Rentals


#1

What seems to rent better for you guys, single wide 3bed, 2 baths or 3 bed. 2 baths double wides?


#2

Interesting question when you think about it.

My first reaction was… well, doublewides of course.

But upon further thought, it would only be fair to say that if we are comparing 3/2 singlewides with 3/2 doublewides we have to consider the rental difference. In my area the 3/2 singlewide runs about $600 per month while the 3/2 doublewide runs between $800 to $850 per month.

Every tenant that could move into one of our singlewide 3/2’s wants the doublewide but they simply cannot afford it.

This is not excactly the apples to oranges scenario but perhaps a macintosh to golden delicious apple is a better analogy.

The greater consideration to consider, in my opinion, is the difference in cost to you. If you are trying to decide which one to buy as an investment, you would also want to include factors such as do you own the land? If so we compare the costs, returns and rehab.

Is it in a park not owned by you? If so, their is greater risk with a doulbewide than a singlewide if you are ever forced to move the home.

Clear as mud right?

Tony


#3

M, I would add this to Tony’s comment. For me the double wide will attract long-term residents (retirees) who have owned their home in the past, and could do so any time they choose, but prefer to lease and thereby maintenance. With leased 16x80’s about 24-30 months is typical, with some being 12 months and out.

Hospice care has recently been called in for the resident of a nice 28x70 she has live there for 9+ years now.