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Updated over 5 years ago, 05/28/2019
Calculating cap ex and repairs for a mobile home park
I realize the answer to my question is "it really depends". Is the park new, is it old, does the park own the mobile homes or just the lots, etc.
In this situation the park owns the majority of the homes (90%), 50% are 2001 or newer, and it's city water, sewer, and electricity. For single families I generally save 10% of rents for repairs and 5% for cap ex.
On one hand mobile homes are more "fragile" than a brick and stick house. On the other they're pretty simple. What are the percentages folks use for such parks? Newish homes, not a lot of deferred maintenance? Same question if all homes were sold off, and it was just a lot rent park?
Thanks!