All Forum Posts by: April Eilers

Fellow investors,

My husband and I are debating which area has higher vacation rental demand and future equity growth:

1. 1. Far southwest quiet side of Mount Desert Island (Tremont)

1. 2. Lamoine

We’re looking for some local expertise to provide some input. Thank you.

It’s a small world :) 

Thanks for the info! Yes, we own Argosy. 

Thanks for the reply! 

It has been our understanding that MHP lots can be rented to RVs without limitation so long as the RV spots are not rented on a nightly basis or for less than 3 months. This understanding is based on NRS Chapter 118B, which lays out the following definitions:

NRS 118B.016  “Manufactured home lot” or “lot” defined.  “Manufactured home lot” or “lot” means a portion of land within a manufactured home park which is rented or held out for rent to accommodate:
1.  A manufactured home; or
2.  A recreational vehicle for 3 months or more.
(Added to NRS by 1985, 2216; A 2001, 1171)
NRS 118B.017  “Manufactured home park” or “park” defined.  “Manufactured home park” or “park” means an area or tract of land where two or more manufactured homes or manufactured home lots are rented or held out for rent. The terms do not include an area or tract of land where:
1.  More than half of the lots are rented overnight or for less than 3 months for recreational vehicles.
2.  Manufactured homes are used occasionally for recreational purposes and not as permanent residences.
(Added to NRS by 1985, 2216; A 1987, 931; 2001, 1171)

The RV spots at our park are permanent residences and are not rented nightly or for less than 3 months, so pursuant to the code referenced above, we feel that we are appropriately renting spaces in compliance with the current MHP land-use designation and that reclassification to a recreational vehicle park would not be appropriate.

Did Jerry provide a reference to the code regarding her concerns? I’m wondering if she is mistaken since she is new to the role. 

This is helpful! Thanks for the reply :). 

Hi All, we own a 17-space MHP in Hawthorne, NV. We are looking to sell the park and have had several prospective buyers inquire about the possibility of subdividing the lots to increase the number of spaces. How would we go about determining whether or not this would be feasible? Thanks! :)

Hi Everyone! We are trying to sell our MHP in Hawthorne, Nevada and feel that the return could be greatly improved (and hence the appeal to buyers greatly increased) if we were to raise the lot rent. Based on our research, high demand when we advertise a spot, the fact that the park is fully leased, and input from locals, we think our current lot rent is well below market value. What are your opinions about whether or not we should try to raise the rent during the pandemic and what a reasonable increase would be? The current lot rent is $225/space (water included) and the last increase was two years ago. Thanks! 

Hi Everyone! We own an MHP in Nevada and are wondering if the eviction moratorium applies. From what I've researched, in some instances, it does not apply to MHP lot rent, but I haven't been able to find the specific criteria. Thanks!

Thanks for the tips! :)

We own a mobile home park in Nevada that we are selling ($320k). We have had a number of buyers that are interested but can't get financing due to the fact that we only have one year of rent rolls. Most lenders seem to need 2 years of historical information. Do you know of any traditional commercial lenders that would write a loan without 2 years of historical info? Otherwise, do you have suggestions for alternative sources of financing that I could suggest to my buyers? Is hard money the only option? Thanks in advance!