Two industry executives share their experiences in acquiring and managing value-add properties without overburdening the residents.

The manufactured housing sector has proven to be one of the most stable asset types since the onset of the pandemic. As the housing affordability crisis continues to deepen, manufactured homes are seen more and more as a practical alternative. Despite record-high unemployment nationwide, the sector recorded occupancy rates of 93.3 percent in the third quarter of 2020, according to a NorthMarq report. This stability, coupled with a severe lack of new supply, has garnered the attention of individual investors and REITs alike.    


While negative perceptions of mobile homes being rundown and unsafe have softened substantially since the introduction of the HUD code in 1976, most communities previously managed by a mom-and-pop operation do require improvements for the tenants’ safety. Luke DeGrossi, Co-Founder & CAO at Pioneer Communities, and Matthew Davies, Founder of Harmony Communities, talked to Multi-Housing News about their experiences of acquiring and operating manufacturing housing communities. The pair share best practices for implementing much-needed improvements at value-add properties without financially overburdening the residents.