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Before you decide to sell your manufactured home community/mobile home park there are several ways to increase the value of your investment and in doing so increase the value of the park and make it more saleable. Here is a list of 10

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

potential ways to increase the value of your mobile home park.

1. Raise Rents: A $10 per month rent increase at a valuation using a 10% capitalization rate, can increase the per lot value of $1,200.

2. Submeter Water, Sewer and Trash

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

: By installing water meters at each mobile home and billing the residents back for water and sewer and trash you are in effect increasing your bottom line. I often think this is one of the most equitable ways to pass on expenses to th

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

residents as they only pay for what they use. In my experience when meters have been installed the master water and sewer bill is reduced by 30-40% as your residents become conscious about the amount of water going through the faucets

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

. Leaky faucets are fixed, toilets no longer run continually, cars are not washed every day, etc.

3. Enforce Rules and Leases: By enforcing reasonable rules and regulations your mobile home community will be regarded as a safe and com

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

fortable environment. Get rid of problem tenants. If you are worried about losing the rent from one or two problem residents, consider that you may lose even more good residents and potential residents by keeping those that are causing

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

problems and not obeying the rules.

4. Reduce your Property Tax Expense: Contact a company that specializes in going to bat for you with your county tax assessor to get your valuation and taxes reduced. Many states and counties base t

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

he assessed value on the purchase price. However, most mobile home parks should have a business value component that should not be taxed as property tax. These companies often work for a % of the reduced taxes and you only pay them if

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

they are successful.

5. Reduce other ongoing expenses: Get multiple mobile home park insurance quotes, evaluate telephone costs and extras, negotiate with plumbers and electricians to get a lower hourly rate, etc.

6. Fill vacant mobi

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

e home lots: How much is a vacant lot worth? In many cases, a vacant lot is actually costing you money to keep the grass mowed, the lot clean, and so on. If your lot rent is $200 per month and based on a simple formula that a mobile ho

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

me lot is worth 60 times the monthly rent, then an occupied lot is worth $12,000. Would it make financial sense to spend $2,000 to cover the home moving costs of a potential resident? I believe it does. Other incentives I have used inc

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

lude, free or reduced rent for the first year or two, free installation of new skirting, free steps and decks, and the list goes on. Be creative and stay ahead of your competitors. It is much more effective to come up with 50 ways to m

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

rket to one customer rather than 1 way to market to 50 customers.

7. Buy manufactured homes for Resale or Rental. Buying used homes and placing them in your manufactured home community for resale or rental is another way to drasticall

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

y increase the value of your community. As mentioned before, each time you fill a vacant space, the value of your park increases. As a community owner you have an advantage over most mobile home retailers in that you do not need to mak

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

e a profit on the sale of new and used homes. If you profit by $12,000 per space in equity each time you add a new home, you can sell the homes at breakeven and be way ahead.

8. Increase the Curb Appeal: Encourage residents to clean u

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

their yards and property. Hold clean up days on a monthly basis. Have new and attractive signs installed at the entrances. Repair roads and maintain adequate street lighting. Have monthly rent discount incentives to the residents for

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

things such as: Property of the month, most improved property, etc. Additionally, offering financing for your residents for such things as new skirting, paint, wood siding, and other outside improvements can get their manufactured home

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

s looking better as well.

9. Add additional income sources: If you have some vacant land, consider adding some mini storage units, or fence it off and offer storage for RV's, Boats, and extra automobiles. If you have highway frontage,

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

look into placing billboards or selling easements to billboard companies. Look into getting Cable TV or Wi-Fi for the entire park and in doing so, your residents will get a break on these costs and you should be able to profit as well.

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

10. Dedicate streets and utilities to the city. Although is not too common for established communities, if you can talk your city into making this happen, you just reduced your exposure to street repairs, utility repairs and metering

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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