All Forum Posts by: Reid Hanley

I'm researching costs for providing a trash dumpster to a Mobile Home Park I have under contract.  The current owner is using WM and their current monthly contract rate is $525.  Over $6K per year for trash pick up seems exorbitant to me.  Republic Services website has the same size dumpster priced at $165 per month.  Is there a big difference in service quality between these two providers?  Just can't get my head around why WM is so expensive. 

Any insights from you MHP owners that have used either or both providers?

Thanks BP!

Sorry it's taken a while, but I want to thanks @ryan groene, @Bill F, @Thomas S and @Gulliver R for all the input on this topic.  Great points all.  Thanks guys.

@BillF thank you.  That's great input.

With all of the Dodd Frank and SAFE Act concerns around seller financing I'm wondering if I can simply give a POH to a tenant as part of their rental agreement?  What I want to achieve is passing all home maintenance requirements to the tenants of my mobile home park.  The homes in this park are all 70s-80s era homes and really don't have a lot of value.  All need a some repair, mostly minor age related wear and tear, but some need a lot and a full rehab on these would be more than the value of the trailer.

Anyone done this before?  Is this legal under DF and SAFE?   Thanks BP for any input.

Reid

I have a 22 pad MHP under contract and am doing my DD.  The seller's agent is telling me that the seller currently collects most all rent in form of cash that he stops by and collects each month.   I don't want to continue this for several reasons like safety, record keeping,...etc.  But there may be good reasons to allow it?   First of all there are many longer terms tenants in place that are used to paying this way.  What are you MHP owners doing in terms of collecting rents from large numbers of tenants?

Thanks BP! 

Thank you @c.k.ebert and @ryangroene.  Both great input. 

Thanks @jonathanpreciado.  I'm considering those too.

I have just purchased three 70s era MH’s and all three have window units installed in windows. All have water damage around the window sill and wall below from condensation leaking. I’ve seen window units permanently installed through exterior walls in other MHs. Is this a good idea or bad? I like the idea since it takes wear and tear off of the window and allows more light into the unit. But don’t know what the downsides would be. Any thoughts?

I am submitting a contract on a 22 pad MHP that currently are all POH. The rental rates are under market so there is good opportunity to increase NOI with rent rate increases. Another opportunity I see is there is a cinder block garage on the property that is not in use that has plenty of room to add some washers and dryers. None of the homes have W/D hook ups in them so I think this would be a welcome value add for the tenants. This would add additional revenue and further justify the rent rate increase. For those that have done or have thought about doing this what are the pros and cons? Any estimate of build out costs would be greatly appreciated.

Thanks BP!

Thank you both @brianshcmelzlen and @michaelplaks for your replies.