Benefits of Florida's Leased Land Manufactured Homes
In Florida Manufactued Home leased land communities you lease/rent the land. The lease is renewable yearly as long as you like to renew. The rent can only go up 7-10% yearly. Normally, if minimum wage or social security goes up $2.00 then your lot rent goes up $2.00. This is governed by the state therefore your lot rent can't just go up more than 10%! Because you are on leased land you do not pay property taxes! You only pay a tangible tax on any add on’s like carports, and Florida rooms, and effective January 29th, 2008 and Florida's passage of Amendment #1, owners of manufactured/mobile homes on leased land can now apply for a tax exemption of $25,000.00 if your home has things like Florida rooms, storage sheds, and carports! This now being in effect will make your tangible tax bill nearly nill. This applies to not just Florida residents, but our Snowbird residents as well! Just one more reason that a leased land home is so beneficial to you! There are also no maintenance, assessment, or home owner fees just lot rent. Maintenance and assessment fees in deeded land communities can be painfully expensive. For instance, in a deeded land community where might own the lot you are also responsible for the maintenance of the community. If the streets need repaved, new street lights, the pool pump goes out, you the unlucky one gets to pay for that! Monthly assessments in a deeded community average $50-$3,000.00 per month if something major needs repaired! Believe me, we’ve been there, done that, “SOLD”, and moved! Do your homework on paper if considering a leased verses deeded community! You will see that you come out way ahead in a leased land community! Maintenance and curb appeal of a leased land community is included in the lot rent as well as all the amenities of the community such as the clubhouses, pools, spas, libraries, billiards, tennis, golf, lakes and whatever else the individual community offers as well as neighbors sharing your ages and interests and everything is maintained and those costs paid by community management! Therefore again, there are no home owner fees or things of that nature. Continuing professional management also assures you of quality throughout the community. Professional onsite management resolves disputes and infractions. Your lot rent pays for you to use the resort-quality amenities! And in many cases the lot rent also includes the cost of your trash, water and sewage bills and sometimes lawn care. If these items are not included they are as follows. Generally electric is about $80 per month. Water is about $30 which includes sewer. Insurance is about $600 per year. Cable is about $40 per month. Lawn Maintenance $25 per month. Trash $15 per month. There are some communities that “The Thompson Team” can take you to that will from time to time offer you a lifetime lease which means you might pay a little more now for instance $400 per month verses $364 but your rent in these communities should you opt for this will never ever increase! There are also a few communities that will offer you a share of the community. If you buy into the share you no longer pay lot rent, you then pay maintenance. Generally, the cost to buy a share is around $30,000 available to you at any time and the maintenance is about $140 per month. There is no difference in canal, lake, or golf course communities other than the price per month for the view. Generally a canal, lakeview, or golf course view will be between $399 and $450 per month. A lot without a water view can be anywhere from $200 to $350 depending on the amenities the community offers. For example, a golf and tennis community is going to be more than a community that does not have golf and tennis! Again, you save big on leased land as you do not pay any property taxes on leased land! A site built home in Florida has a milliage rate of 17% which is a very high tax rate for land. This is why these communities on leased land are so popular especially for snowbirds such as you might be! This is why 9 out of 10 people who purchase a manufactured home in Florida lease their home site! When we look at the homes with you “The Thompson Team” can show and explain this to you and often help you weigh the situation as to whether or not this would be a good thing for you. Another big advantage to you is the community watch program of a gated community. You can literally close the door and leave giving you the peace of mind that your home is being looked after and cared for. The 55+ and all age communities that The Thompson Team will show you pride themselves on this program for people just like yourselves. Don’t forget the hugh advantage that you will not be paying property taxes anymore on your home because you are on leased land! You also save tremendously due to the fact that you are not purchasing land. The two of these, the cost of land and property taxes, as well as the other fees you will save adds up to money in your nest egg and/or savings that is better off held by you or invested than spending in which you need not do. In other words, keep your money in the bank and draw interest or invest! Polk County has the lowest cost of living index than any county in Florida! Thus, another reason why the largest populations of snowbirds reside in Polk County and do seek the leased land arrangement!
“The Thompson Team” is eager to work with you, so feel free to call or email your request for an appointment when you might consider a visit so we can really show you all the in's and out's of leased land communities and the many attributes leased land living will provide to you!