Park Still Struggling After Hurricane Charley
Hurricane Charley hit Florida in 2004, yet the Pink Citrus Mobile Home Park of Ft. Myers is still reeling from its effects. Of 165 lots which at one time were full, the park has only 80 occupied lots today.
The owner, Amnon Dabach, has tried to resurrect the finances of the park through a series of rent raises, which have taken the lot rent from $195 per month to $375. This has resulted in new complications, as many long-time residents are having trouble keeping up with their payments, and have turned to government assistance.
“A lot of people have moved out” said Sheri Dube, a community resident. “Five years ago the rent was $195. Now it’s $375 for no extra services”.
Without sufficient cash flow, the owner has refused to put any additional funds into the park, so the manager can only mow sporadically when she can get the mower to start, and will often take a rowboat out into the once manicured ponds to try and fish out debris.
“There are a lot of things I’d like to see different” said Manager Samantha Dama.
Frank & Dave’s Opinion of This Story:
Whether or not you believe in global warming, you have to acknowledge that the hurricane season is growing stronger every year. This year, there are expected to be seven major hurricanes. If you are looking at buying a coastal park in the hurricane zone, you have to look at the potential downside of a hurricane hitting your park. If you do not have the capital or the constitution to deal with a calamity like that, you should probably not buy a park in a hurricane-prone area. There are many Pink Citrus stories out there. Unlike tornadoes, which are pretty random, hurricanes threaten the exact same areas over and over. And, unlike tornadoes, hurricanes don’t just wipe out a small, manageable area; they wipe out entire cities and employment bases.
Tags: mobile home park and US Recession, mobile home park business, mobile home park business operations, mobile home park vacancies
mobile home park, mobile home park business operations | Frank Rolfe | 
June 11, 2010 2:54 pm
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By Loyal Property, June 12, 2010 @ 6:17 am
Don’t blame the natural disasters for mismanagement. the South Rest Florida market was a house of cards built on construction jobs and today with an over surplus in housing and bank owned properties dominating the market. I thing greed and lack of knowledge is also to blame…