Understanding the key differences between the Mobile Home property types in Invelo
When working with property data in Invelo, it is essential to understand the distinction between different types of mobile and manufactured homes. This article clarifies the classifications and how they are represented within Invelo.
Mobile/Manufactured Homes (Regardless of Land Ownership)
A Mobile/Manufactured Home (Regardless of Land Ownership) refers to a factory-built home that can be located on owned or rented land. These homes are considered personal or real property wherein the owner also owns the land regardless if it's in a mobile home park or not.
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Owned Land: If the owner of the mobile/manufactured home also owns the land it is placed on, the property is classified as a Mobile/Manufactured Home in Invelo.
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Rented Land (Within a Park or Private Lot): Even if the home is located in a mobile home park or on rented land, it remains classified as a Mobile/Manufactured Home. However, the ownership of the land is separate from the ownership of the home itself.
Mobile home or trailer parks
A Mobile home or trailer park refers to properties where multiple mobile homes are placed on rented land. The park owner owns the land and leases spaces to individual mobile/manufactured homeowners or tenants.
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These properties are typically classified as Mobile home or trailer parks within Invelo.
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Residents of mobile home parks typically pay rent for the lot while owning the mobile home itself.
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Some parks may also provide additional amenities or services to tenants.
By understanding these classifications, users can better analyze property data and make informed decisions within Invelo. If you have any further questions, feel free to reach out to our Customer Success team at support@inveloapp.com.