JessaBell, as per your question:
“Do you find that POH renters to stay as long as someone who might be in an apartment?”
I am a Real Estate Broker-In-Charge and Realtor.
However, Apartments are not my niche area.
Thus, I am not sure how long an average Apartment Tenant will stay. Perhaps one of the Forum Users (who are knowledgeable in Apartments) can help us in this area. I am always learning and love to learn from others.
Now my Husband and I do own two MHPs and have some POHs in each MHP, so I can give you our experience on MHP and POHs.
For Mobile Home Parks and POHs it really depends on the following:
1.) Your Tenant
2.) Rental Options In The Area Of The MHP
Approximately 9 months ago we rented one of our renovated, older, smaller, 2 bedroom / 1 bathroom homes to two, single, twenty something, men who had recently relocated.
Please note that the description of Tenants is just for Forum explanation.
We do NOT discriminate based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents or legal custodians, pregnant women, and people securing custody of children under the age of 18), and disability.
These men were/are hard workers. They were able to get promotions in their jobs during this time frame.
As a result of their job promotions they have moved. Not moved in a bad way…but moved in a good way.
They moved across the street in the MHP into one of our newer, bigger single wides with 3 bedroom / 2 bathrooms.
We have multiple long term Tenants that desire to stay in our MHP, but just move to a little bigger and better home.
We had another couple that have been renting before we even purchased the MHP. They just recently ended up moving two doors down in the MHP to one of our newer, bigger single wides.
The majority of our Renters (that went through our Application Process) still live in our MHPs.
However, there are few (that went through our Application Process) that have left. Below is the breakdown. This is out of 15 POHs in two MHPs during a 1-2 Year Time Frame:
1.) Separated & Getting A Divorce: Ended Up Reconciling With Husband & Moving
2.) Non-Payment: Currently, Going Through The Eviction Process - This Tenant Ended Up With An Out Of State Fairy Godmother Who Paid 6 Months Of Her Rent - Then The Fairy Godmother’s Generosity Ended
3.) MHP Gave 30 Day Notice
4.) Parents “Gave” Them A Brick, Single-Family Home
We wish you the very best!