All Forum Posts by: Gulliver R.

@Frank Rolfe - That's great news to hear about FEMA and the Red Cross helping me out like that. My MHP insurance policy is with Mobile Insurance. I'm sure FEMA and the Red Cross will pay $30,000 to tenant-owned home owners who lost a home in a tornado, but will FEMA or the Red Cross pay me $30,000 per damaged/lost park-owned home?

can't I get a non-monthly subscription security system? 

@Joe Splitrock great input. What percentage per month for each would you plug into a monthly STR expense spreadsheet for supplies, linen replacements, furniture replacement, CapEx, and repairs?

What kind of coverage do you have? Do you have liability, fire, damages? @Michael Stebnicki

Yes, for sure I'm going to put a Cap Ex and repair percentage per month in my expense calculations. What percentage do you recommend to put per month for each @John Underwood ?

For sure! 

Hi All,

I'm doing some STR research prior to buying a property to use for vacation rental and I wanted to hear from you all what are the typical STR monthly expenses? I can think of mortgage, taxes, insurance, STR insurance, water/sewer, electricity, trash, internet/cable, cleaning (can pass through), supplies, and software.

-Is there anything else I'm missing?

-Also, how much is STR insurance typically per month (I know they vary)?

Thank you,

Gulliver

@Nathan Gesner Thank you for your input! Yes, those are for sure some things to keep in mind. I'll add them to my spreadsheet. And I'll repost this in that other category to get more eyes on it. Good call out!

Thanks again!

Gulliver

Hi All,

I have a MHP in the mid-west and I'm pretty concerned about tornadoes taking out my entire MHP (or a good portion of the mobile homes). I have mobile home insurance to cover tornadoes. But I wanted to hear what you MHP investors are doing to prepare for tornadoes...

-What do you do with your tenant-owned mobile home owners in your community? Do you require them to get and keep mobile home insurance to cover tornadoes (and show you proof of this)? 

-What do you do with your park-owned homes in regards to mobile home insurance? My insurance company will only insure a max of about $30k per home. A new mobile home is about $50-60k these days. So the insurance company would in theory only pay me out $30k (minus my deductible) per home in the event a tornado ripped through and destroyed my mobile homes.

I appreciate any feed back. Thank you so much.

Best,

Gulliver

Hi All,

I'm doing some STR research prior to buying a property to use for vacation rental and I wanted to hear from you all what are the typical STR monthly expenses? I can think of mortgage, taxes, insurance, STR insurance, water/sewer, electricity, trash, internet/cable, cleaning (can pass through), supplies, and software.

Is there anything else I'm missing?

Also, how much is STR insurance typically per month (I know they vary)?

Thank you,

Gulliver