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Mobile Home Park Investing

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Joe Hartman
  • Orlando, FL
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Management for MHP... what's your model?

Joe Hartman
  • Orlando, FL
Posted Nov 4 2012, 06:24

Just wondering how people are managing their mobile home parks, assuming that you are not doing it yourself. Obvious answer = it depends on the # of pads, if you are renting the dirt or also renting units, if it has other income like storage units/RVs, if it is a fancy retirement community with rec centers/pools. But how would you asses a property and decide on management structures taking these factors into consideration.

Things I've seen so far,
1) "Greeter" that hand out applications, take applications, watch over and report what's going on in the park
2) "Maintenance person" - mows lawn, fixes up empty units, picks up trash
3) Person does #1 and #2 but has a much larger roll as "manager"
4) "Professional" manager or company that offers all the bells and whistles

Also, I'm assuming everyone's getting Work Comp for all employees?

Are your management people ever collecting rents, or do you have your tenants mail checks to a PO Box or deposit it to a local bank? Some banks have it where you can scan a check or take a pic and send it on your phone, anyone making use of this?

Would it ever make sense to have a "full time" person on staff? Maybe in the # of units that I won't be messing with, but just curious.

Thanks,
Joe

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