There is a new refinery being built near me and another one beginning construction soon. My phone is ringing off the hook with workers wanting to place an RV in my park and I have someone who wants to bring his Tiny Home. Is this a good thing or not in a mobile home park? I’ve already accepted 2 RVs and the applicants were as clean as you could ever want. A lease, background check, and large deposit ($1095) are required just like the mobiles. I surveyed the existing residents and no-one had a problem with RVs as long as I got good people.
Is having RVs in a park a good thing or not? Is the income from them considered the same as what I get from mobile homes?
My limited experience has been that RV residents tend to be of significantly higher quality on average.
There are few firm answers to your questions. You have to weight the benefits of the extra income from letting RVs in against the cons of:
-Any aesthetic disadvantages
-potentially violating your zoning, and causing tension with the city
-The added difficulty of managing more transient residents
The only question that has a firm answer is if the income from the RVs is considered the same as from mobile homes - and that answer is no, it’s definitely discounted from a valuation standpoint.
My RV Park is 100% long term tenants 6+ months or more. I turned down an applicant who wanted to move their mobile home in last week. The city I operate in does not have an ordinance for RV’s being for transient use only (e.g. < 3 months), and provided them an affidavit of this in the event they plan to implement one I can claim this as a grandfathered use.
Yes, the RV applicants are much better than the MH ones. Does having 2 full years of tax returns showing consistency of the RV income change how investors and appraisers value it?
We have 4 spots for RV’s. The manager I gave up that part of my job to has repeatedly asked the owner to turn some of the empty lots into spots for tiny homes. For the most part, we are getting higher quality individuals in rv’s, but it wasn’t the case before. The ones with rv’s before I became manager were lower income folks, and/or druggies. We can’t put anymore in there unless we make them dry camping spots, though. Because of the water to # of homes ratio for our well.