I am considering entering a non-exclusive agreement with one of a few local retailers who have expressed interest in bringing in single and doublewide homes to my MHP. It is a robust market with 100+ MHP’s in the county, steady demand, few vacancies, and virtually no new homes. To attract retailers, I offered to not charge lot rent until after homes are sold. A few questions:1.) What’s the best way to incentivize dealers to sell as many homes as possible (to responsible buyers)? (e.g. enter into an exclusive or a non-exclusive whereby multiple retailers are on site at the same time, allow the retailer to have carte blanche on home types and price points, etc.)2.) Is it advisable to “cram” certain home standards on retailers, or will that scare them away? (e.g. vinyl siding, peaked roofs, matching sheds)?Thanks,jkmhp2
Any lot that the retailer can fill for you saves you $20,000 to $30,000. So I would be living by the motto “what do I have to do to get you to bring your home into my park?” Don’t slap a bunch of restrictions on there. Be super user friendly, offering not only to not charge them lot rent while it’s vacant, but also to volunteer your manager to show the home when they can’t make it. But despite your best efforts, the program won’t work unless your customer demographic has a reasonably high credit score and money to put down. In other words, this program will work in Wisconsin, but maybe not so well in Mississippi. But you never know until you try. Give it your best shot and see if you get lucky.