Land-lease communities
Distinguish rented sites from homes or other assets included in the sale.
Manufactured housing communities
A community is more than its pad count.
Updated September 5, 2026
Community economics depend on occupied sites, who owns the homes and who maintains the infrastructure. Provenial evaluates manufactured housing opportunities with those responsibilities visible from the beginning.
The opportunity
What matters in the deal.
Community-owned homes
Track the income, condition and maintenance burden of owned homes separately from lot rent.
Infrastructure work ahead
Water, wastewater, roads and electrical systems can shape both the budget and the operating transition.
Before the first conversation
Who owns the income and the obligations?
An accurate site schedule is more useful than a single occupancy percentage.
Site inventory
Which sites are occupied, vacant, offline or not established?
Planned or unusable sites should not be counted as rent-producing inventory.
Home ownership
Which homes belong to the community and which to residents?
Home ownership changes maintenance, replacement and operating responsibilities.
Utilities
Who supplies, bills and maintains each utility system?
Private infrastructure and unrecovered utility costs can materially change cash needs.
Collections and work
What is collected, and what must be repaired soon?
Separate current site income from deferred maintenance and projected occupancy.
Your next move
Start with your position.
Provide the site and utility picture
Share the location, site schedule, home-ownership breakdown, collections and known infrastructure needs. Include the reason for the transition and any relevant loan timing.
Bring us the opportunityDescribe community operating experience
An acquisition discussion should identify the experience and staffing needed for the same home-ownership and utility model. Operating a rental house portfolio is not the same assignment.
Share your criteriaMake responsibilities explicit
For a particular community, define the operator, infrastructure budget, resident-service responsibilities and future capital needs. Current income and planned site additions should remain separate.
Describe the partnershipFrequently asked questions
Is a mobile home park the same investment as an RV park?
No. The home-ownership model, resident tenure, site income and operating requirements can differ substantially. Use the manufactured housing category when those community features drive the property.
What should the site schedule show?
List site identifiers, occupancy, rent, home ownership, utility arrangements and known offline conditions. Keep approved but unbuilt sites and proposed expansion separate from existing occupied sites.
Why separate community-owned homes from lot rent?
Owned homes add their own condition, maintenance and replacement requirements. Combining all receipts into one rent figure can hide the costs and responsibilities associated with those homes.
What if utilities need significant work?
Identify the system, known issue, available reports and any current estimate. The work needs its own scope and funding discussion rather than an unallocated allowance in the purchase price.
Texas real estate
Let’s look at the actual opportunity.
Begin with the location, your role, the economics and the next decision.
Start a conversation