Talk of The Villages Florida

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-   The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)
-   -   Are rental #'s really this crazy? (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/rental-s-really-crazy-351566/)

BrianL99 07-23-2024 07:27 PM

Quote:

Originally Posted by MrChip72 (Post 2352235)
People that somehow think that rentals are not allowed are oblivious. The Villages certainly wouldn't maintain their temporarily transferable resident ID system if that were the case. They know that a big selling point is people being able to rent out their home for part of the year. My Villages sales agent actively pushed that we could rent out our home when we weren't using it even. The Villages even owns a property management company that only manages rental properties within TV, not to mention that lifestyle visits are essentially a rental.

The wording in the deed restrictions could use some improvement though. I know that it's only meant to prevent people from running a nail salon or sell merchandise out of their garage.

Finally, someone who gets it.

The Villages/Developer was all for the availability of "renting homes". it makes sense, in that it's in their best interests, to have homes occupied as much as possible. A huge part of the Developer's revenue is from all the commercial property they own. Higher occupancy, means higher rents for the commercial property.

What the Developer didn't foresee (nor did most anyone else), was the advent of AirBnB & other such platforms, that are able to put Joe Smith home owner into the "hotel" business.

I'm not so sure the Developer would have written the restrictions/covenants any differently, had he anticipated the short term rental market ... as evidenced by the fact, they haven't changed the restrictions in the newer areas.

I think eventually, we'll see the CDD's step into the breech, with restrictions on the Guest/Resident ID system.

MrChip72 07-23-2024 08:45 PM

Quote:

Originally Posted by BrianL99 (Post 2352272)
What the Developer didn't foresee (nor did most anyone else), was the advent of AirBnB & other such platforms, that are able to put Joe Smith home owner into the "hotel" business.

I'm not so sure the Developer would have written the restrictions/covenants any differently, had he anticipated the short term rental market ... as evidenced by the fact, they haven't changed the restrictions in the newer areas.

I would be 100% behind banning short term rentals. A monthly rental is reasonable. A weekend rental is not.

The short term rental people are a completely different demographic than those that just want to spend a month or two in TV and see what it's all about or come back for a second or third time.

Dusty_Star 07-24-2024 12:53 PM

Quote:

Originally Posted by DeweyBeach (Post 2351724)
I guess so ... Says March is rented. We'll all drive ourselves nuts trying to understand how people spend their money ... likely the March tenant has lots of it. I've seen listings way higher than that for Designer homes not amazingly nicer. Sometimes I wonder if some owners just put their house up for rent for a super premium price and, if someone rents it, then pack up and leave clicking their heels. Good for both sides of the deal!!


Exactly, kind of a 'make me rent you my house' deal.

DrMack 07-24-2024 01:13 PM

Some
 
Quote:

Originally Posted by BrianL99 (Post 2351717)
I don't pay any attention to the rental market in The Villages, but this popped up on Facebook today and out of curiosity, I looked.

Rent From A Villager | Rental Homes in The Villages Florida | Advertise Your Village Rental


1500 sq. ft. 3 bedroom/2 baths. I guess it comes with a golf cart. Near the Shallow Creek Golf course and apparently 15 minutes from Sawgrass ... like Sawgrass is a huge draw.

$7000/month for January or February?

Are people really paying that kind of money for rentals in the middle of nowhere?

It all depends on location. We rent ours out for 3000 a month year round. The home is a designer and about 1900 square feet but located in Dabney.

LeRoySmith 07-24-2024 01:14 PM

Quote:

Originally Posted by Dusty_Star (Post 2352552)
Exactly, kind of a 'make me rent you my house' deal.

It seems silly but maybe I'll try this next winter, put the house up for rent for 10k a month.

2000sq' designer, 3br, 3bt, 3 car garage, large heated and cooled pool, all utilities included, golf cart use included, small sports car use included. Located in the middle of nowhere.

If someone bites I go on an all expenses vacation for a month.

margaretmattson 07-24-2024 02:00 PM

Quote:

Originally Posted by Wondering (Post 2352077)
That is crazy! Somewhere in the $4000 range is reasonable and the going rate.

I moved from a villa near a square because of several rentals on the street. At $7,000 a month, there probably will be four to six people in the home dividing the cost of the rent. This happened many times in my former neighborhood.

thelegges 07-24-2024 04:25 PM

Quote:

Originally Posted by LeRoySmith (Post 2352562)
It seems silly but maybe I'll try this next winter, put the house up for rent for 10k a month.

2000sq' designer, 3br, 3bt, 3 car garage, large heated and cooled pool, all utilities included, golf cart use included, small sports car use included. Located in the middle of nowhere.

If someone bites I go on an all expenses vacation for a month.

Make sure you set an electric limit especially because of the pool. It’s standard practice during winter months to set a limit on how much $$ per month. That way if your tenet cranks up the temp, it’s on their nickel.

LeRoySmith 07-24-2024 04:32 PM

Quote:

Originally Posted by thelegges (Post 2352608)
Make sure you set an electric limit especially because of the pool. It’s standard practice during winter months to set a limit on how much $$ per month. That way if your tenet cranks up the temp, it’s on their nickel.


Good thought, thank you!

Robbb 07-25-2024 06:15 AM

Quote:

Originally Posted by BrianL99 (Post 2351717)
I don't pay any attention to the rental market in The Villages, but this popped up on Facebook today and out of curiosity, I looked.

Rent From A Villager | Rental Homes in The Villages Florida | Advertise Your Village Rental


1500 sq. ft. 3 bedroom/2 baths. I guess it comes with a golf cart. Near the Shallow Creek Golf course and apparently 15 minutes from Sawgrass ... like Sawgrass is a huge draw.

$7000/month for January or February?

Are people really paying that kind of money for rentals in the middle of nowhere?

I rent in the villages often so I think I have a handle on the market...yes $7,000 is overpriced. I see a lot of owners post crazy prices in hopes a niave renter will panic and rent out of fear of missing out on the chance to rent for a winter. The reality is there are hundreds if not thousands of villages homes to rent, keep shoping and you will find what you want. The market is about $4,500 for a patio villa, and maybe up to $6,000 for a very nice 3/2 with a golf cart. Anything over that and you are getting screwed.

ElDiabloJoe 07-25-2024 08:34 AM

Quote:

Originally Posted by thelegges (Post 2352608)
Make sure you set an electric limit especially because of the pool. It’s standard practice during winter months to set a limit on how much $$ per month. That way if your tenet cranks up the temp, it’s on their nickel.

Wait! That's possible? How does that even work. How are tenants notified their quarter is up and need to put in a new one?

BrianL99 07-25-2024 09:02 AM

Quote:

Originally Posted by ElDiabloJoe (Post 2352773)
Wait! That's possible? How does that even work. How are tenants notified their quarter is up and need to put in a new one?

It's like the old fashioned, do it yourself car washes.

When you have 30 seconds of heat left, it goes ding ... ding ... ding ... until you put in another quarter.

Probably takes credit cards, so they don't need to install a "change machine".

Velvet 07-25-2024 11:36 AM

Can you not simply write into the contract, something to the effect the hydro bill is covered up to $100.00 a month or whatever is reasonable, any charges above that is renter’s expense and will be deducted from the deposit?

FloridaGuy66 07-26-2024 12:04 AM

Quote:

Originally Posted by margaretmattson (Post 2352582)
I moved from a villa near a square because of several rentals on the street. At $7,000 a month, there probably will be four to six people in the home dividing the cost of the rent. This happened many times in my former neighborhood.

This is not commonplace at all. We charge $6500 to a couple and allow up to two guests to visit for a limited amount of days. Never six people. We have outdoor cameras so we would easily be able to verify if there were six people staying for months.

It's funny when the same person posts about things almost none of which I've never seen happen personally even after several years in TV.

Two Bills 07-26-2024 03:10 AM

Quote:

Originally Posted by FloridaGuy66 (Post 2353030)
This is not commonplace at all. We charge $6500 to a couple and allow up to two guests to visit for a limited amount of days. Never six people. We have outdoor cameras so we would easily be able to verify if there were six people staying for months.

It's funny when the same person posts about things almost none of which I've never seen happen personally even after several years in TV.

All our rental contracts were based on two people occupying property.
We always had to get permission for our kids/grands. to visit.
Some landlords charged an amount extra for their stay, others didn't.

Papa_lecki 07-26-2024 06:02 AM

Quote:

Originally Posted by Robbb (Post 2352699)
I rent in the villages often so I think I have a handle on the market...yes $7,000 is overpriced.

It’s not overpriced if someone rents at that number.

margaretmattson 07-26-2024 06:26 AM

Quote:

Originally Posted by FloridaGuy66 (Post 2353030)
This is not commonplace at all. We charge $6500 to a couple and allow up to two guests to visit for a limited amount of days. Never six people. We have outdoor cameras so we would easily be able to verify if there were six people staying for months.

It's funny when the same person posts about things almost none of which I've never seen happen personally even after several years in TV.

In the years you have lived in the Villages, you have never witnessed a retired couple with their grown children and spouses/partners sharing the same rental home for a month? Or young adults (with friends)visiting relatives preferring to rent a home rather than stay at grandma and grandpa's house?
Or a large group of family members in town for the Holiday or summer vacation? Again, preferring to rent than disrupting their relatives home? I can go on. Hmmm....interesting!

Bill14564 07-26-2024 06:33 AM

Quote:

Originally Posted by margaretmattson (Post 2353070)
In the years you have lived in the Villages, you have never witnessed a retired couple with their grown children and spouses/partners sharing the same home? Or young adults (with friends)visiting relatives preferring to rent a home rather than stay at grandma and grandpa's house?
Or a large group of family members in town for the Holiday or summer vacation? Hmmm....interesting!

Not in the four years I've been here. I don't doubt it happens somewhere in the 60,000+ households in the area but it can't be too common.

asianthree 07-26-2024 08:49 AM

Quote:

Originally Posted by ElDiabloJoe (Post 2352773)
Wait! That's possible? How does that even work. How are tenants notified their quarter is up and need to put in a new one?

Friends rented 4/4.5 home With a pool for three months in their contract, they had to have a dollar amount over and above rent for the electric. Electric bills are monthly.

The owner can actually watch anything changed in the pool temperature runtime. Kept the tenants updated monthly on electricity costs, send copy of bill every month
First month friends asked what would it cost if they kept the pool at 89° in January their landlord was honest said electric could run close to 6 to $800.

They chose to keep pool as it was set by owner. . They enjoyed the pool during sunny days, but very few nights in first month. The electric bill for the pool was within their allotment and their deposit money was refunded day that March bill was calculated.

Toymeister 07-26-2024 03:53 PM

Quote:

Originally Posted by ElDiabloJoe (Post 2352773)
Wait! That's possible? How does that even work. How are tenants notified their quarter is up and need to put in a new one?

There is this thing called a whole house energy monitor. It will tell you precisely how much electricity is used. If you have an electric water heater you can even tell if there are extra guests there. Sense.com

asianthree 07-27-2024 03:30 AM

Quote:

Originally Posted by margaretmattson (Post 2352582)
I moved from a villa near a square because of several rentals on the street. At $7,000 a month, there probably will be four to six people in the home dividing the cost of the rent. This happened many times in my former neighborhood.

In today’s world most landlords have outside monitors know who enters home. Contracts are usually written for 1-2 people and guests may be allowed for amount of days or an additional charge. If our kids vaca together, thats not a rental it’s family.

Your post however states at $7,000 there will be Probably be 4-6 people in the home.
Then you post happened many times in your former neighborhood.
So which did you actually witness, the probably or actual many times?

gweisheipl 07-27-2024 07:22 AM

Second Mortgage?
 
Why would you have a second mortgage?

Quote:

Originally Posted by DrHitch (Post 2352049)
Owning a home and using it for rental is NOT for the faint of heart..

1) The carrying cost of a home with 2nd mortgage is about $35,000 per year (just to keep it alive). Therefore, you need $3,000 per month to break even (assuming you're carrying a mortgage)
2) Costs for everything have skyrocketed (lawn, utilities, insurance, etc). A 2nd mortgage is well north of 6%
3) Rentals elsewhere in Florida are INSANE. Naples rates in "high season" are above $10,000 per month for a shoebox condo
4) Although the supply of houses in The Villages that have been bought exclusively for rentals (real estate is not a great investment tool), these rates on RFAV and VH4R are actually low, compared to Florida coastlines. It's a case of supply and demand and competition.


ElDiabloJoe 07-27-2024 12:58 PM

Quote:

Originally Posted by Toymeister (Post 2353292)
There is this thing called a whole house energy monitor. It will tell you precisely how much electricity is used. If you have an electric water heater you can even tell if there are extra guests there. Sense.com

Interesting. So is it easy/cheap to install? Do you need a sensor for every electrical appliance/fixture? How does this work?


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