Property manager for mobile home park vs apt

[Thuytram Tran]

Hello, I am a brand new investor. After all my researching, I’m most interested in mobile home parks but none that are affordable in my state. I see some out of state ones that are. My question is when looking for a property manager, is there a different process or type of managers that would looking for? My significant other would like to start off with a local park, so we can keep a close eye. Is this even a good idea? The manager‘s payment is usually 10% of the rent right? Thank you! I’m excited to be part of this community.

[Ryan Groene]

for MHP's, there really is a far gap between actual professional property management companies like there is in the apartment world.  Finding a deal is hard as we all know, but you can't just turn it over to a property management team and expect great results in the MHP world.  The real conduit for a successful park is the park manager that you have either live on site or very close.  you essentially will manage them to run the park.  They are the property manager, but they get paid closer to $10-$15 an occupied lot, depending on the nature of their duties.  

Exception, on larger parks/nicer parks, you can afford to maybe higher out the property management services, it is becoming ever more popular, but it is still a long way off from the apartment world.