[Vermilion Villager]

No secret home sales; new and used are at the highest demand rate maybe ever.
From looking at the Sumter County Tax Collector's site, it appears a very large group of new home sales; especially the smaller "patio villas" are being purchased and never lived in by the owners but turned into rentals. You can see the property sale listed on the government site… and then within about a month you see the same property listed on several rental sites including Airbnb and V**O. There are several sites that offer listings on a monthly, weekly, and even daily basis. (I'm happy to report I have not seen one for rent by the hour....yet) The owners are even forming LLC's for the properties. According to the Sumter County tax collector site, one LLC has 11 properties, and 5 were just purchased. I looked at a few of the LLC's and more than one has an address not even in the United States.

Now before everybody gets their undies all bunched up and starts lecturing about "capitalism" and the American dream… I completely understand capitalism and it is perfectly legal for somebody to rent out property they own providing they comply with any government regulations. I don't have any doubt that the owners of these properties are doing just that. I also have absolutely NO concerns about renters. I have met a lot of very good friends who rent down here.

For discussion I am wondering if the old adage "too much of anything is not good" is coming into play? Are we turning the villages or… sections of the villages into business rental districts vs communities? As I said I am not against rentals. However, I think an argument could be made that a person or persons who rents a home for a week probably does not have the same level of "community pride" as somebody who actually owns and lives here in their forever home. I have to wonder if overall this is a good or bad thing........

[DALEPQ]

I don't really understand your message. What is your point? Buying and then renting is totally legal not just in T.V. but through-out the USA.

[MX rider]

Originally Posted by Vermilion Villager

No secret home sales; new and used are at the highest demand rate maybe ever.
From looking at the Sumter County Tax Collector's site, it appears a very large group of new home sales; especially the smaller "patio villas" are being purchased and never lived in by the owners but turned into rentals. You can see the property sale listed on the government site… and then within about a month you see the same property listed on several rental sites including Airbnb and V**O. There are several sites that offer listings on a monthly, weekly, and even daily basis. (I'm happy to report I have not seen one for rent by the hour....yet) The owners are even forming LLC's for the properties. According to the Sumter County tax collector site, one LLC has 11 properties, and 5 were just purchased. I looked at a few of the LLC's and more than one has an address not even in the United States.

Now before everybody gets their undies all bunched up and starts lecturing about "capitalism" and the American dream… I completely understand capitalism and it is perfectly legal for somebody to rent out property they own providing they comply with any government regulations. I don't have any doubt that the owners of these properties are doing just that. I also have absolutely NO concerns about renters. I have met a lot of very good friends who rent down here.

For discussion I am wondering if the old adage "too much of anything is not good" is coming into play? Are we turning the villages or… sections of the villages into business rental districts vs communities? As I said I am not against rentals. However, I think an argument could be made that a person or persons who rents a home for a week probably does not have the same level of "community pride" as somebody who actually owns and lives here in their forever home. I have to wonder if overall this is a good or bad thing........

I get what you're saying. Buying then renting a home out isn't really an issue at all. It's when it gets to the point where people are actually forming LLC's for this purpose, then buying up numerous properties just to rent.

I'm all for capitalism, but there are times it needs to be regulated.
Now, I'm not saying that's the answer in this situation, but at what point does it become a concern?

We are new owners in Amelia, one of the many reasons we sold our RV and decided to buy a snowbird home here was to be part of a neighborhood. We're really looking forward that.

Although I know some very nice people from our town in Indiana that rent there,
I wouldn't want be surrounded by rentals. Hopefully it doesn't get to that point.
But as the OP asked, is it a good thing to have so many homes being bought for renting?
It's a valid question. And I don't really know the answer.

[CoachKandSportsguy]

Originally Posted by DALEPQ

I don't really understand your message. What is your point? Buying and then renting is totally legal not just in T.V. but through-out the USA.

Vermilion Villager was not making the black or white point of legality. ie, you missed the point, as he stated in his post it wasn't about legality

What Vermilion Villager is wondering about is the effect of too much capital amassed into corporate entities and then buying up large tracts of houses and turning significant portions of America, including here and other places, into rentals turning the population into serfs <noun - medieval english short for servants> .

Also, there is a stigma here and around the country for renters in a predominantly owned house suburbia as lower in economic stature, therefore assuming less caring about the house and the environment.

The question is also about the effects of real estate development success, which is not always pretty in the end.

[CindRich]

Originally Posted by DALEPQ

I don't really understand your message. What is your point? Buying and then renting is totally legal not just in T.V. but through-out the USA.

Thanks for asking so I can clarify my question.
I was hoping for some "tricks of the trade". How to rent ourselves without having a rental company do it for us (we do have a handy man ready to help in emergencies). I was hoping to find answers to questions such as: how you find quality renters, a sample lease, tax collection, cleaning companies, golf cart loan, etc. Thanks!

[Two Bills]

As a renter over many years, my advice would be to only rent if you are on site.
Some of the 'managed' rentals we have seen, have left a lot to be desired.
Some 'managing' agents we never met in the months of our stay, and some of the so called cleaning companies were dire.
We left all our rentals, as good as we inherited, and in many cases, far better.
Regarding use of golf cart, make sure you get an agreement that renter is responsible, for loss, damage, and third party claims.
JMTC.

[Packer Fan]

I have 2 rentals in TV. I bought the first one 8 years ago as my retirement home. Second one as an inflation hedge. I run both remote without a management company. Monthly rentals only - having a minimum 3 month high season makes it pretty easy but I average 10-11 months a year rented.

That said, rents don’t really keep up with inflation, and making the cash flow work at current sale prices would be tough. I don’t understand how you would make a business work if you have to pay management fees.
I have the second house to capture the long
Term appreciation- I plan to sell it my first year of retirement and live off the proceeds for 7 years to push off taking SS until I am 70.

In my experience Renters take better care of my houses than I do. People who bash renters are not talking about mine.

If you want to rent your house, I suggest villagers homes 4 rent dot com. They have some great resources and I would list my home there to get it rented. I would also join the Facebook group landlords of the villages. Good info there too.

Keep in mind, a lot of the advice given on this site is from people who have never rented a house. All kinds of worries expressed that just are overblown. You are renting to people who can write a $7000 check a year
Ahead of time to hold their spot, good responsible people. Btw, stay away from being a churn the property once a week landlord on Airbnb. Not the way to go in my opinion

[CindRich]

Thank you. That is exactly the information I was hoping for.

Check out the Facebook group, Home Rentals in The Villages FL. Also a website, RentfromaVillager.com. Good info in both those places!

I am the boots on the ground support for 7 patio villas here. There is a cleaning person who manages the turnarounds (cleaning, sheets, beds, check golf cart). One is a long term lease. The others are short term, with AirBnB, plus other sites like RentFromAVillager. During high season, houses are rented for the 3 months. Shoulder seasons, one month. Summer will be shorter stays (or else the houses would be empty). Anyway, lots of great info in those 2 places for you.