Bulletin from the Home Front: Rents to go up $25.00 per month for 2013.

We have received word that homeowners who are not shareholders will receive a $25.00 per month increase starting in January.  Clarice Campbell verified today that letters to this effect were mailed on September 25.  Shareholders were not notified of the increase.

This amounts to a $300.00 per year increase.  This past winter I attended a meeting of the Tropicana Home Owners Association.  At that meeting, the main topic of discussion had to do with concerns about rent increases. I did write an article detailing those concerns, but we were asked to remove the piece.  I did so as a courtesy, but now the other shoe has dropped.

Perhaps we will hear the opinions of those who will be subjected to this increase in 2013.  Just click on “comments” below.

Thanks to “Frenchie”  for alerting us to this news.

Thanks to  “Realistic”  for this link to Siesta Bay for comparison purposes:    Siesta Bay rental comparisons

11 thoughts on “Bulletin from the Home Front: Rents to go up $25.00 per month for 2013.

  1. I have a feeling you will see more places for sale now or abandoned. Compare rents at other like parks– ours will be one of the highest.

    The result of the rent increase will be less income for the owners. The downward spiral has begone!!!

  2. Not that I know of. The HOA meeting last winter was about concerns that the rent would be increased in the future.

  3. The shareholders need funds. What did you think would happen. 40+ year old community. $550. run run as fast as you can.

  4. Fine for people that own just a home in Tropicana. Wish I only owned Tropicana. I have two sets of billls and only one wallet. What the ——– is going on.

  5. What do you expect? Like everything else, the costs to operate Tropicana keep going up. In the 5 or so years that I’ve been here, the payment has increased similarly every (?) year. What is it? about 5%/yr.?

    Before Tropicana, I rented at Siesta Bay for about 5 yrs. Their rent increased 5% every year, like clockwork. Look at their rates — And have you compared their lots to ours?

    Editor’s Note: Thank you to Realistic for this reference to Siesta Bay..I have posted that link at the bottom of our article about the rent increase. Paul

  6. As noted above by the editor in his comments, rent increases were a hot topic at the winter THA meeting.

    The Co-op made it very clear that a 5% rent increase is to be expected each year, as it is part of their business plan. These increases will bring the base rate to $600+ per month in the next two years.(Residents will be leaving like rats from a burning barn when this occurs.)

    The base rent in December, 2010, when the park was purchased was $479 per month—increasing to $550 in 2013, a 14.8% increase to date!! I think we need to keep in mind that this is a retirement community, inflation has not increased near this amount, and certainly neither has the average retiree income.

    As noted in the Co-op President’s report dated July 14,2012, since the park purchase, 21 homes have been taken over by the park, and 3 more are in process. This is over one unit per month, and this number will increase as rents increase.

    The loss of $6000+ in annual rental income PER UNIT is not sustainable, since the cost of services, taxes etc does not go away. As stated, some of these homes have been refurbished and sold, but this again is an additional expense, even using volunteer labour, which is beginning to wear thin.

    It has been almost two years since the Co-op took ownership of the park and, like every business, the business plan needs to be reviewed as economic conditions change.
    The time has come to review the Co-op business plan, as THA cannot be expected to continue to subsidize the current plan and shareholders are more than a little concerned about their investment.

  7. WOW!!! Thank you for bringing this to all our attention…What do we do now? We are seriously considering putting ours up for sale too. We are sick of the us against them mentality.I thought we were a bunch of ol’ farts that wanted to relax and enjoy the warm sunshine-not fight about turf wars.

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