The MHP Expert Podcast is back! As always, I’m joined by my esteemed colleague, marketing expert Jason Sirotin. Today, we discuss the process of MHP property management. There’s so much that goes into managing a park. We won’t sugarcoat things; it’s a grind for sure.
But with supports like the Mobile Home Park Expert, you’re never alone in your MHP journey. As a park manager, there’s a lot of day to day obligations that can make or break operations. I myself have a ton of experience in this way, and am happy to share what I’ve gathered along the way.
Why You Shouldn’t Manage A Park You Own
In short, the MHP property management effort has tons of layers. If you’re a park owner, the best thing you can do is avoid the responsibility altogether. Instead, it is of great value to allocate these duties to an entirely separate position. It’ll cost more to pay their salary, but in the end, you’ll thank yourself for the missed headache.
Otherwise, you’re signing up to, in effect, sign your free time away for the duration of your ownership. The more spacious your park, the more the responsibilities will begin to pile. Luckily, there are qualified people out there who make these proceedings their priorities. Find one if you can, and start working towards building your team’s strength.
My Experience As An MHP Property Manager
When I was managing my own park, I got a firsthand lesson in what all goes into the effort. After answering the needs of over 300 homes in the park, I can say in all fairness it wasn’t worth the expenditures. From maintenance work, to staying on top of tenants’ rents, record keeping, and beyond.
There were also the revenues and expenses, managing staff’s efforts (and not mention personalities); the list goes on. There’s also your relationship with your respective municipality. Get ready to put your political hat on. Staying within their good graces could mean the difference between keeping your park open, being forced to sell out of desperation, or shutting it’s doors altogether.
Using Outside Resources
Regardless of who ultimately ends up managing, there are some key processes you’ll want refined. Take tenant screening, for example. Having a solid schema for taking on new inhabitants can help you avoid a ton of concerns. Rent Butter, who we’ve featured on the MHP Expert many times, is a great resource in this way.
Their third party screening is tested and validated many times over. They’ll take the pressure off of you and ensure you’re only getting quality tenants in your park’s homes. Check out their home site here for a full picture of the value they can add to your efforts. In short, it’s qualified people ensuring the passage of credible tenants.
The MHP Expert Podcast
Be sure to check out the remainder of our conversation at the clip above. Like all of our episodes, it’s packed full of need to know information for all interested in the MHP space. Have more questions for us? Check out our services page to get the full scoop on how we can help. Then, feel free to reach out to us to learn more!