I have a 58 lot mobile home park
which is 45 min Nort East of IndianapolisWe have 7 park owned homes that are rehabbed and have been
on the market as rent to own contracts.
We have been asking 10% deposit ( fro
example : around $ 2,400 and $600 rent for a 3b/2bath double wide, however
lowered the deposit to $1,200) . My
rents are lower than more parks and the apartments for rent. Median household
income is $35,232 and Family Median Income is $45,628. We have showed the homes many times but hardly can find people
that will qualify. They most of the time do not have the deposit or income is
I want to be able to get the homes off of my hand ASAP and
yet do not fill the park up with people that I will need to evict in 3 months. Is it the time of the
year that makes the renting slow or Is it asking for a 5 to 10% deposit killing me? Per my manager who
manages also other parks in the area ,
it is common practice to ask for 10%
deposit, he thinks we are not attracting qualified renters. We are only
advertising in Craigslist for now.
The prospects that come to park seem to like homes and the
park but for some reason they do not fill out the application or do not have deposit of 10% or the income.
These are our requirements:
background check, criminal check/ 5 to 10% deposit/ their
work is their credit/ certain breeds of dogs that are not permitted / no more
than 3 dogs in a household/
What do you guys to rent your homes? I intend to hold the
park for at least 4 to 5 years. We purchased it about 6 months ago. Any suggestions will be appreciated.