MH as Rentals - Posted by Shelly

Posted by SusanL.-FL on December 02, 1999 at 14:10:31:


HOWEVER,since I am no longer in a position to be choosy, :slight_smile: I’ll take whatever I can get at this point…renter OR buyer!

MH as Rentals - Posted by Shelly

Posted by Shelly on December 01, 1999 at 21:18:48:

Does anyone buy MH for rentals? I am considering buying the nicer larger Manufactured homes and renting them. I want at least $100 per month positive cash flow. I have run the numbers on a few for sale and some will work some will not. How do MH park managers look upon this? Any comments are welcomed.


Re: MH as Rentals - Posted by Jeff

Posted by Jeff on December 02, 1999 at 20:10:03:

Hi Shelly,

I agree with Doug on some of his points. But, the key to renting MH’s is the same as renting any other type of real-estate, and that is getting quality tenants. If you screen your tenants and manage your MH’s properly, renting can provide you with a good monthly cash flow. As far as maintenance goes, it is not that hard to repair a MH. I haven’t had anything major tear up.

As far as the PM goes, he refers tenants to me if his are occupied. I have all my rentals in one park, but I’ve known the PM for about 10 years and we have an excellent relationship. Good luck.

Jeff Veal

Re: MH as Rentals - Posted by DougO(NM)

Posted by DougO(NM) on December 02, 1999 at 09:22:15:

We are in the process of selling off our MH rentals…that should tell you something. In many markets there is a definite need for rental units, and many community owners buy units to fill their vacancies and find the cash flow from renting is much higher than just getting the dirt rent. This may sometimes be the case, but then the maintenance expenses and the increased amount of work required usually eat up any gains! From a community owner/manager veiwpoint, allowing rental units is not good business practice. The contractual relationship is with the home “owner”, not their renter. On the investor side of things, I would probably not want to do much business with an owner or manager that permits rental units in the community. To me it shows that they are not interested in the place, and are lax in their management. Also, I would not consider renting homes sitting on leased land if I didn’t own the land. Food for thought.