- AMR (Automated Meter Reading): digital utility submeters that wirelessly transmit water or electric consumption data directly to billing software.
- Chattel loan: a personal property loan used to finance a manufactured home independently of the land it sits on.
- Grandfathered (legal non-conforming): a zoning designation allowing an existing property to keep operating legally even where current zoning would prohibit new construction.
- HUD Code: the federal Manufactured Home Construction and Safety Standards enacted in 1976 governing structural integrity, fire safety, and energy efficiency.
- Infill: sourcing, delivering, and setting manufactured homes onto vacant developed pads to reach full occupancy.
- Land-lease model: a framework where the investor owns the land and infrastructure while the tenant owns the dwelling and pays monthly ground rent.
- Lot / pad rent: the monthly ground lease fee paid by a resident to occupy a site and connect to community utilities.
- Master meter: a single utility meter where the park owner is billed for total community consumption rather than individual residents.
- Phase I ESA: an environmental site assessment reviewing historical land use to verify the absence of hazardous contamination.
- POH (park-owned home): a manufactured home owned by the operator and leased to a tenant as a rental unit.
- Submetering: installing individual utility meters at each pad to measure and bill exact resident consumption.
- TOH (tenant-owned home): a home owned by the resident — the lowest-overhead, most stable operational model for park owners.
- Wrap note (wrap-around mortgage): a financing structure where a seller finances a property for a buyer while keeping their existing underlying mortgage intact.
- Zoning Verification Letter (ZVL): an official municipal document confirming a property's legal zoning status and home replacement rights.
Back to the library
Resource · Reference
Comprehensive Master Glossary of Manufactured Housing Terminology
The vocabulary used throughout the library, from AMR meters to zoning verification letters.
Want these delivered in order?
Subscribe to The MHP Capital Digest and receive the full library, edition by edition.