Property Q&A in San Jose>Question Details

Elissa Kasow, Home Buyer in San Jose, CA

what is the space rent?

Asked by Elissa Kasow, San Jose, CA Wed Dec 10, 2008

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This question is about this property: http://www.trulia.com/property/1072312234-3637-Snell-Ave-314…

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Answers

3
Dear Elissa,

Let me explain. In a Mobile Home Park, the LAND is owned by the owner of the Park. You can own the moblie home, on an allocated SPACE in the Park, and so you are then paying the "Space Rent" to the park owner, as you do not own the land on which the mobile home sits on. You only own the structure and are paying the space rent for this structure sitting on the Park owners land! Yes, it is quite high most times...the rent may increase sometimes while the mobile home value only decreases as time goes by.
Hope this helps. If you need any other information or help, please feel free to call me 408-7773823.
Be well and safe,
Nina Daruwalla
0 votes Thank Flag Link Wed Dec 10, 2008
Elissa, It's $942. I have a manufactured home dealers license. Let me know if I can ever help out in any way.

Glen
Real Estate Broker
Web Reference: http://www.maui4rent.com
0 votes Thank Flag Link Wed Dec 10, 2008
Interestingly there are 4 properties in that park 3637 Snell listed at $69K and the space rent varies.

At 314, it is $942

At 418, it is $1349

At 89, it is $1440

At 113, it is $790

Let me know if you would like any further info, or to see inside any of these homes. Also when a home changes hands, the park can increase the space rent by a %. Typically the space rent will be higher the more times a home has change hands.

Erica Nelson
Erica@EricaMNelson.com
408-416-7090
http://www.ConnectRealty.com/EricaNelson
0 votes Thank Flag Link Wed Dec 10, 2008
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