RMR Homes was originally founded as a real estate business focused solely on acquiring manufactured home communities.
Since then we have grown our team, branched off into three business segments and greatly increased our ability to promote and develop the industry. RMR Homes is currently involved in all major aspects of the manufactured housing industry.
What We Do...
Acquire Stabilized Class A and B Communities
Ground-up MHC Development
Modular & Manufactured Home Sales
Active Involvement in MH State Associations
Vertically integrated management company
Top 100 mobile home park operator in the United States
Real estate partnership with proven track record
Manufactured Housing Communities
1. Limited competition
Majority of municipalities will never approve another mobile home park development. If you own one of the few parks in town, you have the tailwinds of a government forced monopoly. Compare this to apartments, where new developments are started every day. Real estate is all about supply & demand. It doesn't get any better than this, just ask Sam Zell.
2. Unlimited demand for affordable housing
51% of U.S. wage earners make less than $30,000 / year. There will always be a need for our inexpensive housing in our country.
3. High margins
Our residents own their homes and we rent them land. This land-lease model reduces operating expenses compared to other property types. How many businesses can you name over 50% operating margins?
4. Few players
The mobile home park industry is highly fragmented. Most parks are run by family operators. We are actively consolidating the market.
5. Misunderstood thus mispriced
Our parks are family oriented communities which are well suited for the working class. The park stigma deters most investors and provides higher yields. Our properties will garner you zero attention at dinner parties and we like it that way.
1. Legacy Assets
4 & 5 star RV resorts are meticulously maintained for decades. Over time, owners spend millions to maintain their brand and camper amenity packages.
2. Supply demand imbalance
In our opinion investors should study one metric: Annual RV units sold versus RV sites available in the country. Public industry data posted by CHM Government Services states there are 26,000 utility equipped RV sites available in private campgrounds. In 2020, RV dealerships sold over 400,000 new RVs. This is a jaw dropping statistic and begs the question, where will all of these RVs go? The majority of RV parks we acquire are already full with waitlists.
3. Sticky customer base
RMR focuses on seasonal parks. Our average camper tends to occupy the same site for three to five years. It is common to see campers make substantial capital improvements to their site including private bars, wrap around decks, and manicured landscaping.
4. Income visibility
Seasonal parks have the unique feature of providing us with rents in full prior to the camping season. This allows Management to determine the level of pre-leased sites and project income well in advance of operating expenses. With a strong brand and marketing presence, our parks tend to be 90% pre-leased.