I am a landlord of 5 mobiles homes in other peoples mobile home parks around the state of Wyoming. I live in Idaho and manage all of these from 200+ miles away. I've dealt with 1 eviction that was probably the best case scenario an eviction could be. I buy the units from Facebook Marketplace typically, they have them listed for $10k, $20k, even $30k. I offer them $5k give or take a couple thousand depending on it and they often end up taking it. I have a maintenance man on payroll who will take care of any maintenance issues that arise.
- When we first get them we clean them up and make any changes that need done to the unit.
- We put an Igloo lock box with the key on them (https://www.igloohome.co/products/keybox/) This has been a lifesaver for me and it works very well.
- I post the rental online on Facebook, Zillow, etc and get people scheduled to see it. Tell them this is the code to get in there and a new code generates every time I need one.
- When someone is ready to move on it I schedule my maintenance man to go down with a lease to collect the money and signatures. He gives them the key.
- They deposit rent into a Wells Fargo account every month.
Wells Fargo and Igloo have been the game changers for my rental business. Since I am so far away though I don't have any room for leniency in my rentals. When a new tenant moves in and they start to act flakey, I will aggressively be on them to start a standard from the beginning. On the 3rd day of the month if no payment has been deposited I send my maintenance man to put the Notice to Quit on their door. Vice versa though, if a tenant has a maintenance issue, we are on it the next day. I also tell my tenants to not wait on any maintenance. How do you run your rentals from different states?
That's impressive that you're managing from another state and you couldn't do it without your team of people on the ground there. I personally couldn't deal with it. I decided to hire the best PM I can find instead.
I tried to go that route and couldn't find anyone to do it. I think its cause they are mobile homes. So thats why I had to make my own management team.
Sounds like you have a great system in place.
I was wondering who takes care of turnovers? Cleaning, spiffing up the place, etc.
I rent mine locally and turnovers are the most time consuming thing for me.
@Leslie A. I deal with all the turnovers. I pay my maintenance man more time to sit around than actually work, so when we know someone is moving out, he goes there and gets the place cleaned, fixed, and ready to go for the next one. I try to schedule showings while he is there as well and send him with a lease ready to sign.
sounds like he's a great asset. I hope he never quits! 😃
@Virgil Nethercott Thanks for the Igloo lock box tip. Thats exactly what I've been looking for, but cheaper!
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