Here’s a video I filmed for you about mobile home park management:
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Here’s the transcript:
Hi. It’s Jason Ayers from MobileHomeParkClassroom.com. Today we’re talking about Mobile Home Park Management and this is probably the most important area of owning a mobile home park next to finding the right park in the right area that has enough demand from the type of tenants that you want to have. The reason why mobile home park management is so important is because it has the ability to really shape the future in terms of whether or not you’re going to have a park that is going to provide you the profitability that you want.
The lifestyle that you want or whether or not you’re going to have a park that is going to stress you out and cause you to get phone calls in the middle of the night and cause you to have to go to the park and deal with all kinds issues. Hiring the right property manager or managing the property yourself the right way is critically important from who you put into the park to how you manage the park itself and to how you just run the overall operations.
The challenge is a lot of people try to just do this by learning on the job and that’s actually how we did it. I’ll tell you about that in just a minute. Learning on a job is very challenging with mobile home park property management because it’s probably the most difficult form of property management. Because you don’t own the homes which are sitting on your lots in many cases unless they’re park owned homes.
Which means not only do you have to select the right people but then you have to know how to manage them in a way that cause them to be happy, to follow the rules and to pay the rent on time even though you don’t own the home that they’re living in. Which causes you to have a little less psychological leverage in the situation. If you’re going to hire a property manager more than likely you’re going to … If you own your park for decent amount of time you’re going to end up hiring two or three or maybe even more property managers overtime.
We eventually figured out how to find the right property managers and things went very smoothly but the reality is people’s lives change. We have property managers who had to move to go and care for a loved one, others who just wanted to relocate to a different area. Unless you have a system for hiring and training the right property managers it can get really challenging specially if you have more than one park. At one point we had six parks in our apartment complex so it can really turn into a juggling act.
How we learned property management was by doing it and by making a lot of mistakes. My family has three generations in the mobile home park and RV park business. My grandparents were in the business, my parents were in the business, my brother and I grew up in the business. My brother went to run his own park, I went on to setup a marketing company and a training company to make it really easy to find and hire the right property managers and to train them. Then to go out and find tenants, the right kind of tenants and get them into the park.
Let me tell you, it was a painful process. We made a lot of mistakes, we got woken up in the night a lot and it was really challenging and it was really stressful. I think if the money hadn’t been as good as it was probably would have been smarter to do something else. Eventually after making all these mistakes and doing a lot of research and talking to other owners we eventually really got it dialed in.
Now it’s a very enjoyable, very profitable business that is easy to run and the reason why is because of the systems that we have in place. Both to train in property management and to attract the right kind of tenants. If you’re an owner and you’re thinking about managing your own park or hiring a property manager I’d encourage you to check out MobileHomeParkClassroom.com.
If you’re a property manager I’d encourage you to send an email to the owner of the park the tell them about MobileHomeParkClassroom.com. Because it will save them about 80 to 120 hours of training of their own time and about 4 to $6,000 of their time every time they hire a property manager. Naturally as a property manager you’ll have all the answers to your questions and you’ll know what to do and pretty much any situation that you’re going to run into in the mobile home park or RV park business.