A seasoned real estate professional, Drita Bronkey is a consultant with Zemer Property Management Consultants in New Mexico. Drita Bronkey's provides mobile home park community owners with comprehensive management services from rent collection to staff recruitment.
One of the reasons mobile home parks are attractive business propositions is that they cost relatively less. What investors are typically purchasing is only the land and other improvements. The manufactured or mobile homes are owned by those paying rent for a lot in the mobile park. On the other hand, an investor purchasing an apartment pays for the land and the building.
The per-unit cost of owning a lot in a mobile home park is thus less than an apartment building. Likewise, maintenance cost is lower since the upkeep of the mobile homes is the responsibility of the mobile homeowners and not the mobile park owner.
Another reason is that many baby boomers on fixed income are retiring and cannot afford a traditional home. Owning a mobile home and renting in a mobile park is thus the more affordable option, and they are doing so in record numbers. With increasing traditional home prices, those with low wages also see mobile homes as the most affordable means of homeownership.
As for supply, government rules and regulations make it difficult to open new mobile home parks. There is thus greater demand but a low supply of mobile home parks.
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