Mobile Home parks
What to expect
and look for
in a park
By Will Cunningham: Mobile Home Parks come in all
shapes and sizes.
They come in two main categories: You own the land
and you Don't own the land.
Below is what you need to know about each type, as
well as qualifying for residency, and what it is like living there.
Information common to rental and ownership parks
Easy on the wallet - hands down the cheapest
form of home ownership available any where
Safe - generally, no one will go into a
park unless they live there or are visting, and neighbors will look out
Park amenities - often a pool and club house
are included, and some times laundry and play equipment as well
You have to qualify for residency - not just
anyone can buy a Mobile Home there and move in, the park management
needs to approve everyone
A Mobile Home Community
Safe and inexpensive
Qualifying to live in the park
All Mobile Home communities
will want to know who is living there and make sure that who is
actually living there is the same person that is on the lease/rental
The process of qualifying is similar to getting a
Typically the management will need an application filled out,
credit report run, income verification, photo ID - and in some cases a
background check is done.
Normally you must sit down in an
interview and discuss the rules and regulations for living in the park.
This is a good thing! You know then that everyone
there has passed this test too.
If you are considering buying and living in a
Mobile home community, speak with the residents and manager first.
What is it really like to live in a Mobile Home
Living in a Mobile Home park has it advantages and
disadvantages. We have already mentioned that your neighbors will look
out for you, but they can also be an unwanted pain in the neck. Living
so close to one another can cause conflict to be sure.
You give up some privacy for the benefit of
safety. Like most things in life, living in a Mobile Home
Park is what you make it.
Generally, they are safe,
inexpensive, and a great place to live.
Some tips when considering a certain park to live
Talk to the residents and maybe even ask to
attend one of the monthly meetings
Talk to the manager, are they friendly or
Read the Park Rules and Regulations
Keep your eyes open for obvious signs of
dis-repair and general lack of enthusiasm for living there
What does your gut tell you?
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.
Benefits of living in a rental park
Cheap - some of the best opportunities for
cheap living come from rental parks - they are a great place to start
the road to home ownership
Common - there are lots of rental parks
there should be no problem finding one close to you that you like
Ownership parks are one step above rental parks in
that the sense of pride-of-ownership is felt and seen.
Residents generally are more interested in who lives along
side them, but they also are even more protective of their neighbors
Ownership are usually come in two forms:
Condo - lots are split up and assigned an
Acessors Parcel Number, individually taxed, and the structure may or
may not be permanently attached. Typically the common areas
are managed by the Home Owners Association and on site manager.
Corporation - in this instance the residents
own a share in a corporation. This corporation owns the
park/and or the land. A board of directors of the corporation
makes all of the decisions for the park. There is an on site
manager to take care of the day-to-day operations of the park.
Benefits of living in an Ownership Park
Really the only difference is the fact that the residents own the land
vs. renting the land. However, this is a big difference.
Because of this the advantages stand out:
Appreciation of the property (each individual
home) is retained more
The monthly HOA dues are less than rent
The decisions for the park are up to the
who live there
The is a small chance of better financing
(don't count on it though)
Additional Manufactured Home info
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