Module 1: Mobile Home Park Industry, Facility Characteristics &
Financial Operation
1. Demonstrate familiarity with mobile
home park configuration and primary functions.
2. Distinguish the key elements of mobile home park characteristics
that differentiate mobile home parks and contribute to quality and value.
3. Distinguish factors which influence the mobile home park
market.
4. Examine the revenue sources and expense line items specific to
mobile home park appraisals.
Module 2: Sales Comparison Approach for Mobile Home
Parks
1. To examine when to apply sales comparison approach
to a mobile home park appraisal
2. To apply appropriate guidelines for inspection and sale comparable
selection for mobile home parks.
3. To property evaluate transactional, property adjustments and
economic characteristics in the sales comparison approach for mobile home
parks.
4. To apply the methodology of the sales comparison approach to mobile
home parks.
Module 3: Income Approach – Direct Capitalization for Mobile Home
Parks
1. Distinguish how and when to use direct
capitalization for valuation of a mobile home park facility.
2. Examine and apply the key factors in estimating the overall
capitalization rate for a mobile home park facility.
3. Analyze income and operating expenses found in mobile home park
facilities.
4. To use appropriate guidelines for rent comparable selection for
mobile home parks.
5. Analyze and compare the strengths and weaknesses of various methods
of estimating overall rates for mobile home parks.
Module 4: Income Approach – Discounted Cash Flow Analysis for
Mobile Home Parks & Cost Approach
1. Distinguish when
present value of rent loss or discounted cash flow analysis is the appropriate
method for the income approach for a mobile home park.
2. Examine the comparative strengths and weaknesses of present value
of rent loss method vs. discounted cash flow analysis for a mobile home
park.
3. Analyze how income and fixed, variable and partially variable
expenses are built into a discounted cash analyses for a mobile home park.
4. Demonstrate proper application of present value of rent loss
analysis in the valuation of mobile home parks.
5. Demonstrate proper application of discounted cash flow analysis in
the valuation of mobile home parks.