Havenpark raises rents on newly acquired West Branch and Iowa City mobile home parks
Hunter
4/23/19
Residents of West Branch Village and Sunrise Mobile Homes have received notice that they too will see their lot rents increase after their properties were purchased by a Utah concern.
Havenpark Captial notified residents that West Branch’s base rent will go up from $310 to $385, while residents of Sunrise are seeing their rent go from $355 to $425. Additional fees will be charged for having a double-wide trailer and having their trailers on a corner lot; it’s unclear if residents with a double-wide on a corner lot will be charged the $25 “premium fee” twice or just once.
The rent increases go into effect on July 1. They are considerably less percentage wise than the trailer rents at Golfview in North Liberty, the first property Havenpark purchased in the area. Their lot rent increases, originally slated for June 1st but moved back to July 1, will jump from $285 to $450 a month.
The previous owner of the two parks, Hames Homes, said they would’ve had to raise rents by about $100 per month to pay for upgrades to the wastewater treatment facilities at both locations. Havenpark has already announced a $2 million investment in Golfview and over $1 million at a mobile home park in Waukee, Iowa. They have not announced their plans to upgrade West Branch Village or Sunrise at this time.