Glossary
Manufactured Housing Community
A community where residents own their homes and lease the improved land (pad) beneath them.
A manufactured housing community (commonly 'mobile home park') is a lot-lease community in which residents typically own their homes and lease the improved pad from the community owner. Because the owner's value is created in the land, pads, and utilities rather than the homes, the category tends toward low turnover, constrained supply, and durable cash flow.