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Updated almost 4 years ago on . Most recent reply
Mobile Home Park Lot Rent
I’m evaluating a mobile home park in a community that seems to only have parks with park owned homes. Is there a way to figure out what a reasonable lot rent should be for financing purposes and eventual conversion to lot rent only park?
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#3 Mobile Home Park Investing Contributor
- Specialist
- Scottsdale, AZ
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#3 Mobile Home Park Investing Contributor
- Specialist
- Scottsdale, AZ
@Eric Dame a simple rule of thumb is 50% of the rent for a 2 bedroom apartment of similar quality in the same neighborhood.
Also, if I caught your question correctly, all the parks in the area have only POH and are quoting you rental pricing. It is odd that an entire market has parks with only POH. You should find out why they can't sell homes. That would be a red flag to me. Next time you talk to them, ask what they would charge if you brought in your own mobile home?