Sellers are sifting through offers well above their asking price, and housing appreciation rates are skyrocketing into the double digits. The real estate market is red hot with no signs of slowing down. Unfortunately, supply can’t keep up with the demand; seasoned homeowners and first-time buyers alike are feeling more and more defeated after every bidding war.
A More Affordable Way to Expand Your Portfolio
Investors eager to expand their portfolios in this outrageously competitive real estate market are searching for more accessible and affordable options. Amidst the chaos, however, manufactured housing communities are flourishing. Many modern manufactured homes remain affordable while also coming equipped with the sought-after touches and amenities renters desire.
Mutual Benefits for Owners & Residents
For family renters, securing a manufactured housing (MH) rental can be ideal. The Manufactured Housing Institute reported that national MH communities’ rents range from $375-$425 per month, while a two-bedroom apartment averages $1,103 in most rental markets across the country.
MH designers, investors, owners, and managers have worked tirelessly to debunk the myths and stigmas surrounding manufactured homes that Hollywood has perpetuated for decades. These communities are not downtrodden, untrustworthy, or unkempt. In fact, many thriving MH communities provide more space, offer recreational centers, high-quality pools, host events for residents, and premium amenities for a reduced cost.
First-time MH investors also enjoy a sense of security that’s not currently available in the single-family housing market. BiggerPockets listed the major benefits of adding MH properties to your portfolio, including low and predictable maintenance expenses, long-term tenants, and increased demand.
How Rent Manager Can Help Manage Your Manufactured Home Assets
Rent Manager is one of the most MH-friendly software solutions on the market. Our Assets* feature allows you to manage and track a variety of community assets—including furnaces, kitchen appliances, company vehicles, and manufactured homes. Users can link assets to a property, rent them to tenants via Leases*, link to their physical location, as well as track their warranties and condition through Asset Statuses*. You can easily charge lot and home rent separately through this streamlined system.
Rent Manager tracks every important asset detail, allowing you to make informed and data-driven decisions moving forward. We make it easy to make the most of your manufactured housing communities. We’d love to give you a firsthand tour of our vast MH capabilities. Let us know what you’d like to see and we’ll make it happen.
*To learn more about these Rent Manager features, press the F1 key in your Rent Manager database to access the Help File.