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Article: Upscale manufactured home communities? Really!(prefabricated landlease rental communities)(Cover Story)
- Article from:
- Journal of Property Management
- Article date:
- March 1, 1999
- Author:
CopyrightCOPYRIGHT 1999 National Association of Realtors. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Can you imagine spending $135,000 to purchase a new two-story home and then paying up to $2,000 per month rent for the 1,500 square feet lot where it's sited? Well, it happens every day at upscale manufactured home landlease communities in Southern California, the Chicagoland area (where the rental homesites are somewhat larger), and just outside Washington, D.C. And along with these elite, but growing, number of rental communities come unique property management challenges and untapped business opportunities.
A Little Background
The first golden era for manufactured housing - then called mobile homes - occurred in the early 1970s. In 1972, 575,940 new ...