Built for mobile home parks
Mobile Home Park Underwriting Software
Mobile home parks live and die on the difference between lot rent and park-owned homes, and on infrastructure the seller would rather you not scrutinize. RVP Underwriter reads both.
Where MHP deals go wrong
The classic mistakes: valuing park-owned-home income at the same multiple as lot rent, when the homes are depreciating assets with real maintenance, not land; missing the cost of master-metered utilities the owner eats; and ignoring the reserve every park needs for roads and its private water and septic systems. Lot rent is beautifully recurring; everything bolted onto it needs a harder look.
How RVP Underwriter handles it
- Separates lot rent from park-owned-home income and sizes reserves per lot plus a real figure for every park-owned home.
- Handles utility reimbursements and RUBS so recovered costs are not double counted or missed.
- Computes economic occupancy from the rent roll and normalizes a management fee and taxes at their reassessed level.
- Treats stable lot rent as the recurring base it is, then stresses the deal against vacancy, rate, and expense shocks.
What you get
A defensible NOI, a verdict, three offer structures, and the Dealmaker report suite with the pre-populated Excel model. Check the fundamentals with the NOI and DSCR calculators, and learn the red flags in red flags and risks to price in.
The whole workflow, in about two minutes
Drop the offering memorandum, T-12, and rent roll into RVP Underwriter. It reads them, rebuilds the NOI, verifies occupancy, researches your county's taxes and insurance, prices three offer structures, and generates the report suite including the pre-populated Excel model. Start free.
Questions
Does it separate lot rent from park-owned homes?
Yes. Park-owned-home income and its costs are treated differently from lot rent, because the homes are depreciating assets with maintenance and turnover, not land, and they carry their own reserve.
How does it handle utilities and RUBS?
It accounts for utility reimbursements and ratio utility billing so recovered costs are neither missed nor double counted, and it normalizes owner-paid utilities into the expense picture.
Also for
RVP Underwriter underwrites income property across asset types. See who it is for, the features, or just run your deal free.