Gen Y. Millennials. Internet Generation. Boomerang Generation. Echo Boomers. Trophy Kids. Whatever you call them, they are making a profound statement on both the marketplace and workforce in the US. Coming in at 83 million strong, they rival the Baby Boomers of 63 million and we should pay attention to this group!
Do I need a license to sell manufactured homes?
Yes. Individuals or entities that sell a manufactured home on behalf of another person have always required a license.
A manufactured home community manager's job today is much more than collecting rents and maintaining a community. Working to maintain the good will of the residents is equally important. This is not so much an extra task as it is a matter of style dependent upon how you conduct yourself as you manage the business of the community. You are the leader in the community. The ability to see yourself as others see you will do a lot to make your job easier.
With the summer soon to become a distant memory, it is time to prepare our communities for fall and winter here in the Northwest! It is EASY to take a breather after summer, the busiest landscape time of the year, but there is a legion of tasks ahead that need our attention:
Thinking of selling your manufactured home community? This is the market you want to be in! Oregon mobile home park sellers are seeing high demand for their product, and a park with good fundamentals in strong locations -- priced correctly -- will sell quickly.
Stating the obvious: Rules and Regulations (aka Guidelines For Living) set forth living and maintenance behavior which a MHC Resident must follow while living in your community. These R&Rs can include items like maintaining yards, limiting on-street parking, allowing or prohibiting fences, cleaning up after pets, deck sizes, night time quite hours and a whole host of other items governing how your community is maintained and used.
Q: What happens after I give them the financial information?
A: The tenants committee must (1) form a corporate entity that is legally capable of purchasing property or associate with a nonprofit corporation or housing authority that is legally capable of purchasing real property or that is advising the tenants about purchasing the park in which the tenants reside; and (2) submit a written offer to purchase the park, in the form of a proposed purchase and sale agreement, and either a copy of the articles of incorporation of the newly formed entity .
Just imagine, roaming the Western United States in your RV, not a care in the world, cheap living, and finally, settling in a MHP in Beautiful Oregon! A dream come true for a lot of senior citizens. Filling vacant spaces can be the most important improvement made to any Mobile Home Park and because there is a growing trend for people, especially seniors, to live in RV's full time, park owners are filling spaces with "Permanent RV" tenants. This certainly will fill spaces quickly and with minimal cost to the park. Additionally, living in an RV is one of the most affordable ways to live and many of the RV's are larger than a studio apartment. Apparently, the new trend in apartment building is studio apartments with as little as 200 square feet! Therefore, filling spaces with "Permanent RV's" seems to be a win-win situation, but there are some long term fallbacks that should be considered.
We at First Commercial Property Corp. have had a busier winter and Spring than we have EVER had as Managers of MHCs these last 35 years; opening our new Oregon Office, hiring Sally Harrington, John Cox and Scott Mullens, and focusing on positioning properties for SPRING/SUMMER cleanups! Speaking of which, it is summer, and the only thing that prevents MHCs from being the best they can possibly be is our imaginations! Why not take advantage of the season, and slowly WALK through your community with "fresh eyes!" There is plenty to do and see:
Over the past several months I have received many requests from clients who are thinking of selling their community. Here are a few questions that have been asked and my answers (First of Two Parts):
Q: If I am thinking of selling my park, when do I have to send notice to my tenants?