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Brief History on Venice Isle Estates

Venice Isle is a resident owned
55+ Community of 992 homes.

Prior to December 1996, a private (for profit) corporation owned Venice Isle. All lots in Venice Isle were rental lots. Residents owned their mobile home and rented the land the mobile home sat on.

In December 1996, about 604 of the residents of Venice Isle, got together and purchased the mobile home park from the private corporation. The residents formed their own (not for profit) corporation. (Today we have 957 Shareholders).

They sold shares of the corporation. In return for being a shareholder they get a proprietary lease on the land the mobile home sits on. The proprietary lease is the instrument, which transfers all Real Estate Property rights for a particular lot. It gets taxed like real estate; it transfers like real estate, it is all the rights of real estate. You donít own the land; you own the rights to the land, and a portion of the entire park.


 
The 35 Residents, who havenít purchased their share, pay a lot rent to the Corporation. These amounts vary depending upon which designation they are. We have six (6) different lot designations.

All lot rent fees include cable television, lawn mowing, edging and use of the park facilities.

Residents who have purchased their share pay a maintenance fee. The maintenance fee includes cable television, lawn mowing, edging and use of the park facilities. Shareholders have an annual election to vote on the Board of Directors, who then have monthly meetings to set park policy.

TAXES: Homes owning the share pay real estate tax, based on the county tax assessment of the property. Shareholders purchase a one time only RP (real property) sticker(s). If you qualify you can get a homestead exemption, which can take up to $50,000.00 off your assessed value.

GARBAGE: Garbage pick up is included in your county taxes.

WATER/SEWER: is not included in the park fees. Each home is individually metered and you will receive a bill for your home. They have a monthly minimum charge of approximately $28.00.

CABLE TV: The Park gets cable TV at a bulk rate and requires 100% participation. We receive up to the premium channels. HBO, ShowTime and pay per view are available for an additional cost as well as high speed Internet.

Additional costs to maintain a home in Venice Isle above the maintenance fee may include, but not limited to, water/sewer, electric, telephone, Real Estate Taxes, Insurance, pest control, trees and shrubbery maintenance, and up keep and maintenance of your home.
 

Venice Isle Real Estate Sales, Inc.
603 Roma Road
Venice, FL 34285
Phone 1-941-485-7743
Fax 1-941-488-7601
Neville C. Demo - Licensed Real Estate Broker

 

 
 
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