If you’re looking into embracing the entrepreneur life of a mobile home park owner, then you are probably curious about a few things. Today’s article will have us taking a look at mobile home park lot size and other mobile home park related questions.
So how about we shed some light on mobile home park facts. You’ll be glad for some clarity and a sense of what to expect.
What is the average mobile home park lot size?
On average, a mobile home park lot size can range from 960 square feet to 2,400 square feet. If we’re talking about lot sizes for double or triple wide mobile homes, then it’s around 3,600 square feet.
Invariably, lot size will vary based on different factors. For example, the regulations require different standards for mobile homes based on the location of the park.
We suggest getting in touch with your local housing division for regulations that would apply to your mobile home park locale.
Other FAQs about mobile home parks
Now that we’ve talked about average mobile home park lot size, let’s examine some frequently asked questions. We’re excited about walking with you through some answers to these questions that may arise in your research.
Are mobile home parks a good investment?
Being an entrepreneur is not an easy road, but it is certainly rewarding. You want to be sure that you’re making a good investment before you move forward with a decision.
Therefore, we should take a brief moment to discuss whether investing in a mobile home park is a good idea.
Without a doubt, a mobile home park gives out a superior return on investment. Wall Street Journal and even Forbes’ cannot ignore the reality of this very viable business.
Is it a good investment with a high cost of maintenance?
Among other benefits, the low cost of maintenance for mobile homes makes things easier for mobile home park owners.
Normally, mobile home park residents own their homes. It is the lot their homes sit on that are rented out.
Just note, your responsibilities as a mobile home landlord need to be laid out clearly within the lease. Also, be sure to lay out the expectations you have for your tenants.
As you can see, mobile home park investing can be an appealing endeavor.
Where do mobile homes come from?
You can date mobile homes back as far as the 1500s. Back then traveling gypsies lived in horse-drawn homes.
It wasn’t until around the 1920s that trailer coaches became a popular thing. They could be hauled by vehicles and made a better alternative to living in a tent. This is where the history of the RV trailer and the mobile home part ways.
At the end of WWII, American troops returned home in need of housing to accommodate their search for employment.
Are mobile homes safer than before?
Manufactured homes came on the scene. Eight foot long trailers, giving veterans the flexibility to travel at will, where work could be found.
In the 1950s, the mobile home design became more box-like. This is where the name “mobile home” finally came into play. They became ten foot long trailers which could not be moved around by the homeowners’ vehicle.
With the 1960s the mobile home began to morph into the housing we know today. But still, it wasn’t until the 1970s, when the Department of Housing and Urban Development Code (HUD came into place, that things really took a change for the best.The laws required that mobile home manufacturers increased their production quality.
Thanks to HUD, these homes became sturdier, safer, and more energy efficient. This is where mobile homes finally turned into the homes we know them to be. More houselike, more dependable.
Who lives in mobile home parks?
Today, people from all walks of life choose to live in mobile home parks.
Different types of mobile home parks abound. Some mobile home parks are geared towards serving retirees only. Others are family-oriented. Some allow pets, others do not. You’ll find mobile home parks in a variety of locations.
What are some points to consider before buying a mobile home park?
If you’re looking to move forward with a mobile home park investment, consider location. You’ll want to be sure that your mobile home park’s location is going to be a popular place to reside in for potential homeowners. You know what real estate agents say. It’s all about “location, location, location.”
Next, you should consider the mobile home park condition. Obviously, if the park is dilapidated, you’ll need to weigh what will have to go into fixing the place up. Is it worth the investment? Get all your ducks in a row.
Would you consider being a mobile home park entrepreneur?
We’ve talked about mobile home park lot size and counting the cost of being a mobile home park entrepreneur. You’ve read our feedback about how being a mobile home park entrepreneur does offer a big opportunity for you. Overall, we’ve covered a lot of ground.
Finally, think about how much time and energy you wish to put into being a mobile home park landlord. If you feel daunted about dealing with park management, consider bringing someone else on board to take the role of the mobile home park manager.