Andrew Keel, Chief Executive Officer at Keel Team Mobile Home Park Investments, overseeing the company’s acquisitions and investor relations
Mobile home parks have quietly become a cornerstone of America’s affordable housing landscape. More than 22 million Americans live in manufactured homes nationwide—making up roughly 6% to 7% of U.S. households. Unlike traditional rentals, mobile home park residents typically own their homes but rent the land beneath them from the operators, a unique ownership structure that can offer both opportunity and tension.
As investor-owned mobile home parks proliferate—with institutional ownership of mobile home parks growing markedly over recent years—the question arises: how can investors sustainably balance profitability with resident stability and satisfaction?
This article examines innovative mobile home park investor strategies that empower residents who own their homes without requiring land ownership transfers, delivering win-win outcomes for both communities and capital.
The Dual-Ownership Dynamic: Opportunity And Tension
Mobile home residents often own their manufactured homes outright or via financing, but lease the lot from mobile home park owners. This provides a path to homeownership for many lower- and moderate-income families—a critical factor in housing affordability, especially as median home prices, have risen roughly 65% (adjusted for inflation) since 2020.
However, the separation of land and home ownership creates vulnerability. According to The Pew Charitable Trusts, homeowners who rent their land face rising lot costs and potential eviction risks. In some states, such as Florida, median lot rent nearly doubled between 2015 and 2023, outpacing income growth for many residents. This disconnect fuels displacement risks despite residents’ substantial investments in their homes.
Innovative Mobile Home Park Investor Strategies Supporting Resident Homeowners
Forward-thinking mobile home park investors recognize that stable, satisfied residents create value beyond short-term rent hikes. Here are proven strategies gaining traction:
1. Long-Term, Predictable Lot-Lease Agreements
Some mobile home park investors offer multi-year lease agreements with rent caps, reducing uncertainty for residents and stabilizing cash flow. As Sunrise Capital Investors CEO Kevin Bupp notes in episode 8 of my podcast, “Predictability in lot rent builds trust and reduces turnover costs; it’s simply good business.” (Note: I have no financial relationship with Sunrise Capital Investors.)
2. Home Purchase And Improvement Assistance Programs
Some mobile home park investors and nonprofit partners provide funding and support to help residents improve their homes and enhance community living conditions. Programs such as Colorado’s Mobile Home Park Acquisition Fund (Proposition 123/SB 22‑160) offer low-interest loans and grants to eligible resident organizations and homeowners for park acquisition, infrastructure upgrades and individual home repairs or improvements.
These initiatives enable residents to modernize their homes, increase safety and accessibility and foster greater community pride while supporting long-term stability in the park.
3. Active Resident Engagement And Transparent Communication
From personal experience, I can say that mobile home park communities with stronger resident engagement experience lower vacancy and eviction rates, even without formal ownership transfers. Similarly, I’ve seen how mobile home parks where investors host quarterly town halls and maintain open feedback channels experience fewer disputes and higher retention.
4. Investment In Infrastructure And Amenities
Upgrading roads, utilities and community spaces can create a positive living environment and justify moderate rent increases. In Richmond, Virginia, the Bermuda Estates Mobile Home Park partnered with the nonprofit Project:HOMES and local government to improve infrastructure while maintaining affordability—a model showing promise for wider adoption.
Resident-Focused Success: The Keel Team’s Approach
At one of our mobile home parks, we implemented a resident-focused approach combining lease clarity and home improvement support with broader community upgrades. This approach aligns with our value-add strategy of refurbishing homes, infilling lots and upgrading infrastructure to enhance both resident satisfaction and park operations.
Residents have shared that predictable lease terms and access to home improvement resources help them feel more secure and invested in their community. We believe it’s possible to create thriving communities while supporting long-term, sustainable returns for investors.
Policy And Market Tailwinds
Government attention on mobile home park affordability is growing. While states such as California and Washington have introduced rent stabilization laws, national policy momentum is also building to preserve manufactured housing affordability.
According to the National Low Income Housing Coalition, expanding supportive funding programs can help sustain communities and attract socially responsible investment, though balancing affordability goals with operational flexibility remains essential for long-term mobile home park viability.
The Path Forward
As an executive in this space, I believe owning the home but renting the land will probably remain the predominant model for mobile home parks. Mobile home park investors who emphasize resident stability, transparent communication and reinvestment in infrastructure—without relinquishing land ownership—are positioned to build both mobile home park community resilience and sustainable returns.
By fostering transparent leases, resident empowerment and community investment, mobile home park investors can transform a potential source of conflict into a collaborative, sustainable opportunity, creating lasting value for both residents and capital.
(For readers interested in exploring resident-focused strategies and practical insights in mobile home park investing, additional resources and case studies are available through the Keel Team website.)
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