[pauld315]

If this is true, I may sell my current house and buy one in the restricted areas

[gail swanson]

Originally Posted by Laker14

On another thread a poster mentioned that when he/she bought a new property from the developer in one of the newer sections, they had to sign a contract that explained that the property could not be rented out.

I didn't want to hijack that thread with questions, so here goes.

1. Is that accurate?

2. When did they start that practice?

3. What would the developer's likely motivations be for such a covenant? Wouldn't it make the market for their homes more desirable if folks wanting to buy as an investment were also able to buy the new homes?

I'm not understanding this at all.

Our friends bought in Citrus grove and rented it immediately to an annual renter. Bought it totally furnished and rented through the Villages rental department. This was in January.

[Stu from NYC]

Love living here but it seems to me the developer has more and more power over this place.

[JMintzer]

Originally Posted by gail swanson

Our friends bought in Citrus grove and rented it immediately to an annual renter. Bought it totally furnished and rented through the Villages rental department. This was in January.

Re-sale or new home?

[NoMo50]

Friends bought a brand new home in St. Johns, and closed last week. They rented the home out immediately, with their tenant moving in April 1st. Since St.Johns is the newest Village to open up, I would say the answer to the original question is "no".