Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#1
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We are renting our home winter of 2020 for first time, need advise
We would appreciate advice about a lease, security deposit, charging the total amount up front, etc. We already have a renter and an agreed upon monthly rate. Thank you.
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#2
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Other than that be sure to specify how many adults are to be staying in the house for the lease price and lease period. I know of one instance that 4 couples were sharing a rental and only paying for two adults. They also were bragging that they knew that as long as they were in the water at the pool they would not be asked for their guest passes which all of them would not have had.
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#3
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rental management companies often post their lease online so you can see how they do it. one good clause I learned to put in the hard way is that if someone sues me and loses I am entitled to compensation of reasonable legal fees. i also did an application requiring their social security number, phone number(s), and previous addresses so I could do a nationwide background check looking for previous evictions and prior convictions. video the premises with a witness prior to move-in. create a detailed 'punch list' listing everything in each room for them to sign as 'ok' or 'not ok' to have a written record of move-in condition. my lease allowed me entry each month to change the filters, which is a good practice plus I got to see inside.
when i started in 1978 my lease was one page long. one year ago my last lease was 18 pages so there's a lot to cover. the key is always the tenant. if you get a good one your life is golden. if you get a bad tenant your life can turn brown and smelly. good luck! |
#4
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Check your insurance and licenses to do business.
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#5
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Quote:
For sure get all the money before they move in, don't charge BELOW market rent, and get a security deposit and NEVER waive the cleaning fee.
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Packer Fan Oak Creek, Wi Village of Hillsborough and Fernandina Snow Flake until I retire |
#6
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Charge occupancy tax. The state will catch you if you don't register and pay it. Now the matter becomes do you roll the tax into your price or add it.
Have you located and prepared a temporary ID form? Do you pay the 50.00 fee of do your guests? Who addresses any problems with the property? Do you have a home watch person to address this? Have you priced your home considering renters invariably use more utilities than you as a owner will? |
#7
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Quote:
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"The secret of successful managing is to keep the five guys who hate you away from the four guys who haven't made up their minds." - Casey Stengel |
#8
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If you get a good tenant the lease will mean very little and if you get a bad tenant the lease will mean even less.
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#9
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Don't include a golf cart unless you have liability insurance covering a golf cart rental. Also, make sure your rental agreement prohibits the tenants from running an AIRBNB. If you want to significantly expand your potential universe of renters, allow the tenants to have a dog.
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#10
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So you got a bunch of advice from people who have never been a landlord- I will give you a few tips
1. Have a lease, they are easily obtainable online. make sure they have a release of liability clause. 2. Get money as follows- 1/2 with signing of lease, 1/2 plus security deposit 60 days before move in - if this is not OK with them RUN! 3. Rent needs to be all inclusive, except the $125 cleaning fee that comes out of the Security deposit. 4. If you are not local, get a good home watch/Cleaning crew. This is critical. They are your eyes and ears. However, always have renters call you first. 5. Get a good umbrella policy for a few million on yourself, costs like $15 a month. You never know. 6. Never waive the cleaning fee. Sets a bad precedent - and the ones who say they are SO CLEAN never seem to be any better than anyone else- they are just trying to pay less. 7. Make sure you have a recliner, a grill, Cable TV, and a Golf Cart if you want to rent anything other than high season. You can get away without those if you just want Jan-March. 8. Look on VH4R at the type of home you have and look at what people charge- price accordingly. 9. As I said before phone interview all potential renters. You will find out most have rented before. Get a reference and check. 10. Keep house well stocked with Towels and Dishes- like if you lived there - if you do this, they will return each year. 11. Advertise on VH4R and nowhere else - every other site is secondary... really no need. Hope that helps.
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Packer Fan Oak Creek, Wi Village of Hillsborough and Fernandina Snow Flake until I retire |
#11
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many thanks for all the advice, greatly appreciated!
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