Posted by Ray (NJ) on January 21, 2000 at 12:40:48:
Can’t say for sure about FL and MH parks, in general, but be careful when you say trash is part of taxes. In many areas, mine included, trash is NOT included on commercial businesses. This is not a small expense, either. In the retail businesses I own, trash pickup (dumpster, 1X a week), runs about $280 a month.
Best,
Ray
Hidden expenses in MHP? - Posted by Ron Thompson
Posted by Ron Thompson on January 21, 2000 at 09:37:16:
Can anyone tell me what kind of Insurance coverage I would need for a Mobile home park with some park owned homes for rental? I assume I would need liability, and some kind of coverage on the buildings.
Also I am concerned with hidden or unexpected expenses.
The garbage pick up is included in the taxes. There is city water, electric, and propane.
I understand there are concerns about vacancy rate, evictions and other management concerns.
I hope everyone is not getting tired of my questions, but I have never considered a park before.
This park is between 75 and 100 spaces in Florida.
Thanks,
Ron
Re: Hidden expenses in MHP? - Posted by Paul Shroyer
Posted by Paul Shroyer on January 22, 2000 at 20:00:49:
I have a idea for those you who own or will own a MHP.If there is no self-storage in the area of the park.Take half the amount of lots the park, and build that many storage units in the park.