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Or why they have heating and cooling costing you $10,000 per year ($100,000 of lost value to you at a 10% cap rate). We have found that our on- site manager is best placed at home, where there are no utilities for us to can stay home instead of sitting bored in an office, and a cost savings of about $10,000 per year, over the traditional of- fice with manager watching soaps all day. As far as compensation, we bought several parks last year in which the manager was making $80,000 to $100,000 per year. The right number is more like $15,000 to $30,000. That one move would save the community owner around $60,000 per year. For oversight, we require the managers to give us a written report each Friday (via fax) that tells us everything that happened at the property that week.We alsomystery shop themanager weekly, to see if they are answering the phone and what they're saying. We additionally stop by and in- spect the park – unannounced – at least every 90 days or so. That way they never know when they answer the phone or wake up in the morning if they are being shopped or inspected. Keeping them on edge yields better results, and it proba- bly saves us another $10,000 per year in stem- ming corruption by the manager. We also stick with a collections policy we call "no pay/no stay" which means rent payment monthly is not optional. If you don't pay, out you go. Conclusion Managing manufactured home communities is always changing. But there is one thing for sure – the old school way of doing it is no longer the right way – at least, not if you're trying to make money. Managers are a vital tool to maximizing the return on a community, if they are used the right way. But without supervision and correct direction, they can be a giant liability. The choice, as an owner, is yours. THE JOURNAL The Magazine for Manufactured & Modular Housing Professionals T J Frank Rolfe has been a manufactured home community owner for almost two decades, and currently ranks as part of the 28th largest community owner in the United States, with almost 6,000 lots in 17 states in the Great Plains and Midwest. His books and courses on commu- nity acquisitions and management are the top-selling ones in the industry. To learn more about Frank's views on the manufactured home community industry visit www.Mo- bileHomeUniversity.com. journalmfdhousing.com our website Circulation statistics, plus more. tel: 706-655-2333 news@journalmfdhousing.com Econo-Mend to Your Bottomboard Mending Problems Part #EM 4165T The Economical Solution • 4"x165Woven Polyethylene Bottomboard Material • Specially Coated with Acrylic Adhesive to Allow Bonding with Mobile Home Bottomboard • No "Hard To Handle" Release Paper • Not Affected by Temperature or Humidity MB Products& Sales Products for the Manufactured Housing Industry For Nearest Distributor call 336-210-6759 No. 14 on Get It Quick Page No. 15 on Get It Quick Page JUNE 2012 25 THE JOURNAL visit Visit our website. You can view our current issue, download our media package and subscription form, see our Editorial Calendar and