Niche Stories

Three Features that Make Manufactured Communities Unique

February 21, 2013
Niche Stories | 2 minute read

While the overall housing sector is just starting to emerge from its long slump, unit sales in manufactured housing communities have grown more than 30 percent since 2009. And even though there are similarities between these properties and other kinds of real estate, there are several differences that owners should consider as they determine their insurance needs. Propel and ProSight have identified some of the major differences between manufactured housing communities and conventional housing developments – and what these differences mean in terms of protection and liability.

Seasonal occupancy patterns. Because manufactured communities are often located in seasonal vacation destinations, it is no surprise that a large number of units sit vacant during the off-season. While the snowbirds are up north, unoccupied homes can become attractive targets for trespassing, vandalism and burglary. By implementing all possible security measures, manufactured housing communities can significantly reduce these risks.

High number of rentals and frequent turnover. Manufactured homes in popular areas can generate steady income for investors. But when there is high occupancy turnover and people are frequently moving in and out, it is natural that there will be an increased risk of  slips and falls during the actual moving process. There may be more instances of damage to individual homes and common areas. Managers should keep detailed records of all routine inspections, maintenance work and completed repairs so your community can defend itself against expensive personal injury lawsuits

Large retiree populations.  Manufactured homes can be purchased at a 10 to 20 percent discount relative to nearby conventional homes. For retirees looking to buy affordable vacation houses, manufactured homes are a great option. But this means it is important for communities to be attentive to safety needs for a variety of age groups.

None of these are sufficient reasons to ignore the many upsides to living, visiting or investing in manufactured housing communities. With a wide range of products available and a team of claims specialists dedicated to manufactured housing, ProSight – in partnership with Propel Insurance – can help you protect your community and help to preserve its long-term value.