New mobile home to rent?

**RLD** · 04-27-2009, 04:52 PM

I own a nice piece of land in a rural area that includes a mobile home besides our main residence.

The mobile home is currently being rented out at a rather charitable rate.

I'd like to replace it with a new model and rent it for a more appropriate amount.

With the current economic state is it a good idea to push forward with this?

Are there more renters now seeing that home loans are a little harder to come by?

How do I figure the appropriate rental rate for the area?

Are lenders even more finicky about these types of loans verses your typical house?

Thanks for any help in advance

**Greg** · 04-28-2009, 05:02 AM

Originally Posted by RLD

I own a nice piece of land in a rural area that includes a mobile home besides our main residence.

The mobile home is currently being rented out at a rather charitable rate.

I'd like to replace it with a new model and rent it for a more appropriate amount.

With the current economic state is it a good idea to push forward with this?

Are there more renters now seeing that home loans are a little harder to come by?

How do I figure the appropriate rental rate for the area?

Are lenders even more finicky about these types of loans verses your typical house?

Thanks for any help in advance

Make sure trailers are still a permitted use before you remove the one you have. A lot of areas are zoning trailers out of existence.

You have to look locally to determine rental vacancy and rates. Your news paper should have ads for renters. Follow the paper and if a lot of ads never go away then there is a shortage of renters.

You will probably have to get your loan from the mobile home manufacturer.