[celticsj]

Hello, my wife and I are closing on a house in July. We are both teachers and have signed teaching contracts for this upcoming year, so we cannot move to TV until next summer. We hope to rent out our property until we can move here permanently and need help doing this. Is it better to hire a property management company or list it ourselves and then hire services to clean and take care of lawn care for us? Any suggestions or recommendations are greatly appreciated! Thanks!!

[retiredguy123]

If this is a new house I cannot imagine renting it to strangers. If it is pre-owned, be very careful to whom you rent it. If you are out-of-town, and you are not experienced landlords, you may need to hire a property management company. It would be difficult to manage repairs and maintenance from out-of-town, especially if you are not familiar with the area. Ideally, I would not rent the house, if possible. Don't expect to make a lot of money.

[asianthree]

If you aren’t coming down consider long term un furnished. Your only cash out is lawn/pest VCCD bill.
Our first year we used a highly recommended company. Our contract rental was 6 months or longer. Not only did they rent short term 2-4 days their cleaning staff was stealing us blind. We flew down on an unannounced visit, found their cleaning staff car in our driveway with pictures, espresso maker in the box, new clothes from a locked closet.

As police report filed the owner showed up denying any loss. After the officer politely explained this is what was in your employee car, here are detailed pictures from the owner of each and every item taken 4 months ago.
Fired them and for 14 years rented on our own long term with great tenants

[retiredguy123]

Originally Posted by asianthree

If you aren’t coming down consider long term un furnished. Your only cash out is lawn/pest VCCD bill.
Our first year we used a highly recommended company. Our contract rental was 6 months or longer. Not only did they rent short term 2-4 days their cleaning staff was stealing us blind. We flew down on an unannounced visit, found their cleaning staff car in our driveway with pictures, espresso maker in the box, new clothes from a locked closet.

As police report filed the owner showed up denying any loss. After the officer politely explained this is what was in your employee car, here are detailed pictures from the owner of each and every item taken 4 months ago.
Fired them and for 14 years rented on our own long term with great tenants

I would point out that the OP said they will only be renting out the house for one year. I think it will be difficult to find a good tenant who wants to rent an unfurnished house and then move out in a year.

[OrangeBlossomBaby]

Originally Posted by celticsj

Hello, my wife and I are closing on a house in July. We are both teachers and have signed teaching contracts for this upcoming year, so we cannot move to TV until next summer. We hope to rent out our property until we can move here permanently and need help doing this. Is it better to hire a property management company or list it ourselves and then hire services to clean and take care of lawn care for us? Any suggestions or recommendations are greatly appreciated! Thanks!!

I think this is something you probably should've figured out for yourselves before buying a home.

You aren't going to find tenants willing to furnish the home themselves, for just one year, and then be expected to move everything back out again.

So you'll have to buy an entire house worth of furniture for your new home, before you even offer it for rent. July is just one week away.

I would recommend you contract with The Villages Hometown Property Management to handle oversight on your property until you're ready to move in. They're more expensive than others, but they are affiliated with the Developer and will do everything possible to ensure that your property complies with the rules, is rented by vetted tenants, cared for meticulously, and is in tip-top shape when you come down to take occupancy.

[Aces4]

Originally Posted by retiredguy123

I would point out that the OP said they will only be renting out the house for one year. I think it will be difficult to find a good tenant who wants to rent an unfurnished house and then move out in a year.

A one year tenant isn't that difficult and if the OP wants to make really good money without tying up the home for the year, rent it seasonally. You have to remember some people providing advice for your question don't like renters and will make doing so look extremely difficult.

There are many people with rental properties in TV's and I hope they respond shortly with some good insight for you.

[retiredguy123]

Originally Posted by OrangeBlossomBaby

I think this is something you probably should've figured out for yourselves before buying a home.

You aren't going to find tenants willing to furnish the home themselves, for just one year, and then be expected to move everything back out again.

So you'll have to buy an entire house worth of furniture for your new home, before you even offer it for rent. July is just one week away.

I would recommend you contract with The Villages Hometown Property Management to handle oversight on your property until you're ready to move in. They're more expensive than others, but they are affiliated with the Developer and will do everything possible to ensure that your property complies with the rules, is rented by vetted tenants, cared for meticulously, and is in tip-top shape when you come down to take occupancy.

To clarify, they are not affilliated with the developer. They are a private company that manages rentals just like every other company. They manage properties in The Villages, but "Villages" is not in their official name. That is what they told me.

[asianthree]

Originally Posted by retiredguy123

I would point out that the OP said they will only be renting out the house for one year. I think it will be difficult to find a good tenant who wants to rent an unfurnished house and then move out in a year.

Six months to one year you have your pick of multiple applicants. They rent while finding a home, or a certain village. We would have some contact during home renovations.

Every long term on all of our rentals started with One Year. It’s a fail safe, in case you choose not to renew. One house had 3 one year tenants, the other house had a 6 month tenant while their home was being renovated, then a 9 year tenant.

[retiredguy123]

Originally Posted by Aces4

A one year tenant isn't that difficult and if the OP wants to make really good money without tying up the home for the year, rent it seasonally. You have to remember some people providing advice for your question don't like renters and will make doing so look extremely difficult.

There are many people with rental properties in TV's and I hope they respond shortly with some good insight for you.

Thanks for your comments. I think that most homeowners would prefer to Iive in a neighborhood that doesn't have a lot of renters.

We don't know much about the OP, but would you buy a new house in an unfamiliar community and immediately rent it to strangers for the first year? I have been a landlord and it is much more of a hassle than people who have not been landlords often realize.

[OrangeBlossomBaby]

Originally Posted by retiredguy123

Thanks for your comments. I think that most homeowners would prefer to Iive in a neighborhood that doesn't have a lot of renters.

We don't know much about the OP, but would you buy a new house in an unfamiliar community and immediately rent it to strangers for the first year? I have been a landlord and it is much more of a hassle than people who have not been landlords often realize.

Especially if you are making that decision just a week before you close on the property.

[Aces4]

Originally Posted by retiredguy123

Thanks for your comments. I think that most homeowners would prefer to Iive in a neighborhood that doesn't have a lot of renters.

We don't know much about the OP, but would you buy a new house in an unfamiliar community and immediately rent it to strangers for the first year? I have been a landlord and it is much more of a hassle than people who have not been landlords often realize.

I appreciate that question but in our case, yes, we would rent out a new house. Choosing the renters is critical and we have a tendency to make changes prior to our moving into a home anyway.

I know renting is a hassle but sometimes that makes The Villages scenerio possible for those hoping to buy in prior to their retirement. Their investment helps keep TV's healthy financially and continuing to develop without prices dropping for lack of sales. It's a mixed bag of blessings for current owners.

[celticsj]

Originally Posted by OrangeBlossomBaby

I think this is something you probably should've figured out for yourselves before buying a home.

You aren't going to find tenants willing to furnish the home themselves, for just one year, and then be expected to move everything back out again.

So you'll have to buy an entire house worth of furniture for your new home, before you even offer it for rent. July is just one week away.

I would recommend you contract with The Villages Hometown Property Management to handle oversight on your property until you're ready to move in. They're more expensive than others, but they are affiliated with the Developer and will do everything possible to ensure that your property complies with the rules, is rented by vetted tenants, cared for meticulously, and is in tip-top shape when you come down to take occupancy.

Sorry, I should have been more clear in my post. We purchased a used home, turn-key so it is furnished. If we were not teachers with signed contracts, we would be there now

[OrangeBlossomBaby]

Originally Posted by celticsj

Sorry, I should have been more clear in my post. We purchased a used home, turn-key so it is furnished. If we were not teachers with signed contracts, we would be there now

Oh yeah that clarification makes a HUGE difference! You'd have no problem renting the place out until your contract is up. However - something to consider:

Your best chances of finding tenants would be a snowbird situation. You could probably charge enough for a snowbird tenant, to cover the expenses and wear-and-tear on furniture and appliances, if you rented just from September-April. This would also give you a chance to enjoy your new home in the summer, before the school year starts back up again.

I still recommend the Villages Hometown Realty. They're located IN the Villages (their main office is at Brownwood town square) and they have a "home watch" service if it's something you feel you'd need, for when the house isn't occupied. No idea how it works now, but when we rented for a week here and there on vacation, we picked the keys up at the Villages Sales center. They had our keys, guest passes, and a map, and we were required to show our ID to get any of it. It was an excellent experience as a tenant.

[CarlR33]

Should have waited to buy, IMO. You can rent for the Jan-March timeframe but is it worth it for buying towels, sheets, etc for a one and done. Your choice.

[elle123]

Originally Posted by celticsj

Hello, my wife and I are closing on a house in July. We are both teachers and have signed teaching contracts for this upcoming year, so we cannot move to TV until next summer. We hope to rent out our property until we can move here permanently and need help doing this. Is it better to hire a property management company or list it ourselves and then hire services to clean and take care of lawn care for us? Any suggestions or recommendations are greatly appreciated! Thanks!!

You should've waited another year to purchase as prices will continue to drop. By the way, there's a ton of rentals in The Villages that aren't being rented out. If you're lucky enough to find a rentor you'll need a reliable and honest property manager. Good luck on that one.