Inherited Older MH in Sr. Park- What to Do?

Question

My husband has inherited a 12x33 skirted MH built in '83 or '84 on a rented slab in a nice, senior park in AZ with a community building and pool. The single-wide also has a 12x8 shed with a washer and dryer. His aunt died in the home 2 years ago and had lived there for decades. (It was passed down to her only child, but he recently passed away. His adult children don't want to bother with it and have given it to my husband. They live across the country.)

The park rent is $6100/yr. We have yet to research the value of the home or the prevailing rent for a home that small. What we'd do with it may depend upon whether it's rentable in the shape it's in and whether we can get it ready by "snowbird season" in a couple of months.

We do have another 3 MHs that we inherited from my brother, but they came with tenants, and they're not in a senior park. As most of our RE experience is with SFRs, can anyone pass on advice as to how we would know whether it's worth doing work to update it? Is there any need for inspection before renting it? The park has inspected the exterior.

Thank you.

Kyle S. · Answer

My experience is many park managers in the East Valley won't give you an accurate price as to what the actual value of the home is; as they are probably selling and/or renting their own and usually at rather inflated prices to the unknowing and low-balling what they will pay. Many factors depend on the park, amenities, management, the location, turn-over and the type of tenants (snowbirds vs year 'round). It would be best to check with current tenants who have been around for at least a few years to get a good assessment. The best selling season will begin when the snowbirds start coming back. It sounds as if you have a "Park Model" which is considered an RV and not an actual Mobile Home. This is an important distinction as they are covered differently in the State's Landlord-Tenant Act for Mobile Homes.

Thomas S. · Answer

Contact the park manager and find out what it is worth and what it is likely to rent for. With lot rent at $500/month you may find it is not worth the trouble and decide to sell.

Wendy Black · Answer

It's fine to rent to rent it out there.

The MH, BTW, is a '98.

Kevin Mika · Answer

I would say the first thing you need to make sure of is that the park will let you rent it. Most parks will not allow you to rent out the home inside there park. Are you over 55 or the parks age limit. If not the park could move to evict you. Just food for thought. With that comes different questions on how much it's worth and what repairs are needed. If your not sure what your doing of Cours hire and do an inspection. I would not trust the parks inspection on the exterior. After the inspection you should have an idea of what shape it is in and what repairs are needed. Craigslist is probably your best avaune for getting comps to either rent or sale. Let me k ow if you have any questIons if you have to sell you could always look at taking payment But that is a whole different topic

Inherited Older MH in Sr. Park- What to Do?

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