[Junebugs]

I'm sure that many have done this, so maybe someone can tell us, how easy or difficult is it to rent a house? Has anyone bought a house and rented it for several years until they retire to help pay down the mortgage?

[kfierle]

I have been renting my house since January 2009. I will not retire until 2013 and wanted to offset some of my costs and take advantage of the lower home prices when I purchased. I rent my villa as a turnkey unit. I have been extremely fortunate to rent it for most of the year. I rented it for 8 months during 2009 and 8 months so far during 2010. I already have it rented for 3 months during 2011. I subscribe to a website to advertise my place for rent, handle the rental contract and all monies, and use a house watcher to take care of any problems that may arise.

The income from the rental does not cover my mortgage and other expenses. You need to have additional funds to do that. It does help offset any costs I do incur and at times helps pay the mortgage. If you do decide to rent, keep very detailed records and receipts of all expenses related to the rental.

Send me a private message if you want more detailed information.

[olgreeneyes]

Hi! I am a newbie to both the Villages and this forum, so please have patience with me! I just read your posts about renting homes and tried to contact you for more information, but can't seem to get through. I'm sure it's me- please help

[l2ridehd]

I have two homes, one I rent as much as possible and my personal home I rent a few months a year to friens and people who have rented my other home and were great tenants. The rental I have one couple who takes it 6 months and am able to do another month or two each year. So between the 8 months there and 3 months in my personal home, the rental is covered 100%. I also use a web site and handle monies and contracts myself. Also use a home watch person to help out. So far it has worked well.

[kfierle]

Originally Posted by olgreeneyes

Hi! I am a newbie to both the Villages and this forum, so please have patience with me! I just read your posts about renting homes and tried to contact you for more information, but can't seem to get through. I'm sure it's me- please help

If you are trying to send a private message to someone, just click on their forum name and select send a private message to . . .

[Ohiogirl]

I used 2 websites the last year, 1 for the 3 years prior. We're moving down this fall (starting out as snowbirds), so expect this to be the last year we rent it out, don't think it's worth it to rent in summers only as that is when you get the lowest rents. Besides, we'd have to move all our stuff out of at least the MBR closet and drawers, etc.

I handle all the leases, money, etc. myself. Got higher rents and more months rented once I purchased and included a golf cart after the first year, also several repeat tenants. Last couple of years I rented about 8 mos as well. I will rent weekly offseason, but also rented a month every summer to at least 1 tenant, sometimes more.

I also use a Homewatch service to meet tenants and be there for problems/questions and when it's vacant, they check it weekly, have a cleaning guy I contact by email. Use electronic checks for just about everything, and also keep a detailed spreadsheet for tax purposes.

Has worked well for me, but as the previous poster said, don't expect to cover a mortgage. Has also allowed me to make deductible improvements.

Has been very little wear and tear, probably about the same as if we lived there. I've been going down 2-4 times a year to check on it, oversee and do some maintenance/improvements. Sprinkler system and weeds are the biggest headache when you're not there to see what's happening. Sprinkler heads get clogged, and even though the lawn service sprays for weeds so they are not too awful, always notice something.

It's like having a part-time job, so if you are really pinched for time, or don't feel you have the interest or expertise to do it, then I'd use one of the management companies that handle everything for you. Not sure what the percentage is that they charge, but think it's at least 15%.

[ijusluvit]

J D Management manages everything renting my home. Like some other similar companies, there is a 15% commission on gross rents. I consider that a good deal for me. They have rented my place almost every month I'm not there and things have worked out very well. I agree with the comments above about the positives of renting. Because my northern home is so far away, it's not feasible for me to try to advertise, screen tenants and supervise the property.

[Pturner]

Originally Posted by olgreeneyes

Hi! I am a newbie to both the Villages and this forum, so please have patience with me! I just read your posts about renting homes and tried to contact you for more information, but can't seem to get through. I'm sure it's me- please help

Here's how to send a Private Message (PM):

1. Click on the name of the person to whom you want to sent a private message. A drop-down menu will appear.
2. Select the second option, "Send a private message to [name]" An email window will appear.
3. Type a Title for your message.
   Hint: This is important. If you don't give your message a title you'll get a dreaded error message when you try to send it.
4. Type your message in the message field.
5. Hit "Submit Message"

That's it! Off it goes. If you have any problems, send me a PM.

Sorry. Just post here and let me know if you were able to do it.

[linandvin]

We have friends on LI that would like to rent a 2bd/2ba unit for January and February. How should I advise him to proceed? Deal with the Villages or a rental company? thanks,

[Shirleevee]

[QUOTE=linandvin;279590]We have friends on LI that would like to rent a 2bd/2ba unit for January and February. How should I advise him to proceed? Deal with the Villages or a rental company? thanks,[/QUOTE


Right here on your left as you read this is a rental site. Click on For rent?sale by owner and search for what kind of rental you would like. It is very easy to navigate. Any questions, PM me.

[Jim B.]

We have had our villa on the rental market since June. It is pet friendly; the management company said that way we could rent it all the time. So far, it is rented Jan, Feb, Mar, 2011. We are not happy with this. What management company do you use? We are not getting any extra for pets (the management company gets non-refundable deposit, but I feel it is just a way for them to make extra $s). Should we make it pet friendly or doesn't it make a difference. We are afraid of damage that the management company will not notice. Don't know when we will be down there to inspect it ourselves. Thanks for any info you can offer.