Case Studies
Home Renovations & Infill
There are two ways we improve the home supply in our communities. First, as many of our residents' homes are from the 1970's and 1980's, we work with new and current residents to renovate their homes. Second, many of the communities we acquire have significant lot vacancy. Bringing in new and used homes to fill these lots is a great opportunity to increase long-term revenues. However, delivering a home is a complex process. Our in-house Homes team carefully manages this process to match the housing demand across all Saratoga communities.
Greenville
We bought our first mobile home community in Greenville, South Carolina in 2020 and have since built a large portolio there. These communities were filled with 1970's homes and were in sore need of repair. We sold a few of these homes to a man who flipped the homes and then sold them to family and friends. He showed others his process and slowly these communities were transformed. To date, 63 residents have moved into these communities through this process. These are now beautiful homes and we estimate that this resident-led renovation effort has added $4.9 million to the value of the properties.
Parkside Manor
Parkside Manor is a community with 312 lots. At acquisition there were 123 vacant lots so there was a significant infill need. Since then over 35 homes have been ordered, delivered, and set. Core to this success was finding the right on-site community management team. Our on-site teams manage everything from community maintenance to rent collection. This community required significant sales efforts to match the infill pace. Once a strong sales team was in place, we were able to fill these homes quickly and the community has nearly doubled its rental income since acquisition.
Westwood
Westwood was acquired in January, 2020 and is located in Greenville, North Carolina. It is a large community with 273 units and like Parkside Manor, had significant infill need. At acquisition only 94 of the lots had homes on them. Due to this need, Westwood has had more new home infill than any other Saratoga Group community. In the first 4 years over 49 homes were ordered, delivered and set. Through marketing and resident referrals, we have been able to fill these homes with quality residents.