Page 35 - IreitEbook
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The word “technically” is key here for
manufactured housing REITs. Because
while mobile homes or prefab homes
do afford the option of literally
“picking up and moving on” to varying
degrees, that doesn’t mean they’re
easy moves to make. Once a mobile
home is situated on its concrete slab or
otherwise designated position, most
owners stay there for the long haul.
In other words, manufactured
Now on to manufactured housing housing REITs enjoy very low turnover
REITs… rates, keeping them nice, stable
Manufactured housing, investments. Boring, perhaps, but
or mobile homes, involves home stable nonetheless.
ownership without property Our last residential category is
ownership. This allows landowners the single-family REIT, a newer idea
to rent out what they have by way that largely stemmed from the Great
of designated plots in designated Recession. They say that necessity is
communities, commonly known as the mother of all invention, and this
mobile home parks. particular line of thinking definitely
Prefabricated (or prefab) did emerge from a time of necessity.
communities, which are made up of What it involves is REITs buying
more traditional-looking homes that up traditional houses and then renting
are still technically movable, also fall them out, either to their previous
into this category. owners or new tenants as they come
along.
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