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Posts Tagged ‘jlt & associates’

New Manufactured Home Community Research Data – Site Fees, Occupancy Survey, YoY Changes, 20 Top U.S. Markets

April 30th, 2019 Comments off

 

LotRentSiteFeesManufacturedHomeCommunityMobileHomeParkResearchDataCompJLTAssocMarcusMillichapMHProNews

Before you take out that credit card to pay for similar data to Datacomp-JLT or others, why not look at what this free snapshot provides. It may save you some money.

 

In a release to the Daily Business News on MHProNews, Marcus & Millichap Research Services provided the following snapshot.

The graphic represents their compiled data from a variety of sources.

 

20TopMetrosUSManufacturedHomeCommunityMobileHomeParkLotRentSiteFeesVacancyRatesYoYChangeAveragePadRentMHProNews

As an additional data point, consider this from Sun Communities recent investor presentation.

 

SunCommunitiesIncSUIRentalofManufacturedHomeVsOtherRentalComparisionsFeb2019IRDec312018DataManufacturedHomeCommunityDailyBusinessNewsMHProNews

The data on left is for the rental of a home and the site.

SunCommunitiesIncSUIFactorsPoweringGrowthFeb2019IRDec312018DataManufacturedHomeCommunityDailyBusinessNewsMHProNews

Marcus & Millichap is one of the publicly trade companies tracked in our evening market report. For the latest data on their firm and others from the manufactured home industry from Tuesday evening, click here.

As a disclaimer, the firm said, “The information contained in this report was obtained from sources deemed to be reliable. Every effort was made to obtain accurate and complete information; however, no representation, warranty or guarantee, express or implied may be made as to the accuracy or reliability of the information contained herein. This is not intended to be a forecast of future events and this is not a guaranty regarding a future event. This is not intended to provide specific investment advice and should not be considered as investment advice.”

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That’s this tonight’s manufactured home “Industry News, Tips, and Views Pros Can Use,” © where “We Provide, You Decide.” © ## (News, analysis, and commentary.)

 

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SoheylaKovachDailyBusinessNewsMHProNewsMHLivingNewsSubmitted by Soheyla Kovach to the Daily Business News for MHProNews.com. Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

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DataComp, JLT Associates Announces New Manufactured Home Market Reports

June 7th, 2017 Comments off

DataCompJLTReleaseNewManufacturedHomeCommunitiesMarketReportMobileManufacturedHomeIndustryDailyBusinessNewsMHProNewsDarren Krolewski, Executive Vice President at DataComp/JLT Associates tells MHProNews that they’ve released their most recent market reports.

The 2017 reports cover several states; to see those covered and their release, please click the link here.

About JLT Reports

JLT Market Reports was founded by John Turzer in 1995, and is viewed by many as the industry standard for market and rent survey research in the Manufactured Home Community Industry.

In 2014, JLT & Associates merged its resources with DataComp and MHVillage.

JLT is now headquartered, along with it’s sister operations, at 2600 5 Mile Rd NE, Grand Rapids, MI 49525.

MHVillageDataCompJLTAssoc26005MileRdNGrandRapidsMi49525OfficeManufacturedHousingIndustryReportsNewsMHDailyBusinessNewsMHProNews595

Office location of DataComp, JLT Assoc, and MHVillage, per Google maps, street view. Posted Daily Business News on MHProNews under fair use guidelines.

DataComp/JLT has provided an example of some of their summary data – in the case below, for the 2016 Michigan market, see that sample below.

Sample MI Market Report Findings and Observations

LatestRentSurveyReportJLTDataCompPostedManufacturedHousingIndustryDailyBusinessNewsMHProNews

An example of what a JLT Assoc bound market report looks like, this is available electronically too. Image credits are as shown.

The 2016 sample report for Michigan communities says that occupancy of All Ages Communities shows significant increases for the second consecutive year.

This occurred after an extended period of previous decline. Occupancy rates among Michigan “All Ages” manufactured home communities stabilized in 2014 and began trending upward significantly for the first time in 2015.

That positive trend continued into 2016, as All Ages Communities recorded the highest occupancy rates since 2008, and the largest occupancy increases in recent history.

As regular Daily Business News readers know, much of that has been driven by larger portfolio operations, which are buying rental units.  See a report, shown in the screen capture below and linked here.

Darren Krolewski, Executive Vice President at DataComp/JLT Associates

Credits, MHC-MD.com and the Daily Business News on MHProNews.com.

As of February 2016, the average occupancy rate for Michigan All Ages manufactured home communities was 77%, a 2.7% increase over 2015.

JLT called that “reflective of the strong demand for the affordable housing within the Michigan market. Despite this positive growth, Michigan continues to trend significantly lower than the 86% national average for All Ages communities.”

Occupancy has also increased in Michigan “55+” communities, stated JLT. “As of February 2016, the average occupancy rate is 81%, up 1.3% over February 2015. This represents the largest increase since 2014 and a reversal of a notable occupancy decline experienced among Michigan 55+ communities in 2015. Currently, the national average for 55+ communities is 94%. “

DarrenKrolowskiDataCompJLTAssocMHVillageEVPCreditDataComp.

Darren Krolewski, Executive Vice President at DataComp/JLT Associates, credit, MHVillage.

The teaser summary from Krolewski further stated that “As of February 2016, Michigan ranks 16th for average occupancy in All Ages manufactured home communities out of the 16 regions in which JLT Market Reports are published. Of the 14 regions that include 55+ communities, Michigan ranks 13th for average occupancy among this segment.”

The manufactured home data, listing and analysis firm also said that site fees – a.k.a. “lot rents” – have continued to grow for the 16th consecutive year.

In February 2016, the average adjusted rent in Michigan All Ages communities increased by 1.3% to $387, less than the average annual compounded increase of 2% in this market. The national average adjusted rent for All Ages communities is currently $436,” their summary statement said.

The average adjusted rent among Michigan 55+ communities in February 2016 increased slightly by .3% to $389. In contrast, the national average adjusted rent for 55+ communities is currently $469,” adding that “Michigan manufactured home community rents ranked 11th out of 16 regions tracked by Datacomp for All Ages communities as of February 2016, and 13th out of 14 regions for 55+ communities.”

The detailed JLT reports can come bound, as in the example shown in the photo, and/or electronically. Numerous operators and those doing due diligence and market research have found these reports to be useful and time saving over creating a similar report themselves. For more details on their latest report, see their press release to MHProNews, please click the link here.##

(Image credits, when provided by third parties, are shown under fair use guidelines.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News on MHProNews.com.

 

JLT & Associates Merges with Datacomp and MHVillage

January 3rd, 2014 Comments off

JLT & Associates of Grand Rapids, Michigan is merging with national manufactured home (MH) appraisal firm Datacomp and MHVillage, a major internet marketing website for manufactured homes in land lease communities. Appraising MH since 1987, Datacomp gathers information about home values and features of manufactured housing communities (MHCs), and maintains a database for the Manufactured Housing Institute (MHI) regarding MHC attributes. MHVillage also collects data about the MH it lists for rent and for sale, and the communities and markets in that area. In 2013 the company recorded almost 20 million visits to its website. In an email to MHProNews, John Turzer of JLT says the combining of skills will provide the industry with “accurate, timely research and widely available market intelligence (which) will be critical for our industry to compete, grow, and prosper in the coming years.”

(Photo credit: MHVillage/Ranch Mobile Home Park)

Is Demand for Land Lease Communities Heating Up?

October 15th, 2013 Comments off

Private equity firm Carlyle Group LP has entered the manufactured housing community (MHC) business in acquiring two communities in Florida from Shamrock Holdings LLC of Arizona for $30.8 million. While this is the company’s first foray into the MH industry, analysts say investors are betting this aspect of the housing market will expand as an affordable dwelling for seniors, especially as alternatives become too expensive. Village of Ponce de Leon in Melbourne Beach and Sun Valley Estates in Tarpon Springs, both cater to those 55 and older. As wsj.com reports, communities geared toward retirees were 92 percent full in October, according to research firm JLT & Associates. Occupancy is 89 percent at Sun Valley and 82 percent at Ponce de Leon, MHProNews has learned. As demand rises, prices per homesites rise: Hometown America recently paid $121,000 per site for a community in Arizona, the highest ever paid in the state, according to Evan C. Barry of Marcus & Millichap. UMH Properties’ CEO Sam Landy says he expects to pay $40,000 per homesite this year, an increase from $26,000 just two years ago.

(Photo credit: thinkstock–manufactured housing community)