How to Rent Mobile Home Lots in a Down Economy

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How to Rent Mobile Home Lots in a Down Economy. A bad economy means financial problems for most people, and landlords for mobile home parks have problems filling spaces. From the incredibly wealthy to those with lower cash flows, people consider buying mobile homes, the wealthy to rent them out and the less wealthy to live in them.

Find Tenants for Your Empty Lots

Advertise your lots anywhere possible. Utilize free resources online and in the community first. Make sure you're getting good deals on the advertising for which you have to pay. Consider listing the available lots with a real estate agent, who can find renters as well as buyers.

Show prospective tenants why your mobile home park is better than the others. Explain possible amenities such as a pool, walking trails, a clubhouse, proximity to shopping and public transportation and a great view.

Keep your prices competitive and underpriced if possible. Saving a few dollars on rent makes a huge difference when everything else is basically the same.

Offer benefits to new long-term renters and bonuses for renters who've paid reliably and been around for awhile. They may seriously consider staying for another year if you throw in a month of discounted or free rent.

Negotiate a Lot Rent for Your Mobile Home

Look at all of the mobile home parks in the area and compare their prices and amenities. Narrow your choices down to four or five at the most.

Meet with the landlords of the mobile home parks. Discuss the standard terms of renting a pad and find out every amenity included in the rent. Don't sign any lease agreements that day.

Decide the value of the pad rental with any included amenities. Choose a mobile home park and decide how much you want the pad rent to be reduced.

Prepare counter-arguments to what the landlord says. Learn about the current economic situation, and find out how difficult it is to buy mobile homes and find tenants.

Get a copy of the lease and read through it. Decide on a negotiation strategy. Remember that the landlord has already approved you as a signer on the lease, and the better a tenant you make and the worse the economic situation in the area, the stronger your bargaining stance will be.

Make sure that the landlord or someone with the authority to negotiate is there and not a broker. Go to the lease signing ready to negotiate.

Tips & Warnings

  • If you want to rent your trailer to someone else, make sure there's a provision in the lease agreement allowing you to sublet the lot.
  • Don't issue any ultimatums unless you're prepared to follow through on them. If you're signing the lease whether he concedes or not, don't tell the landlord you won't sign the lease without the concessions.

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