Greg, are you saying lot rents shou,d equal the same as apartments? Because to me that doesn’t make sense. Renting the lot at local apartment still means roof replacements lawn care, and other expenses are incurred. happens, There really is no true equity for the home owner. Mobile home living has historically always been cheaper then renting an apartment. It makes sense. So it the industry trying to bring up the owners costs to the level of apartment rates in a given location?
I’m trying to remember but I thought the barometer was lot rents hover around half the rent of a garden variety 1/1 apartment. Some markets may vary significantly but a rule of thumb to consider.
Mobile home lot rents should be at market as established for mobile home lot rents in the area. Nothing to do with apartments and not tied in any way to apartment rents.
Frank Rolf disagrees with you.
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