Mobile Home Park Value Add

[Matthew Murray]

Hello BP community, I was curious to know what are some of the ways value can be added to mobile home parks? I’m looking to make my first purchase and would like to see how I can improve this property. 

[John Jacobus]

A few ideas, all of which require research and feasibility assessment as they depend on local regulations and/or affordability / demand in your market:

1) add additional lots by developing unutilized land

2) add storage space / shed for residents to rent for a monthly fee

3) offer a cable or bundled cable / phone / technology package to residents; buy services at wholesale rates and sell to residents at discounted retail rates

4) adjust rents based on size / location / views/ambience of lots in the park

5) bill back water/sewer/trash, where applicable 

6) offer billboard/advertising space if your park has decent traffic visibility

7) lease space on property for cell tower operator 

8) cut grass on residents’ lots for a fee

9) paint/wash/skirt homes of residents for a fee

10) fill vacant lots / vacant land with area for long-term parking for boat/RV/equipment