[jimmyinvillages]

Hi Folks,

Looking to hear experiences from landlords who have rented out their homes directly themselves using either Rent from a Villager or Villagers Homes 4 Rent?

-how did you find the two sites in terms of tenant interest/inquiries?

-how long on average did it take you to rent out for long-term leases only (not looking for short-term)

-any key learnings/recommendations?

Not looking to rent out immediately but gathering some info and interestingly all the reviews from the established property management companies are all terrible, so curious if people loved/struggled trying to rent it out directly themselves.

Thank you for any helpful advice.

[asianthree]

Only used Village4rent. From 2011-2022. Long term only. Each home started with one year lease, with option to renew 90 days prior to lease end date. Our average yearly response 65 applications. Narrow to 5 within a week. Ran background, references sometimes can just a a friend or family, not a previous landlord. No Pets, No Smoking.

Of our three rentals the tenants stayed 3-11 years. Zero issues but sometimes gut feelings made our decision, which worked well. We required deposit of one month, plus first and last month rent.

No idea how the market stands today, but the type of home make a difference

[dougjb]

Villages 4 Rent was reasonable and easy to work with.

With that said, I have always found it to be very important to screen my tenants very carefully. I do not want to have problems. I do not want tenants to move in and out on a regular basis. I check references (but whoever can't come up with a decent reference is probaly a real loser), I check the vibe. I have found some great tenants through the above service. But, they just referred prospects to me. The rest was on me...which it should be!

I tried using Down Home once. That was more than enough. They were terrible. They rented my place for less than what i asked for. As an out of town landlord, I thought I needed a property manager. They failed that test. They were not responsive to telephone calls. They were not responsive to emails. But, they did take their share of the rent money. I would NEVER recommend Down Home to anyone...whether they be landlord or tenant!

[BMill]

Originally Posted by asianthree

Only used Village4rent. From 2011-2022. Long term only. Each home started with one year lease, with option to renew 90 days prior to lease end date. Our average yearly response 65 applications. Narrow to 5 within a week. Ran background, references sometimes can just a a friend or family, not a previous landlord. No Pets, No Smoking.

Of our three rentals the tenants stayed 3-11 years. Zero issues but sometimes gut feelings made our decision, which worked well. We required deposit of one month, plus first and last month rent.

No idea how the market stands today, but the type of home make a difference

We were looking to come up first and rent for a month with the end goal being a future buy and doing a 1031 exchange of a rental we have now. A realtor contacted me and the rents quoted were much lower and disappointing than what I had been thinking of.

When I questioned her more about it, she told me if we had a pool, it would rent at a better price.

You can give me a range of the rents you got. (2020 to 2022).

Thanks!

[asianthree]

Originally Posted by BMill

We were looking to come up first and rent for a month with the end goal being a future buy and doing a 1031 exchange of a rental we have now. A realtor contacted me and the rents quoted were much lower and disappointing than what I had been thinking of.

When I questioned her more about it, she told me if we had a pool, it would rent at a better price.

You can give me a range of the rents you got. (2020 to 2022).

Thanks!

Go to the website, today’s market is much different than pandemic rent. However a home with a pool rent can be $6,000 to $12,000 a month. You also need to stipulate heating/chilling pool is not included in rental. You also need a separate deposit if they chose to heat, that money can be deducted, rent is only for two adults. Any guests remain on property is an additional fee.

Any tampering with pool controls automatically voids rental agreements.

99% of the time a 3 months pool rental upfront monies either long term or seasonal is $30,000 to $40,000. Those forking out that cash is rarely a problem

[vintageogauge]

I put a sign in the window and it was rented long term unfurnished immediately. 2 years later I sold the villa and the tenants were still there and are still there today. Neighbors always seem to know someone looking to rent.

[FLSunshine]

Originally Posted by jimmyinvillages

Hi Folks,

Looking to hear experiences from landlords who have rented out their homes directly themselves using either Rent from a Villager or Villagers Homes 4 Rent?

-how did you find the two sites in terms of tenant interest/inquiries?

-how long on average did it take you to rent out for long-term leases only (not looking for short-term)

-any key learnings/recommendations?

Not looking to rent out immediately but gathering some info and interestingly all the reviews from the established property management companies are all terrible, so curious if people loved/struggled trying to rent it out directly themselves.

Thank you for any helpful advice.

The Villages is very saturated with rentals. There are quite a few landlords selling their houses because the rental market is so saturated. In the past, renting a house in The Villages used to be a great investment. Now, many landlords are investing elsewhere. Continue doing your homework before jumping into the rental market.

I've used both sites for many years. Feel free to contact me with questions.

[Packer Fan]

Originally Posted by BMill

We were looking to come up first and rent for a month with the end goal being a future buy and doing a 1031 exchange of a rental we have now. A realtor contacted me and the rents quoted were much lower and disappointing than what I had been thinking of.

When I questioned her more about it, she told me if we had a pool, it would rent at a better price.

You can give me a range of the rents you got. (2020 to 2022).

Thanks!

I have a been a villages landlord for 10 years, 2 homes. I moved into one this year which was the plan, and am selling the other next year and taking the cap Gains. At current prices it doesn't make sense in TV and the market is very saturated with rentals. Why the reluctance to cash in your earnings? If your retiring, then retire. Put the cash in bonds at over 4% and be done.

[CoachKandSportsguy]

Originally Posted by Packer Fan

At current prices it doesn't make sense in TV and the market is very saturated with rentals. Why the reluctance to cash in your earnings? If your retiring, then retire. Put the cash in bonds at over 4% and be done.

Agree with this analysis, if you want to invest in real estate, buy REITS. . then you can cash out whenever you want. We ended ours this year, and are going to move down within the year.