Rentals in TV
 

Overall the economy has changed dramatically in the last12 months. However there will be many snowbirds looking for rentals with the devastation in the Fort Myers area. The people who planned on renting will be displaced and will still want to get out of the cold and snow. I don’t think the reality has sunk in yet and many are waiting to see if their rental will be available. Once the owners get an eye on their properties they will be notifying their tenants and that’s when it may become tough to find open rentals in TV.

Many aren’t “marginal” renters, (I find that classification snooty), but are rather wise renters. The costs have surpassed the value at this point.

We've been renting for the past six or seven years and rental prices are noticeably higher this year, as well as purchase prices on homes.

Sent PM.

Bingo ! that's why 3 of the 4 couples from our former town are NOT coming for the first time in 12 years.

When foreign renters are being crushed by energy and inflation they stay home. Not snooty. Reality

I have a feeling Two Bills is not living on the margins, the cost have surpassed the value and he’s no fool.

It’s not only the economy, there is an over abundance of rentals. A lot of people bought for rental purposes
for now, thinking of moving here in the future.

I fully expect that during the high season, this place will look like a ghost town. Come Spring, expect foreclosure signs up and down your street. Following that, the Morses will be homeless, living in one of their polo horse trailers. Yep...
By July, all of the people who held off from buying during the bubble will have been vindicated as they will scoop up properties for pennies compared to what they would have fetched a few months ago...
Me? I'm totally screwed.

January is cold here and expensive.
January is the coldest month almost everywhere.

Offhand I would say the prices are too high. People don't want to buy the house, they want to rent it.

An observation
 

Both myself and my wife were down for the Lifestyle visit (1 week before hurricane Ian). We began to look at several Veranda's in DeLuna. As we drove around the neighborhood, we noticed most of the smaller homes on the side street had new people moving in. However, there was little activity in the larger homes ($400K+). We drove up the street to look at other Veranda's. There stuck into the front lawn was a sign on a brand new Veranda, "For Rent". Having just looked at Rentals, I did noticed other brand new homes for rent as well, evident by the sparse furnishing shown in the pictures. My best guess was that some were purchasing new homes then flipping them as rentals. Strangely, even with rates at 7%, soon to move up, it will be interesting how the housing market does, as Realtors have been marking up many homes as much as 200%.

A conservative estimate of present rates. For three months rental.Dec-March

House at $4000 per month = $12,000 ( many over that price now.)
Car rental $1500 per month =$4,500 (very conservative estimate.)
Air fair from UK. $1200.
Total $17,700.
That is without food, gas, and general living whilst in TV.

Last visit 2019/20 total trip with all extras for same house, car and air fair $13,000. give or take a $$ or two!

Put the exchange rate in for many foreign visitors, and the value has gone.

Current increase is crazy
 

I have been looking at home resales and particularly the prices. I assumed that there would be a nominal increase every year but most are nearly 100% and I have seen some at 200%. I don't think I have ever seen it this bad.

Richmond homes have been selling in minutes. They are 100k less than resales. The resales need to wake up