Mobile Home Rental ... can't be that easy??

[anonymous-user]

I have a friend who is being convinced to buy a mobile home on a plot then rent it out. I believe they are community charge free if only occupied for 11.1 months a year or something. he would need to pay ground rent and repairs etc. It sounds very easy money the way it is being sold but if it was why wouldn't the site owner just buy and rent all the mobile homes him/her self ?

Does (or has) anyone tried this? Is it likely to turn a good profit ?

Many thanks.

[dalenorth]

Site fees are normally astronomical

[Wacky Racer]

In my experience if you buy a new mobile home on a site for say 40k, it's worth £2k after ten years if you are lucky.

READ THE SMALL PRINT in the contract.

[anonymous-user]

dalenorth said:

Site fees are normally astronomical

And they have a habit of kicking you out if there's a pandemic, especially in North Wales.

[Si1295]

Usually the contract has a stipulation that if you want to rent it out it has to be done by the park owners

[hellorent]

As above ^^^ and also check that once it gets to certain age you have to change it (via park owners usually)

[anonymous-user]

Wacky Racer said:

In my experience if you buy a new mobile home on a site for say 40k, it's worth £2k after ten years if you are lucky.

READ THE SMALL PRINT in the contract.

This.

In addition to the absolutely massive depreciation, there will likely be small print that says you HAVE TO replace the mobile home with a brand new one after so many years, or whenever the site seems it necessary.

These mobile home sites often look like a very cheap way of getting somewhere to live or a holiday home, but in reality they can be extremely bad value.

But, look on the bright side, you get to tell people you live on a ‘trailer park’.

[Camelot1971]

One Haven park down south charges over 9k a year just in fees!

[Simpo Two]

MikeStroud said:

I have a friend who is being convinced to buy a mobile home on a plot then rent it out.

Convinced by whom? If it was an unsolicited phone call/brochure then tell them to run away.

[anonymous-user]

Thanks all for your advice, kind of reinforces my view that it's the park owners that will make the money not the home owner.

[A205GTI]

Get your friend to read this, although old it shows how they operate, this is our Friend Mr Tom Hartley who sell exotic cars.

I would never buy from him based on this (And the documentry I watched on Him and his Son Jr)

https://publications.parliament.uk/pa/cm200304/cmh...