The difference between a Lot-rent or Lot-owned Mobile Home Community
Lot Rent Community
If you grew-up in a small community, you will remember the sense of belonging, of being part of a family, and of knowing your name. Imagine if you could relive that feeling.
This feeling is alive and well in mobile home lot rent communities or park. These communities are filled with residents who care about their neighbor's health and well-being.
Lot rent communities authorize you to own your home but rent the lot. These fees vary depending on the community. They can be anywhere from $300 to $1,500.
Your monthly fee usually covers lawn care, water treatment and use of community amenities. Your fee for resort-style communities may be slightly more, but it will often include access luxury amenities.
Residents can also enjoy many amenities such as a state-of the-art clubhouse if they have.
Ask the manager to discuss their guidelines when looking at lot rent communities. This will ensure that they are in line with your personal preferences. These guidelines were created to ensure a safe environment for residents and protect your investment.
The guidelines encourage residents to take pride and be proud of their communities. You can count on it as you drive down the street.
A lot rent park offers low upfront costs, which is a great advantage. There will be no property taxes associated with your home and you won't need to pay the upfront cost of buying land.
Lot rent mobile homes parks offer great value, affordability, great amenities and a sense community.
Although lot rent communities have many benefits, you don't actually own the land where your home is located. Land-owned manufactured homes communities allow residents to own both their home and the land.
Monthly fees are payable for use of the common areas, amenities, and facilities. You will pay less monthly rent for this option, but the initial cost of the land and home will be higher.
People with more capital can consider land-owned communities. Individual owners will own all lots in a Land Owned Subdivision. They form a Homeowners Association. To manage the common elements, the Association's members elect a board.
Many of the same small-town feel that lot-rent communities have, lot-owned communities retain much of their original character. These communities will host events and offer resort-style amenities but not as often as land-lease communities.
It can be difficult to choose a community for a manufactured home. No matter what you decide, you can be sure that you will make great friends and that your home will be a place you love and enjoy for many years.
If you need help or any questions about buying or selling your Mobile Home, please feel free to message us at Mobile Home Matadors or give us a call at (833) 603-0909 or email us at firstname.lastname@example.org.