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2006 Southeast MHCommunity Rent Surveys
Tue 01/17/06 08:07:21 am
JLT and Associates

The following is a summary of our January 2006 Southeast Region Manufactured Home Community rent surveys.  Occupancy numbers DO NOT INCLUDE repossessed homes as reported by the on-site personnel.  We listed the number of repossessed homes reported by each community in the community profile section of our reports.  In the summaries presented below, we include the number of repossessed homes in each market for the past two years.  Please feel free to share this information with your staff and associates.  As always, just call us at 808-283-3380 with any questions.

Surveys can be ordered by calling 808-283-3380, sending a email to [email protected] or visiting our website www.jlt-associates.com where you can download reports using your VISA or Mastercard!  

 

MANUFACTURED HOME COMMUNITY RENT SURVEYS SUMMARY

SOUTHEAST REGION – JANUARY 2006 

CHARLOTTE 

The Charlotte survey includes 16 “all ages” communities with 3,229 homesites.  The January 2006 occupancy is 71%, an increase of 4% over January 2005.  Repossessed homes declined.  The January 2006 occupancy rate does not include 46 repossessed homes (up from 41 at January 2005) reported by the communities. 

The survey includes 1 “55+” community with 191 homesites.  The January 2006 occupancy rate is 94%, down 2.2% over January 2005.

The average adjusted monthly rent (rent after deducting services) in the  “all ages” communities is $216, an increase of $13  (6.4%) over January 2005.  Many communities include some service(s) such as water, sewer, trash removal, lawn mowing and/or cable TV in the monthly rent.

 The average adjusted monthly rent (rent after deducting services) in the “55+” community is $217, the same as January 2005. 

Eleven (11) communities (69%) implemented a rent increase during the past year. 

Only 1 community 6%) reported occupancies of 95% or higher. 

RALEIGH 

The Raleigh survey includes 14 “all ages” communities with 2,929 homesites.  The January 2006 occupancy rate is 80%, an increase of 4.3% over January 2005.  Repossessed homes declined.  The January 2006 occupancy rate does not include 30 repossessed homes (down from 39 at January 2005) reported by the communities.  Deerhurst was added to the survey this year. 

The average adjusted monthly rent (rent after deducting services) in the “all ages” communities is $306, an increase of $6 (2%) over January 2005.  Many communities include some service(s) such as water, sewer, trash removal, lawn mowing and/or cable TV in the monthly rent. 

Only eight (8) communities (57%) implemented a rent increase during the past year. 

Four (4) communities reported occupancies of 95% or higher.

**********************************

John Turzer is the President of JLT & Associates, a full service real estate market research company specializing in the manufactured housing industry.  The company conducts pre-acquisition and new community development market research, due diligence, a one-day sales training program and client specific consulting projects.   JLT & Associates also prepares and markets manufactured home community rent surveys for 60 markets nationwide including Albuquerque, Atlanta, Las Vegas, Greater Phoenix, Tucson, Salt Lake City, Kansas City, Minneapolis/St. Paul, Raleigh, Charlotte and major markets in Florida, Texas, Michigan, Colorado, Indiana and Ohio.  He can be reach at (808) 283-3380, (808) 659-5517 (fax) or by email at [email protected].  Website: www.jlt-associates.com


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