So You Want to Live in a Park in Los Angeles County?
Mobile Homes in Los Angeles
When it comes to buying or renting a home, many frequently asked questions revolve around the topic of mobile home lot rent or lot leases. This article will explain what a lot of rent is, mobile homes in Los Angeles, the cost, and why it matters.
How Much Does Lot Rent Cost? The amount of lot rent a resident pays will vary depending on the market where the homes are. Here in Los Angeles County, where housing is at a premium, you can expect to pay more than residents in smaller cities or rural areas. This is especially true for areas that have very high home values. For example, Royal Western Park in Gardena sits on the border of Torrance, and residents of the park qualify to send their children to Torrance public schools, where the typical home value of homes in Torrance is $892,423, so Royal Western Park charges a premium lot rent of $1,800 a month. Compare that with Compton where the typical home value of homes is $464,520 and nearby parks charge around $900 a month in lot rent. Lot rent may also go up depending on the type of mobile home community you live in, regardless of where the community is located. In keeping with the same example, lot rent at Royal Western can go up about 6% each year (around $108 at the current lot rent for new residents). In January 2021 residents in Royal Western paying $1,800 can expect to pay more than $1,900 in lot rent should the park decide to go up 6%.
What Does it Pay For Utilities?
A good question to ask a community manager is What is included in my lot rent? While some mobile home parks in Los Angeles county roll monthly utility payments and other services into the lot rent, many park owners in Los Angeles county only roll the other services into the lot rent. Royal Western Park does not include utilities with the lot rent, so a homeowner, or potential homeowner, there will also have to factor in the cost of gas and electricity, water, garbage, and sewage, for example. You can learn more about how we work and how we can help you.
Amenities If there are a lot of amenities, or high-price amenities, such as a clubhouse, pool, walking trails, workout facilities and such, you can expect to pay more.
Property taxes The community owner has to pay taxes on the property, so part of any residents monthly lot rent will go toward property taxes. The good news is that lot rent on a mobile home is tax deductible your monthly payments can be submitted on your state income tax return.
What Happens If I Dont Pay My Lot Rent?
Residents who fall behind on the lot rental payment will receive notice from the park manager or community operator. As a result, if a resident doesnt respond, or cant pay, the manager or owner of the property likely will begin the eviction process. A lawsuit may be filed, which means a judge could order the home be removed from the park.This can result in a very tough situation for older homes because homes that are pre-HUD (homes manufactured prior to 1976) generally cannot legally be moved from one park to another as it cannot pass HUD inspection. However, some parks will still allow pre-HUD homes. Do your due diligence before signing a lease with a park with high lot rent.As always, please feel free to add any comments or ask questions below!