Kyparissia, Messinia · Member since 2017 · 56 posts · 15 votes
Hi,
My husband and I are considering buying a mobile home in California, with the intent of renting it out. What we'd like to know, is if there are any homes that are sold with the land. Also what are the regulations regarding mobile home owners renting out their homes... if they own both the house and the land?
We've been investing in MH's in Cali for 3 decades and own several rentals. You have to be very careful. Always be sure to get a copy of the HOA CC&R's before pulling the trigger. Many if not most "Resident Owned" MHC's have some pretty stringent rules about subletting.
Most want a new owner to live in the home for a minimum of one year before they can rent it. Others will only allow you to rent out your home on one year minimums. Absolutely no vacation, VRBO, Air B&B or short term rentals. You might find some that will allow a 30 day minimum at best.
Resident owned MHC"s are very much aware of investors wanting to purchase MH's because of their attractive price points. But they don't want a lot of transient activity in their communities. All that stated, there are some that don't have those restrictions but you really have to dig around to find them.
We've been investing in MH's in Cali for 3 decades and own several rentals. You have to be very careful. Always be sure to get a copy of the HOA CC&R's before pulling the trigger. Many if not most "Resident Owned" MHC's have some pretty stringent rules about subletting.
Most want a new owner to live in the home for a minimum of one year before they can rent it. Others will only allow you to rent out your home on one year minimums. Absolutely no vacation, VRBO, Air B&B or short term rentals. You might find some that will allow a 30 day minimum at best.
Resident owned MHC"s are very much aware of investors wanting to purchase MH's because of their attractive price points. But they don't want a lot of transient activity in their communities. All that stated, there are some that don't have those restrictions but you really have to dig around to find them.
Thank you very much. That is helpful. We intend to buy it for our son, who is presently paying $2,000 rent for a one room studio apartment in Mountain View. We figure, that the money he would save from having a mobile home could later go towards buying a condo or apartment. After that we would take over and rent it out or sell it.
Now you talking my language . There communities that exist where you do own the land and some that have been condo ed too. Some areas to look into lake Elsinore, wildomar the farm area, Colton, Carson. The 55 plus communities watch for restrictions they don't typically like rentals.
@Account Closed Yes, you can definitely buy the mobile homes with land already packaged up. The question would be what area and whether you want to buy a new or used mobile home.
Regarding regulations, if you're going to be a landlord you'll probably need to get familiar with the rental property code if your area. Joining the local landlord association and manufactured home association will give you access to a bigger network and resources.