Today’s park homes are worlds apart from the images of flimsy ‘mobile homes’ conjured up from decades gone by. Both inside and outside, it’s hard not to be impressed by their quality, and how much they feel like a home. It’s clear as to why there’s growing popularity of the park home lifestyle, particularly with the over-55s.
Although park homes are usually more affordable to buy and run than traditional brick-and-mortar houses, buying outright isn’t an option for everyone. That raises the question: can you rent a park home? In this article, we’ll look at the fundamentals behind park home ownership and whether renting them is an option.
Straight To The Point: Can Park Homes Be Rented Out?
In principle, park homes can be rented out, but it needs to be considered within the context of where the park home is situated. Holiday licensed parks commonly allow for homes bought on their parks to be rented, whereas residential parks such as Parklands of Lincoln prohibit renting under the Mobile Homes Act 1983 Written Statement. The distinction between the two different licences reflects the different cultures and purpose for the different style of park home development.
Why Residential Park Homes Can’t Be Rented Out
Under the Mobile Homes Act 1983 Written Statement that applies to residential licenced parks, it states that ‘the mobile home must not be hired and accommodation must not be rented to paying guests’. This clause helps foster a dedicated community of permanent residents as the licence permits park home use as a primary and main address.
Holiday parks by their nature have a much more transient culture as people come and go for their holiday which lends itself much more to the prospect of letting a park home out. The culture that makes up a residential park home development is difficult to overestimate and is (in our opinion) distinctly different to that which you may find on a regular street.
Benefits of Buying A Park Home Outright
One of the main benefits of buying a park home is affordability. They’re generally cheaper than most brick-and-mortar houses, making them a good option if purchasing a property outright is a challenge. At Parklands, new homes can be built from around £190,000, with pre-owned options available at lower prices.
In the long term, park homes can save you money on running costs thanks to their low-maintenance and space-efficient design. If you’re downsizing, they can also free up capital from the sale of your current home. Less upkeep means more time, giving you the freedom to do more of what you truly enjoy.
Others Methods for Buying A Residential Park Home
If buying outright still isn’t an option, but you’re sold on the vision of the park home lifestyle, finance is always an option. Most high street lenders will not provide you with a mortgage, but there are loans you can get from specialists to help cover the cost.
We recommend doing your own research into this and getting multiple quotes to find the best option. Consulting with a finance broker is wise.
Visit Parklands of Lincoln
Exploring options for buying a park home and searching for the perfect development? We warmly invite you to visit Parklands of Lincoln. Located in the peaceful village of Waddington, just a few miles from Lincoln, our well-established community offers a welcoming atmosphere with all the amenities you’ll need close by.
Protected by the Mobile Homes Act 1983, Parklands provides a stable, friendly environment without concerns about short-term rental disruptions.
To learn more about our homes for sale, contact us today. Open every Wednesday for visits, come and explore our latest show home – many visitors are often pleasantly surprised!
