[ComingfromCT]

What are your experiences with renting out your house or investment property?

My wife and I am in the midst of buying a house in TV, Yeah! We are not financially quite ready to retire and move in yet but wanted to buy before the house prices went up any higher. So, we plan to rent our place unfurnished for a year or more.

The question is do we have the Villages rent our place or do we try to do it ourselves. I figure that you all probably could tell us how easy or hard the process of renting out a place is.

Lastly, I don’t probably know how to properly use the site so please up front, let me profusely thank you all! The few questions I have put up in the past have been met with greatly helpful answers and offers. You have all been so kind!!!! Thank you!

So………. Do you have any comments, suggestions, words or wisdom in regards to renting an unfurnished home at TV??

[Malsua]

Originally Posted by ComingfromCT

What are your experiences with renting out your house or investment property?

My wife and I am in the midst of buying a house in TV, Yeah! We are not financially quite ready to retire and move in yet but wanted to buy before the house prices went up any higher. So, we plan to rent our place unfurnished for a year or more.

The question is do we have the Villages rent our place or do we try to do it ourselves. I figure that you all probably could tell us how easy or hard the process of renting out a place is.

Lastly, I don’t probably know how to properly use the site so please up front, let me profusely thank you all! The few questions I have put up in the past have been met with greatly helpful answers and offers. You have all been so kind!!!! Thank you!

So………. Do you have any comments, suggestions, words or wisdom in regards to renting an unfurnished home at TV??

I'm only speaking from my experience here, your mileage may vary.

We bought 3 years ago and rented the place out during high season ourselves.

I created a website as well as advertising on TOTV. I have had no trouble finding monthly renters during high season and picked up some stragglers in Nov/Dec/April/May.

We visited when we could when the place wasn't rented out.

About 2 years in, the wife figured out we wanted some place with a view that wasn't a villa wall, so we bought a 2nd TV home. We have been renovating that one since Feb of this year. We moved into our first home in April and have been full time TVers since.

We are keeping the first place and moving into the newer place this week.

If you want a completely hands off approach and don't care about the 20+% in management fees, hand it off to management company.

If you want to use the home throughout the year, do it yourself, you will definitely get renters Jan/Feb/Mar that will cover much of your yearly expenses. If you can pick up a few other months it becomes net positive income.

It is work though. You need the place set up to rent and be prepared to fix things that break. You should find a cleaner too. We clean, then get a cleaner to come in and get what we might miss and add some shine.

We offer a cart with our rental too.

Good luck.

[Babubhat]

So did anyone have problems getting rent paid due to the pandemic laws barring rent collection?

[Bay Kid]

Just can't make myself rent my home to strangers with my personal belongings. I have 3 rentals, but they aren't my home.

[kkingston57]

Originally Posted by ComingfromCT

What are your experiences with renting out your house or investment property?

My wife and I am in the midst of buying a house in TV, Yeah! We are not financially quite ready to retire and move in yet but wanted to buy before the house prices went up any higher. So, we plan to rent our place unfurnished for a year or more.

The question is do we have the Villages rent our place or do we try to do it ourselves. I figure that you all probably could tell us how easy or hard the process of renting out a place is.

Lastly, I don’t probably know how to properly use the site so please up front, let me profusely thank you all! The few questions I have put up in the past have been met with greatly helpful answers and offers. You have all been so kind!!!! Thank you!

So………. Do you have any comments, suggestions, words or wisdom in regards to renting an unfurnished home at TV??

We did this two years ago. Suggest using a local agent, unless you have someone around here who can help you. For example if there are any problems they have the resources to find someone to take care of the problem. In addition someone is going to need to show your house to persepctive renters. 2 years ago year round rentals were difficult. Not a lot of demand for 12 month rentals. We rented out a 3/2 and felt lucky to get $1500 a month and the renter did not pay the amenity fees. Without a mortgage we netted out $750- $850 a month. Was a good tax write off for us.

Good luck. In our case our tenant was better off than us.

[JoelJohnson]

Renting out a house is like buying a used car, if you don't know what you're doing, you'll get burnt.

[manaboutown]

My father had anywhere from half a dozen to a dozen rental houses while I was growing up. I was the slave who mowed the grass and took care of the yards, cleaned up and painted to prepare for the next tenant. What I learned is there are good tenants who treat the property as if it is their own and bad tenants who can cause more in damages than they pay in rent (if you can even collect the rent). There are a few in-between, OK, but not great.

It is important to qualify tenants, obtaining their credit reports and getting rental histories from past landlords. Many communities have landlord/apartment owner associations which keep databases on the histories of tenants, whether they pay on time or not, damage property and so on.

Most seasonal or week to month(s) long tenants in TV will be 50 and over, own their homes "up north" and be renting as snowbirds, to scout the place out to buy or just see if they like it. They will tend to be responsible people and gentle on wear and tear. Nonetheless if it were me I would check them out. Year to year tenants I would vet completely as I would anywhere.

[rjm1cc]

This site might be of interest VH4R Home Rentals in The Villages Florida The Villages Rentals
As a renter I would not want to move all my stuff into your home for a year. I would store it and rent for a shorter period in a furnished home. I could see renting a furnished home for a year. But then why would I want to rent for a long period of time in the villages? I would rent for short periods or buy a home. I think you will have problems.

[Rainger99]

[QUOTE=ComingfromCT;2039168]What are your experiences with renting out your house or investment property?

My wife and I am in the midst of buying a house in TV, Yeah! We are not financially quite ready to retire and move in yet but wanted to buy before the house prices went up any higher. So, we plan to rent our place unfurnished for a year or more.


From my limited experience, it will be very difficult to rent an unfurnished house. Most of the rentals are furnished. Also, you will be competing with landlords who bought several years ago - you can make money as a landlord if you bought for $150,000 to $200,000 as opposed to buying for $250,000 to $300,000.

[Papa_lecki]

Seems like the need is in shorter term rentals in furnished houses.

[eeroger]

Originally Posted by ComingfromCT

What are your experiences with renting out your house or investment property?

My wife and I am in the midst of buying a house in TV, Yeah! We are not financially quite ready to retire and move in yet but wanted to buy before the house prices went up any higher. So, we plan to rent our place unfurnished for a year or more.

The question is do we have the Villages rent our place or do we try to do it ourselves. I figure that you all probably could tell us how easy or hard the process of renting out a place is.

Lastly, I don’t probably know how to properly use the site so please up front, let me profusely thank you all! The few questions I have put up in the past have been met with greatly helpful answers and offers. You have all been so kind!!!! Thank you!

So………. Do you have any comments, suggestions, words or wisdom in regards to renting an unfurnished home at TV??

A neighbor furnished their rental with nice items picked up at Thrift Stores. That may be an option for you & make the home a more attractive rental.

[Lettucelady]

As a landlord in the Villages for the last two years and up north for the last 20 years, I will say the two markets are considerably different. The is actually a Facebook group for Landlords of the Villages which might be of some help.

It is definitely a workable idea for a lot of folks .

[ComingfromCT]

We also thought that renting a place unfurnished seemed strange but supposedly there is more demand than supply in this renting arena (unfurnished house rentals) in the Villages. The rentals are 6 months to one year (long term).

My question was more to other Villagers who are renting their properties by themselves. What have your experiences been like. What are your thoughts/suggestions/wisdom from your experience?

[Luggage]

Has most will point out oh, you need to furnish your home, but it can be done in expensively since there is so much furniture at the thrift stores for 75% off or more. Don't forget to include pots and pans dishes some towels as well and of course you need to buy some beds they don't have to be expensive but you have to figure several thousand dollars upfront lamps TVs etcetera

[pjvishton]

I am interested in renting for a year I am retiring in 3 weeks I think I will like the villages and am planning a first time visit soon My wife and I keep things meticulous 585 968 2210 we are in our low 70s