If you do some checking around, you will find that MANY homes have been sold by the Villages to people very much under 55yrs. Most landlords keep their homes up very well,
look at the website....very nice homes. When no one wants to come to the Villages anymore, THEN you will see your property values effected.....whoosh!

I think the economy is better and so we get more people coming to Florida not to mention the crummy weatherup north

reply
 

I think you pretty much hit the nail on the head. After all is said and done you will only turn a very small profit on the rental. If you want it to pay some expenses, well thats ok, but keep in mind, keeping two places is risky.

Since the number of houses continues to increase, it seems logical to assume that the number of rentals would as well. We had heard that the typical villager will buy three homes here. What we didn't expect was that so many villagers would keep their first and/or second one to rent.

I agree with your number- I had about $5000 for a used golf cart also...

I bought mine at 51.. We ran into some people when we were looking that were buying their second home and they were in their 40s.
We all plan to move their when we retire - just getting in now for various reasons - lock in the price, and let the renters help pay it off.

Not SNOBS, should be singular. Only one poster treated renters with that attitude and my dad always had good advice for me about arrogant braggarts.

is it possiable to find a rental for a thousand dollars a month around the villages {cat freindly} call814 7465545 Rich in PA

Furnishing our rental
 

Thanks to everyone who provided the helpful guidance on how to go about getting our rental furnished. I've got a friend who's agreed to help me tackle this, so we'll probably be heading down there shortly to get busy on it. My guess is once she's seen The Villages, she'll end up getting a place of her own! :clap2:

I assume you would have other roommates in addition to the 'freindly' cats.

I get that with increase building there would be an increase in rentals. But is the % of rentals on the increase? This rental condo has 88 units with 2 dogs..that go when they die!

Who is your property manager? Are you happy with them? We are thinking about renting but unsure of what to do.

Are you wanting to rent or renting out.

Only risky if you have poor financial planning

In addition to the monthly maintenance costs (electric, phone, internet, cable TV, yard work, pest control, water, amentity fee, taxes, insurance, etc., which go up yearly) of owning a rental house, don't forget that things wear out. Appliances (stoves, dishwashers, refrigerators, disposals, etc) have to be replaced, roofs have to be maintained, air conditioners and hot water heaters have to be replaced, interior and exterior painting every few years, there is wear and tear on the furnishings, which sometimes have to be replaced. There is not enough rental income in the high season to cover everything, so you can expect a negative cash flow. In addition to the monthly expenses, sale's tax is owed to the Florida State and County where you live. There is a huge fine if you do not pay it.

I would think that a high season rental would/could pay for basic costs. The villa we're considering to buy has the best view anywhere. BUT it is 14 years old and has the original roof, A/C, etc. Here on Islamorada this condo complex has HOA fees of over $600+ a MONTH! WHY? It is getting old!

My rental income for Jan-March paid the bills for the entire year. I typically rented out about 6 other months and that was gravy.

because it was part of the rental agreement you signed?

Greg Nelson, I would think renting a home could hurt rental values. It depends on the person that's renting. Are they clean, do they appreciate other peoples properties & investments, do they have pets they clean up after. We rented for 2 yrs. before we bought, & I gaurantee you it was cleaner when we left than when we rented it, but the person we rented from kept a very nice home. So to answer your question Greg, if you get good renters, it shouldn't hurt the value of the home. But then again every pre-owned home that's went up for sale that I've seen, the owners want just as much for a lived in home as a new one.

Senior Wisconsin, Rental prices have gone up from what we paid our first years by $1,000.00 each month for Jan. Feb. March. Now the rentals are getting too expensive. We can stay in a hotel and get free breakfast and maid service for less.

Would you mind sharing what your long term rental rate is? Also any other details about your home 2/2 or 3/2? Golf Cart? I'm new to rentals. Thanks!

Which hotels? how $$

We are closing on a courtyard villa next week which we hope to use as a long term rental. Any words of wisdom or advice? Kathy

We just started our first long term rental (we purchased a new home in TV). We are using Down Home Prop Mgmnt and are very happy. They were great to work with and offered several suggestions re: long term v. seasonal rentals. Reasonable fee too.

We live here full time now but I have rented in the past. One year an owner returned my cleaning fee along with the deposit because I had left it so clean. That was a nice surprise.

yes

Villas & Manufactured homes
 

On our 10th year in TV and have observed more rentals among the Villas and in the Historical District. We had a very nice rental in the Historical district ourselves----sold it a couple years ago as it became a "headacke" and didn't care to deal with it anymore. We ran across some who make a business out of rentals---some own and some manage rentals for others.

Folks come and go in TV for many different reasons. There are many more houses since we first purchased so it "stands to reason" there are more rentals. A bit cool but stil a beautiful day in The Villages. :read:

Those 13 homes that became rentals, could be good or it could be a disaster for the home owners around them. Just hope they're good renters. I know the Villages will tell us they're screened & qualified, but we all know some people can put on a good show when they want something. To many rentals can run a city down in a hurry!

Can you legally do that?

And I'll make book The Villages Sales Department started that rumor :D

Wow! The sales pitch given by The Villages by marketing was this is a 55+ retirement community where you could live like a millionaire on your retirement savings. And if you wanted in on this slice of paradise and its amenities and privileges you needed to place 20% down and complete the transaction within one year..........................

What I am reading now is that the 55+ retirement community is dissolving, a vacation destination is increasing and you better be a MILLIONAIRE if you want to live like one. I wonder what happen with all the suppose residency rules?
I wonder why full amenities rights are assignable to renters? Perhaps I misunderstood the marketing people?

I think that the Villages can prevent people from buying a house if they know they are buying it to rent out; but, the Villages can not prevent a homeowner from renting out their house once they have bought it. So, if someone comes in the sale's office and want to buy 2 or 3 homes, the Villages can prevent them from buying them, knowing they are going to rent them out. However, many people who already own homes in the Villages have legitimate reasons to rent out their homes and once they own them, I don't think the Villages can prevent them from doing so.

As a full time resident with only one home, I purchased a home here to live out my time and to make The Villages my home town. Those who purchase with the intent of renting have one motive and that would be making money. The life style here is second to none. That is their right but our reasons for buying here are fundamentally different.
I don't believe for a second statements like "barely profitable". There is a lot of money to be made here and the number of rentals is a testament to that.

dalecrenshaw: I agree with what you said and in fact defend a homeowner's right to rent their home. However, that's not what I said. What I said is how can a homeowner have a right to assign his amenity rights? Homeowners are doing what they are allowed to do. This issue of assignability falls to The Villages leadership or lack thereof.

Initially people viewed renting as a stepping stone to purchasing a home and in the earlier developing of this community it may sense. However it has moved from a kick the tires to a vacation destination which doesn't make for a unified community. the issue of renting is being manipulated with people who don't even live in TV. ONCE AGAIN I AM NOT TALKING ABOUT RENTERS. THEY WILL ALWAYS GET A WARM WELCOME BY ME. I AM ONLY TALKING ABOUT RENTING AND ASSIGNABLIITY AND THE AFFECT IT HAS ON RESIDENTS

I'm not trying to be argumentative, but as long as the homeowner turns in their Villages ID card, anyone renting that home has access to all the amenities that a resident has. The owner is still paying the amenities fee so, at least to me, it doesn't matter who uses the amenities as long as the owner and the renter aren't both using them.

Two Questions:
1. If the home being rented is owned by one person, when they turn in their single ID, can they get two (or more) quest ID's if they rent to a couple or family?
2. Can a renter, request and get Guest ID's

1- Yes
2- Yes

Rentals increasing?
 

Yes I can. I also do not allow service animals, yes I can legally do this also. I've also been thinking about not allowing redheads as well [emoji851]

outahere: Neither am I being argumentative nor do I hold any malice toward renters.

Specifically all I am asking out loud is what will this community look like down the road if renting would continue unabated and unsupervised and the material affect it may have on my investment? Renting by the way which is transient in nature. The only possible check on rentals, if the situation were to go south, lies with the assignable amenities issue, a factor TV leadership ignored or ignores

I'll forget this issue 10 seconds after I leave TOTV forum

Maybe they like the $50 fee to transfer amenity privileges. I think new deed restrictions can only be made with new houses.