Manufactured (Mobile) Home Park

A subdivision of plots designed for siting manufactured homes. Plots are generally leased to manufactured home owners and include utilities, parking space, and access to utility roads. Many parks include amenities like swimming pools and clubhouses.
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Definition

A Manufactured (Mobile) Home Park is a residential development subdivision consisting of plots specifically designed for the placement of manufactured homes. These plots are generally leased to the owners of the manufactured homes and include practical amenities such as utility connections, parking spaces, and access to utility roads. Additionally, many parks offer various conveniences and recreational facilities such as swimming pools, clubhouses, and sometimes additional community features.

Examples

  1. Sunny Acres Mobile Home Park: Includes 150 plots, each with water, electricity, and sewer connections. Amenities include a large clubhouse, a swimming pool, and a playground.
  2. Evergreen Estates: A smaller park with 60 plots, featuring paved roads, attached parking spaces, and well-maintained gardens. Includes amenities like an exercise room and community hall.

Frequently Asked Questions

What utilities are typically included in a manufactured home park?

Utilities often include water, electricity, sewer services, and sometimes natural gas. Each plot typically has connections available for these services.

Are the plots in a manufactured home park purchased or leased?

Most plots within a manufactured home park are leased rather than purchased. The lease agreements can vary in terms and conditions.

What types of manufactured homes are allowed in these parks?

The regulations regarding the types of manufactured homes allowed can vary by park. Generally, homes must meet certain standards in terms of size, condition, and compliance with local building codes.

Are there additional costs aside from the plot lease?

Yes, in addition to the plot lease, there may be additional costs for utilities, maintenance fees, and access to amenities. Each park has its own fee structure.

Do manufactured home parks offer financing options for home purchases?

Some manufactured home parks may offer financing options or have partnerships with lenders to assist residents in purchasing their homes. This can vary greatly from park to park.

  • Modular Home: A type of pre-fabricated housing that consists of multiple sections called modules. These homes are built in a controlled factory setting and then transported to the site of use.
  • Leased Land Community: Similar to a manufactured home park but can include other types of housing structures where residents lease the plot of land their home is situated on.
  • HOA (Homeowners Association): An organization in a subdivision, including manufactured home parks, that enforces rules for the properties and residents.

Online Resources

Suggested Books for Further Study

  1. “Modern Real Estate Practice” by Fillmore W. Galaty, Wellington J. Allaway, and Robert C. Kyle
  2. “Creating and Profiting from Real Estate Investing: Strategies and Examples” by William J. Poorvu
  3. “Manufactured Home Parks: Research and Sources of Information” by James Armstrong

Fundamentals of Manufactured (Mobile) Home Park: Real Estate Management Basics Quiz

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