Mobile home park living is something that’s been on the increase for years now, and this has led to mobile home parks becoming attractive to property investors who see the immense potential. As an investor, you don’t necessarily want to be responsible for running and looking after the park yourself, so it’s imperative to enlist the help of a professional and experienced management team.
California is a very popular state for mobile home parks, particularly in San Diego and Orange County. Some residents simply rent both the home and lot, but many homes in San Diego county mobile home parks are resident owned. Either way, you want a management team to look after all these homes, residents and the park in general. Let’s discover how good property management can be your savior.
Your Management Team Will Collect All the Rents and Fees
As an investor, you naturally have other business to take care of. You don’t want to be the one chasing up rent from every individual resident within the mobile home park you own. Your managers can take care of that, basically leaving you free to simply count the money as it comes into your account.
Your interest is a positive ROI in the park, and it’s the job of the managers to see that that’s what you get by way of regular monthly rents.
A Good Park Manager Will Keep the Park Full
A positive ROI will not only depend on the rent being paid on time but also on keeping the park close to full capacity at all times. This is also an area where effective park management comes into its own.
Not only should the managers make sure residents are happy and willing to stay, as soon as somebody does vacate, you want to know the managers are doing everything possible to fill the void in a quick time so rent money keeps flowing in.
You want your park to be full, but you also want good residents who are responsible and respectful of others so everyone is happy to stay.
The Property and the Homes Will Be Well Taken Care Of
Resident managers will be hands-on in all aspects of park management, and this goes for cleaning, maintaining and generally looking after the entire park on a daily basis.
Be clear with what you expect from management, employ an experienced team, and allocate a decent budget so the managers can effectively perform maintenance and carry out any necessary repairs.
After all, it’s essential to keep everything well maintained if you want a park full of residents who are happy to stay and keep paying their rent.
Management Will Deal With All the Residents and Their Concerns
This effectively takes all the headaches away from you. Your manager will be the one dealing with residents on a day to day basis, answering questions, issuing lease agreements, mediating any disputes within the park, liaising with residents on your behalf and generally just handling all your affairs for you when it comes to the overall running of your mobile home park.
A really good management team is worth their weight in gold, as they really do make life simple and stress-free for the owners of the mobile home park.
Park Rules & Regulations Will Be Stipulated and Followed
All mobile home parks need some rules for residents to follow and abide by. It ensures a quality lifestyle and quiet enjoyment of the park for everyone concerned. It also guarantees the park will remain filled with residents that are respectful and easy to deal with.
Not only will the managers draw up a list of rules and regulations and distribute the list, but it’ll also be up to management to make sure everyone within the park follows the rules. This includes issuing penalties, or possibly even eviction notices, for residents who refuse to abide by them.
You want this, as it will help keep good residents happy and willing to stay. The last thing you want is an exodus from the park due to several loud or unruly occupants.
A great management team will prove to be your best friend when you own a mobile home park.
