Tag: can you rent a mobile home on your property

  • Watch THIS Before Renting A Sarasota Florida Mobile Home!

    Have you considered buying or renting a mobile home in Florida but are unsure whether you should take the plunge and actually buy that property or rent something for a few months just to get a better idea of what’s out there?

    Are you confused or unsure about what will need to be paid for when you are looking to rent a mobile home on leased land in Florida?

    When renting a mobile home in Sarasota, Florida, there’s quite a bit you should think about before signing that lease agreement. These include price considerations, accessibility, available options, and the different responsibilities required for both the tenant and the mobile home owner.

    Many people move to Florida yearly to enjoy the warm weather all year round. Most of these people are from the Northern part of the United States and Canada. People who are migrating from cooler winter climates and going to the South are called snowbirds. However, aside from snowbirds, which account for the majority of the visitors, there are also people from other states who move here for different reasons, such as jobs, affordability, family, and holiday vacations.

    We work with several folks daily who are looking to relocate to the Sunshine State and buy their piece of paradise but are unsure whether they should buy a mobile home right when they get here or rent first to get a better understanding of the area before they put roots down.

    Today, we will discuss the basic points that you should consider if you are looking to rent a mobile home in Florida.

    Disclaimer Alert!

    Before we go any further, we want to stress that we are not attorneys or compliance folks of any kind. We are mobile home Brokers in the state of Florida. So, please do not take any of what we say as legal advice; we are just selling mobile homes.

    Now that we have that out of the way, you want to make sure that the home you are looking to rent is available.

    This sounds silly, I know, but please let me explain.

    Some parks in and around the Sarasota, Florida area, do not allow the homes that are within the park to be rented whatsoever. The reason for this restriction many times is because the park owner or manager believes that if they have rentals, it will turn into a huge hotel with tons of homes being rented for one or two nights at a time, which could lead to a very transient or unsafe feeling within the park for other residents.

    Even though this may or may not be the case in reality, this is the perception that some park managers have about allowing rentals in their parks.

    Some homeowners will not follow these rules and still look to rent their homes, which could lead to a huge issue for both you and the home’s owner down the road. We suggest always calling the park to introduce yourself and make sure the park you are looking to rent allows rentals.

    Mobile home in Florida - renting a mobile home
    Mobile home in Florida

    Next, when you talk to the park check to see if you are required to be park-approved to rent one of the homes in those parks. If this is the case, you will need to pay a background check, a park application, and a nominal fee to allow yourself to be a qualified renter in that community.

    When speaking to the home owner, make sure you clearly understand who will pay the utilities and the lot rent each month.

    Some owners will require all renters to turn over the utilities to them and then the renter pays the utilities directly. Most parks will require the owner of the home to pay the lot rent and not the renter as the owner of the home is technically the one who owns the home on paper with the park which is who the park needs to have to pay the lot rent.

    Many mobile homeowners who reside outside Florida rent their homes when they are not on vacation. Although it is fine to rent a mobile home while the owner is away, it is always recommended to ask the owner who will be contacted when unexpected issues arise like water leaks, broken bulbs, door jams, etc.

    Lastly, and this comes in common sense, ensure you have all of the above discussed today in writing.

    Make sure you fully understand all of the points above that we discussed. Also, have your park approval on file and have a copy for yourself if you need to get approved.

    We hope this helps give you a better idea of what to look for when you’re looking to rent a mobile home on leased land in the Sunshine State of Florida.

    The Mobile Home Dealer is a licensed mobile home broker in Sarasota, Florida, and the surrounding areas. We provide professional buy and sell assistance to our clients. If you have any questions, please get in touch with us by clicking this link. You may also visit our Facebook Page and send us a message

    This is Mark Kaiser with The Mobile Home Dealer. We help mobile home Buyers and Sellers improve their lives.

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  • 8 Lucrative Ways to Make Money with Mobile Homes in Mobile Home Parks

    Investing in mobile homes inside existing mobile home parks can be a lucrative opportunity that often goes overlooked by many investors. In this article, we will explore eight ways to make money with mobile homes in these parks. It’s important to note that we are discussing the purchase and sale of the mobile homes themselves, not the land they sit on.

    Sarasota Mobile Home for Sale with Wide Carport
    Sarasota Mobile Home for Sale with Wide Carport

    1. Buying and Renting

    While many mobile home parks may not allow you to rent out mobile homes, there are exceptions. Some parks near military bases or in specific regions may permit renting. In such cases, consider renting the room if it’s financially advantageous, especially for purposes like student housing, transient or migrant housing, or housing for oil workers. Ensure you check with local park managers to understand their rental policies.

    Pro Tip: Always clarify your market and make multiple offers to sellers to secure mobile homes at prices below retail.

    2. Buying and Selling for Cash

    Every day, individuals across the country buy and sell mobile homes for cash. As an active mobile home investor, you should aim to purchase these homes at a price significantly below retail. You can sell them to private buyers or arrange bank financing. The key to success in this strategy is understanding the market and consistently making multiple offers.

    3. Buying and Selling via Payments

    Some sellers may choose to sell their mobile homes within the park through down payments and monthly payments from tenant-buyers. It’s essential that all buyer-applicants are approved by the park and meet the necessary background/application requirements. Additionally, an interest rate may be applied to the balance being paid.

    Pro Tip: Ensure all paperwork and applicants adhere to local and national seller financing rules and guidelines.

    4. Wholesaling

    Similar to the real estate market, wholesaling mobile homes in mobile home parks involves obtaining a purchase contract for a mobile home and then selling that contract to another investor or end-user buyer for a profit. While the profit margin may not always be substantial, high-demand areas can yield more significant assignment fees.

    5. Bird Dogging

    As a bird-dog, your role is to help investors find mobile homes for sale that fit their criteria. You identify for-sale-by-owner (FSBO) properties and match them with active mobile home investors. To succeed, it’s crucial to know the specific types and criteria each investor is looking for.

    Pro Tip: Your compensation typically depends on closed deals, so ensure your leads are followed up on.

    6. Adding Homes to the Community to Resell

    Many mobile home parks have vacant spaces for additional homes. Some offer incentive programs for park-approved homeowners who are willing to move in a park-approved mobile home. As an investor, you can find sellers who need their mobile homes relocated and sell them to new buyers. This process can be profitable if you leverage move-in incentive programs.

    Pro Tip: When speaking to community managers, inquire about move-in incentive programs and the types of mobile homes the park is willing to accept.

    7. Selling Directly to the Park

    In cases where you have a more expensive mobile home that must be moved after purchase, consider selling it directly to a local mobile home park. Ensure you understand what each park is looking for in a used mobile home and be prepared to show them pictures for approval. Parks usually pay you before handling the move, permits, and setup themselves.

    8. Moving Unwanted Mobile Homes from One Park to Another

    Sometimes, mobile home park owners want older or less attractive homes removed from their communities to make room for newer, more profitable homes. If a mobile home still has value, you can help move it to another location for resale or rent. Check with local mobile home movers and permit offices to verify the requirements for moving homes in your area.

    The Bottom Line

    Investing in mobile homes within mobile home parks offers various ways to generate income. While some strategies may be more realistic and profitable than others, success in this venture requires dedication, market knowledge, and active involvement. Always be aware that the real estate market can be unpredictable, so make informed decisions and take daily actions to achieve your financial goals. If you have questions or need guidance, reach out to experienced investors in the field for assistance. Mobile home investing can be a rewarding journey when approached with diligence and a commitment to learning and growing in the field.

     

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