If you are looking for a flexible, affordable rental property that will deliver excellent value, a park model home is a fantastic choice. In this post, we will explain the advantages of renting out a park model house in detail, so you can figure out whether it is the right choice to add to your portfolio.
- A simple, affordable investment
For a lot of people, the idea of buying a traditional house or an apartment building to rent out may sound appealing, but it is simply not practical. There are a lot of complexities that go with purchasing these types of properties and maintaining them. Plus, for a large chunk of the population, they are flat-out unaffordable.
Buying a park model home to rent out is much more straightforward and cost-effective. Not only will your initial investment be reasonable, but in many states, you may not even have to pay property taxes on your park model home as it will be classified as an RV. This maximizes your return on investment.
- Place your park model house rental anywhere.
With a traditional rental property, wherever it happens to be, that is where it will always be. But you can relocate a park model rental as needed. If one area stops drawing renters or guests, you can transport it to a different part of the country that is attracting more residents or tourists.
- Leverage the popularity of the tiny house trend.
Tiny homes have been a big deal for years now. And if anything, this trend is just picking up pace! Many cities and counties are adopting more tiny-friendly rules and regulations, and we expect more and more people to take an interest in living in a tiny home.
A lot of people want to try before they buy, or even just stay in a tiny house for fun. By investing in a park model house as a rental, you can take full advantage of this trend, delivering the tiny living experience that is in such high demand.
- Easy and affordable to clean and maintain.
If you are offering short-term rentals (i.e. vacation stays) out of your park model home, it is going to need regularly cleaning. Thankfully, that is extremely fast and easy in most park model houses, thanks to their open layouts and hardwood or tile flooring.
Maintaining a park model home is also affordable. On a tiny house, it is easy to keep an eye out for potential problems, allowing you to catch them quickly before they get bigger. In a larger house or apartment building, small problems are more likely to be hidden. By the time you catch them, they may already be quite large and expensive.
- Customize your property to stand out.
In theory, you can customize any type of property you own. But tiny houses are especially easy to personalize thanks to their small size. If you want, you can customize every square inch with your own unique style. If you manage to make your park model home unique enough, its style alone may be enough to draw renters who want to indulge in the distinctive ambiance you have created.
- Appeal to a wide range of renters.
Compared to, say, a hotel room, a park model home offers a lot more flexibility to short-term renters.
The park model homes we offer feature at least one downstairs bedroom, and often, a loft.
A family with two or three children can be equally comfortable staying in a park model home as a childless single person or couple. That means that you may appeal to a much wider base of renters and vacationers than you would be able to with some other types of properties. Ultimately, that means more potential revenue for you.
- Use it yourself when you want to.
Finally, one more great thing about investing in a park model home as a rental is that you do not have to rent it out all the time.
You could, for example, make it your vacation home. During part of the year, you can live in it. And when you are not living it, you can make it available to tenants or guests.
Another option would be to eventually move into the park model home yourself. You may discover you are so enamored with tiny living after getting a park model that it starts to look more appealing than your current residence.
Some people move into their park model homes, but keep their original residences. They then rent those original residences out to tenants (if the property you are renting out is larger, you might be able to pull in even more money from it).
Others may eventually decide to get out of the rental game altogether. When they do, they may decide to sell their original homes, and then move permanently into their park model homes.
Design Your Custom Park Model Rental
If you are excited about the possibilities that go with a park model home as a rental property, please give us a call. Tell us about your plans and goals, and we will share layouts with you that will help you achieve them. We can then work with you to pick customization options that will be ideally suited to your requirements.
