Determining market lot rent

3 Replies

Hi BPers,

Just a quick question: How do I determine market lot rent? Craigslist? any other websites that are helpful?

Thanks,

Aaron

I've seen folks look at listings on Craigslist, put up their own post on Craigslist with an exploratory price, call around and secret shop local competitors, and look online.

Secret shopping is a good idea because you can chat about the property innocently and learn some deeper information. How many open pads they have, specials, whether they're looking at adding any POHs, things like that. 

Call MHPs at a 5-10 mi radius of your MHP and act like you’re looking for a place for your grandma. Ask about if there are any 2 bedrooms available, how much their home and lot rent is, is water included, how much is the deposit, are pets allowed, etc. 

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