I am new to this forum, and MHP investing as well. My mother inherited a MHP that I am considering purchasing. It has 28 lots, 25 lots rented, with no trailers owned by the park. There currently is a site ‘manager’, in the sense he responds to maintenance calls and coordinated other tasks with my the current owner. My mother receives calls regarding new applicants, but she is not actively advertising. I am considering purchasing the park from my mother, and was curios on the option of hiring a management company. I live 4 hours from the park.
Question: What is everyone’s experience with utilizing a management company versus an on site manager? or any other additional options to consider? Any information would be helpful.
Thank you, and I know I’ll have additional questions as I pursue my first MHP purchase.
Can you give us more information why the on site manager is not working?
These are your best option in most cases, and you can focus your efforts to remove or streamline as many of their responsibilities as possible (e.g. tenants deposit directly to a bank account instead of paying the manager).
Rent collection would not be an issue. But currently the manager only tends mows/keeps park clean, and responds to any maintenance calls. I see him as more of a maintenance hand versus manager. My mother curently manages new tenants moving in, and issues with existing tenants. I’d like a manager that is capable of doing the last two and only coming to me if a resolution can not be meet as I’m four hours away. If I can’t find or utilize the existing on site manager for those activities, i wanted to explore management companies.