Hi - If I am looking at a park that has lot rent at $250 and water billed back for ~$50 = $300 total cost. Lets say I am bringing in 10-15 year old homes, what is the amount that I can charge to execute a rent credit program. Avg 2 br apt rent is $650. Could I charge up to $650 so $350 for the home/credit+$300 for pad/water?
Most park owners have this pathetic inferiority complex that says that a mobile home can’t compete with an apartment. We disagree. We think that, giving the same price, the tenant will always go for the mobile home over the Class B and lower apartment for some simple reasons: 1) no tenants banging on your walls or ceiling 2) having your own yard 3) parking by your door 4) the ability to own your own property (which is never allowed in an apartment) and 5) a sense of “community”. So I think you would be fine charging $650 for the home. But don’t take my word for it – run a test ad and see what the stats are. Market testing is the key to success.