Posted by Tony Colella on July 15, 2007 at 06:38:46:
You are correct that mobile homes will not receive the entire amount you see posted on HUD websites (even those listed for your area).
What I find is that I get the same rent for mobiles homes rented through the section 8 program as I do with mobiles rented to the general public.
There are a number of reasons why the section 8 is more preferable even if the rental amount is the same. We talk about section 8 in our book and landlord audio course in more detail.
I have watched the newspapers and also a few on-line property management firms in my area. There is a lot of stick built rentals but few MH rentals. I am trying to determine what rents I can expect on fairly new MH’s on individual lots. The HUD fair market rents for a 3 bedroom rental is a little over $800.00 for 2007 and proposed for 2008 at just over $900.00. I suspect these would need to be discounted a bit for MH rentals.
Anyone have an idea how reliable these HUD figures are as a basis for estimating gross income for a potential property ??