What are the steps to get a mobile home park approved?

Authorization to contact landlords, employers, and pull credit and criminal histories is a must. These five essential steps for the mobile home park approval process are important. We suggest networking with other landlords to get some location specific advice on common overlooked red flags in your locale.

Where can I get a mobile home park loan?

With the lowest long term fixed rate mobile home park financing since 1997, Apartment Loan Store has 6 mobile home park loan programs for manufactured housing communities. Find the mobile home park loan that is right for you.

How to evaluate mobile home park investments for?

Bryce and #RealEstateMate Reed Goossens host a one-day live workshop, “Syndication – The Art & Science of Raising Capital Like a Pro!” where they teach the ins and outs of successful syndication and raising capital. This course is also available as a 10-hour, fully interactive home study course.

Can a criminal record Keep you Out of a mobile home park?

This information will empower you to make proper decisions on the potential tenant’s future in your mobile home park. A criminal record can be grounds for refusing a tenant. For instance, if your mobile home park caters to families with children, then you don’t want a pedophile staying in your park.

How to apply for a mobile home park?

Visit the Mobilehome Park Forms page to download the necessary forms for use in park construction or alteration. Refer to the Park Construction Approval Booklet, HCD MP 514 (PDF) for additional information about your park construction process.

Where can I find HCD mobile home park approval booklet?

Refer to the Park Construction Approval Booklet, HCD MP 514 (PDF) for additional information about your park construction process. For information on mobilehome / manufactured home alterations, please visit the Modifying a Mobilehome page.

Can a mobile home park be converted to a home?

The same approval process is applicable to mobile home condominium and conversion of existing park to home condominium. The Manufactured Housing Commission may extend the plan approval and permit to construct and grant a variance to the park design and construction rules upon request.

Who is responsible for mobile home park renewal?

As otherwise indicated below. The Mobile Homes program is responsible for initial and renewal licensure for mobile home parks and dealers and determining eligibility of park licensing through the annual inspection process.

Can a mobile home park raise the rent?

Mobile home park managers are known to raise the rent often. They’ll have even more incentive to do so if the other living options are unaffordable. They know that residents will have to deal with the rent increase as they have nowhere else to go!

What kind of Park is a mobile home?

The most common type of Mobile Home park is the rental park. This kind of park you own the actual Mobile Home, but rent or lease the land underneath. A common thought is that this is not a good investment or choice of where to live. We disagree! Although there are drawbacks to living in a rental park, the benefits can be outstanding.

What should be included in lease agreement for mobile home park?

The lease agreement should include the rules and regulations of the park, showing that your tenant is on board with the park’s way of running things. In the application form, you should include information for income, employment history, and applicant contact information.

How long do you have to pay rent in a mobile home park?

PROBLEM: In most states landlords of site-built homes only need to give 3 days notice to tenants to pay rent prior to beginning eviction proceedings. However, you get an extra 2 days in a mobile home park. The park manager is typically required to owners 5 days notice to pay rent prior to eviction proceedings.

How much does it cost to build a mobile home park?

Let’s look at an example using completely arbitrary values: Let’s say you buy a mobile home park at $5 million. On average you receive a combined lot rent or occupancy rent of around $400 per month. If you have 100 homes or lots in your park that’s equal to $40,000 per month. That means you annually make around $520,000 on rent alone.

Is it possible to live in a mobile home park?

Finding the right mobile home park presents a unique challenge as they are far and few between. Sparse locations can limit your options. And the cost of moving to one several hundred miles away is often unaffordable. However, living in a mobile home park is preferable to staying on an isolated piece of land or in someone’s backyard.

How long does it take to get evicted from a mobile home park?

The park manager is typically required to owners 5 days notice to pay rent prior to eviction proceedings. There isn’t much to celebrate about being evicted, but this is a small plus.