The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Craig Gerald Kucera - B. Riley Securities, Inc., Research Division - Analyst
: Sam, you mentioned some inflation in manufactured housing costs. How meaningful has that been over the last quarter or so?
Question: Craig Gerald Kucera - B. Riley Securities, Inc., Research Division - Analyst
: Got it. And does that change the calculus of putting in a rental home? Or are you able to pass through those? Or do you anticipate being able to
pass through those rising costs to your renters and/or buyers?
Question: Craig Gerald Kucera - B. Riley Securities, Inc., Research Division - Analyst
: Got it. I think last quarter you mentioned you had a couple of stabilized communities under contract in the Northeast, I think, for maybe around
$13 million. Are you still likely to move forward with those maybe in the first half of this year?
Question: Craig Gerald Kucera - B. Riley Securities, Inc., Research Division - Analyst
: Got it. And just given the improvement in your cost of capital, are you starting to maybe consider some stabilized assets that perhaps a year or so
ago you would have passed on because they just didn't pencil out? Or are you still primarily looking for more of your deep-value communities
where you've got 40%, 50%, 60% occupancy and clean them up and making money that way?
Question: Craig Gerald Kucera - B. Riley Securities, Inc., Research Division - Analyst
: Got it. And you touched on your operating expenses expectations for this year, and I know they were down year-over-year this quarter and flat for
the year. But I'd be curious, are there still opportunities on the submetering front to reduce your utility costs? Or are those more or less behind
you?
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MARCH 11, 2021 / 3:00PM, UMH.N - Q4 2020 UMH Properties Inc Earnings Call
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