asianthree |
04-12-2025 05:34 AM |
First home Rental PV in Caroline. Roughly 60% private rentals that was used for LSV. So short term rentals, used by developer.
Second: PV New, in Pennacamp. The first year was a ghost town. Few homes were occupied full time, with majority seasonal rentals, which didn’t include short term rentals. After a year about 40% rentals, by year 4 only a small percentage of rentals.
Third: Cottage New in Fernandina. Purchased as an investment. 60% rentals the first year. Year two 30% rentals, however 1/3 like ours were unfurnished long term, tight knit area due to lack of seasonal rentals. No STR (short term rentals of 1-7 days) for 10 years.
Fourth: Designer Preowned, established area 95% full time original owners. Change of ownership was not welcomed by some residents. However due to age, within 2 years, rentals increased due to loss of spouse, or moved to memory care. Once sold many bought as investment, mostly seasonal, with a percentage of STR.
Fifth Premiere New. First year, some homes occupied by owners seasonally, for first year.
Other areas of village, many STR for the first year, with some seasonal rentals. At one year mark, many STR sold (rumor was due to proximity & some VLS investor owned). Year two Premiers & Designer, mostly full time. PV, and Cottage still have about 30-40% seasonal and STR
So from 2007- 4/2025, new neighborhoods provided a fair amount of rentals, awaiting original owners to retire. Timeline about 1-3 years.
Older Preowned neighborhood STRs more abundant as investment property, down the road, as they age out of homes.
So new Village % of rental higher first 1-2 years, with younger residents moving in. Established areas, depending on age of residents and Village, rental becomes more prevalent, with a mix of Old, and younger buyers. Sometimes younger and renters are not well received by long term original owners.
On a personal note I did find less tolerance of ethic acceptance in older villages between the 6’s compared to south of 44. Could be due to younger residents and different values.
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