How much is lot rent for a mobile home? The monthly rent for the land under a manufactured home in a park, paid on top of whatever the home itself costs to own.
Lot rent is what the owner of a manufactured home pays the park for the space the home sits on. The two are separate purchases: the home is bought, financed and insured on its own, and the ground under it is rented, on a lease or month to month, the way an apartment is. It is why a mobile home advertised at $60,000 is not a $60,000 housing cost, and why the lot rent figure moves the arithmetic more than the purchase price does.
What the rent covers varies by park and is written into the rental agreement: the pad and the space, the utility hookups, the roads and common areas, refuse collection, and at some parks water and sewer. Electricity and gas are usually the resident's own accounts. Public figures for lot rent run from a few hundred dollars a month to over a thousand in higher-cost metros, with amenity-heavy and age-restricted parks at the top of that range. The park's current figure is the only reliable one.
Nevada puts this tenancy in its own statute, NRS chapter 118B, separate from the chapter covering apartments. A rent increase requires written notice received by the tenant 90 days before the first increased payment (NRS 118B.150), and the chapter also governs the rental agreement, the park's rules and the grounds for ending a tenancy. The financing side is the other half of the cost: a home that has not been converted to real property is personal property, bought with a chattel loan rather than a mortgage, at shorter terms and higher rates, while the lot stays a tenancy however long the home stands on it.
A worked example
A used manufactured home in a valley park sells for $75,000 with lot rent at $650 a month. A chattel loan at 9 percent over 20 years runs about $675 a month, so the housing cost is roughly $1,325 before utilities and insurance. A 90-day notice raising the lot rent to $725 lifts it to $1,400, and moving the home costs thousands, which is what makes the notice period matter.
Manufactured homes for sale in Las Vegas
Questions people ask
Does lot rent go up?
Yes. In Nevada a manufactured home park must give written notice that the tenant receives 90 days before the first increased payment, under NRS 118B.150. There is no state cap on the size of the increase itself.
Do you pay lot rent if you own the land?
No. A manufactured home on land the owner also owns, converted to real property, has property taxes instead of lot rent. The listing is where the difference shows up, and the county's land-use code is what records that the home is manufactured at all.