If you’re looking to start a mobile home park, you’re probably here because you care to know exactly what you’d be getting into before making an investment. It’s good to gather information before pushing towards a big investment.
Knowing the answer to questions like, “how long do manufactured homes last?” will help you determine the profitability and longevity of your park. In this article, we’ll provide this information to help you plan out your business strategy for a smooth running mobile home park operation.
How long do manufactured homes last?
A manufactured home’s life expectancy is thirty to fifty-five years, and this is all contingent on the homeowner’s care and love of their home.
With both made out of wood and metal, the big difference between a site built home and a manufactured home is the fact that a manufactured home is much lighter. This is due to these homes not having brick and masonry work built into their design.
And poor installation can compromise your mobile home’s structural integrity. While the effect of a poor install will not show immediately, over time the damage incurred could be devastating.
One of the other contributing factors toward shortening your mobile home’s life expectancy is a poorly constructed foundation. This can mess with your home’s framing, throwing other features such as doors off center.
Nevertheless, there are some things you can do to lengthen the manufactured home’s life-span. Go the extra mile to do things like maintaining your roof, installing skirting, and scheduling a yearly inspection for a level home. You’ll be glad you did.
How does this affect a mobile home park?
Of course, knowing how long manufactured homes last implies some basic things you’ll need to arrange. This knowledge affects how your park operates and deals with potential park residents.
Lease agreement details
In the lease agreement, you should have eviction details written out, including what should happen in the case that your home is significantly deteriorated or in disrepair. An eviction can be required regardless of when the rental renewal period is due.
And remember, you cannot typically evict someone without notice. There is a process involved, and it should be noted in the lease agreement.
A notice of termination of the tenancy gives the mobile home park resident a reasonable amount of time to repair the home if the repairs fall on their plate of responsibility. An extension may be requested if needed.
Otherwise, the tenant must evacuate the premise. Depending on the level of danger the home’s disrepair is in, the tenant may be required to leave within a short period of time.
When and how to dispose of mobile homes in your park
So now we stand at a new juncture with having to settle on when and how to dispose of unsalvageable manufactured homes in your park.
To begin with, you cannot simply dispose of the home on a whim. You will need to go through proper procedures and clearance to bring this about.
If it’s a mobile home you own and rent out in your park, you could demolish it, relocate it, sell it, deconstruct it, or donate it. If you choose to demolish the manufactured home, you’ll need to find and secure the appropriate permits for your home’s location. It could cost you up to $350 in permits, depending on where you live. If you have a contractor taking care of the demolition, inquire whether the permits will be included in his fees.
Without a doubt, demolition is going to be the quickest and least expensive method of removing the mobile home. It can cost up to $5000 for the whole process.
With deconstruction, you’ll need a permit too which will cost about the same as a demolition permit. As far as cost is concerned, you’re looking at spending up to $8,000. This method of home removal can take several days. It’s more environmentally friendly and it’s better for recovering salvageable material.
Once again, permits are a requirement if you’re going to relocate a mobile home. You’re looking at spending up to $3,500 per mobile home section. (Say you have a double-wide to move, they’ll move it just as they originally relocated it. In two parts.)
This is more expensive than demolition, for sure. And it’s may not even be a valid option if your home is in a dilapidated condition.
Lastly, you may consider donating your mobile home for a tax write-off. Fire departments could use it for training exercises. Ask them what would be required on your part for them to be able to use it for their training. Laws differ on this from state to state.
If it’s a mobile home someone left in your park, you’ll need to obtain the proper state permissions. A court must first determine if the home is truly abandoned. If it is, rights will be given to the mobile home park owner for the home’s removal. If not, the court will order the homeowner to sell it or come to an agreement with the mortgage company for appeasing the mobile home park owner.
Make sure your investment will last!
Now you know how to answer to “how long do manufactured homes last?” Taking the extra time to check on the condition of your rental lots and mobile homes can increase the longevity of these structures. With a good profit turn around, it’s well worth the investment.