today, someone is looking for a weekly renter for his patio villa.......weather this is a legitimate post, or ??? ...who knows......but as far as renting goes. I would be PO'd if I bought a home and had WEEKLY renters next door or across the street all the time.......nothing I can do about it, I just wouldn't like the in, out of new people all the time. Monthly renters are ok, but some of the courtyard villa neighborhoods have just WAY too many rentals for a permanent year round resident to have for neighbors. Too bad there can't be certain villages for rentals only. I was a renter myself for three years, but for a month at the very least.

[golf2140]

I am waiting for the day a renter is given the keys to the house and golf cart without being told the ins and outs. They wreck the golf cart. Being injured they hire Morgan and Morgan and the home owner looses his pants. Just look at all the crazy drivesrs this time of year. Driving on 466 , Morse, Etc.

[buggyone]

Originally Posted by golf2140

I am waiting for the day a renter is given the keys to the house and golf cart without being told the ins and outs. They wreck the golf cart. Being injured they hire Morgan and Morgan and the home owner looses his pants. Just look at all the crazy drivesrs this time of year. Driving on 466 , Morse, Etc.

There have been many posts on here about a golf cart being included in the renting of a house. The insurance agents have repeatedly told clients that is extremely foolish as the homeowner (owner of golf cart) can be sued for damages and liability if a renter uses the golf cart and will be not covered by insurance.

Some of the homeowners try and put together a document to weasel word themselves as loaning it to the renters. The lawyers and insurance agents are better legal eagles than the homeowner and the homeowner loses his life savings.

Best practice is to not include the golf cart in any way to a rental. If you have a cart in your garage and rent your home - take your key with you and have it in the rental documents that the golf cart is not to be moved.

[sueandskip]

Not to pick a fight but you are totally wrong....Insurance is available for a renter using a golf cart at a very reasonable price....These kind of stories are repeated by people who heard from a friend that heard from a friend and it gets totally twisted..My golf cart was wrecked by a renter last January...Insurance covered everything with no problems....As the television show used to say at the end "BELIEVE IT OR NOT"

[sueandskip]

Originally Posted by nitehawk

Should TV allow multiple home ownership --- my opinion NO

My only problem with rental property is I think the owners should rent to people 55 or older for a long term renter....In TV there is no age limit on a renter....That's how you end up with a 30 something living next door full time...