Manufactured Housing Community Turnaround
Manufactured Housing Community Turnaround
This case study highlights the operational turnaround of an established manufactured housing community located in a strong workforce housing market. Prior to Trove’s involvement, the community exhibited common challenges associated with aging mobile home parks, including inconsistent rent collections, uneven rule enforcement, limited resident communication, and accumulated deferred maintenance. While the asset was fundamentally well located, unlocking its full potential required stronger on-site leadership and a more disciplined, professional management approach.
Despite its favorable market positioning, the community struggled operationally. Collections lacked consistency and follow-through, resulting in elevated delinquency and outstanding balances. Community standards were applied unevenly, which contributed to safety concerns and resident dissatisfaction. Communication systems were informal and fragmented, and routine maintenance had been deferred over time. These issues constrained revenue growth and undermined long-term stability.
Trove implemented a comprehensive operational stabilization plan focused on collections discipline, safety, and predictable community management. Key initiatives included:
- Installing an experienced on-site manager supported by dedicated maintenance resources
- Rebuilding and standardizing the collections process, including consistent notices, structured follow-up, and required documentation
- Enforcing community standards to improve safety, reduce nuisance activity, and set clear resident expectations
- Executing park-wide cleanup efforts to improve curb appeal and eliminate deferred maintenance
- Standardizing resident communication channels and implementing clear approval and escalation workflows
- Filled all rentable lots while increasing average lot rent from $950 to $1,400, creating a materially stronger and more stable rent roll
- Reduced delinquency from approximately 5 percent to 2 percent and cut outstanding balances by roughly 70 percent through disciplined collections enforcement
- Increased late fee revenue by approximately 40 percent through consistent application of a clearly defined policy
- Implemented utility reimbursement and ancillary fee programs generating approximately $18,000 in additional annual revenue
“Trove brought structure, accountability, and professionalism to our community operations. Their hands-on approach stabilized collections, improved resident standards, and materially strengthened the financial performance of the property.”