4 of the Top 10 Great Ways to Increase the Value of Your Mobile Home Community

By Dave Reynolds, MobileHomeParkstore.com

1.  Raise Rents:  A $10 per month rent increase at a valuation using a 10% capitalization rate, can increase the per lot value of $1,200.

2.  Submeter Water and Sewer and Trash:  By installing water meters and billing the residents back for water and sewer and trash you are in effect increasing your bottom line.  I often think this is one of the most equitable ways of to pass on expenses to the residents as they only pay for what they use.  In my experience when meters have been installed the master water and sewer bill is reduced by 30-40% as your residents become conscious about the amount of water going through the faucets.  Leaky faucets are fixed, toilets no longer run continually, cars are not washed every day, etc.

3.  Enforce Rules and Leases:  By enforcing reasonable rules and regulations your community will be regarded as a safe and comfortable environment.  Get rid of problem tenants.  If you are worried about losing the rent from one or two problem residents, consider that you may lose even more good residents and potential residents by keeping those that are causing problems and not obeying the rules.

4.  Reduce your Property Tax Expense:  Contact a company that specializes in going to bat for you with your county tax assessor to get your valuation and taxes reduced.  Many states and counties base the assessed value on the purchase price.  However, most mobile home parks should have a business value component that should not be taxed as property tax.  These companies often work for a % of the reduced taxes thus no money out of pocket.

For the rest of the Top 10 Ways to Increase the Value of Your Mobile Home Community, purchase the Mobile Home Park Investing Home Study Course.