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Leasing a lot

Posted: Sun Dec 09, 2001 6:22 pm
by Walter R. Church
We have never owned a manufactured home (other than a travel trailer) and
are presently considering purchasing a doublewide to put in a gated
community.
We do not know all of the technicalities regarding the leasing of a lot
and what might be a problem if this new area comes into financial
difficulties and we would have to relocate.
Do we have any legal support regarding expenses to relocate, where to go,
etc.
Not having been on leased land before, we are a little concerned
regarding the future of the new company and what this might mean to us.
Do you have any information regarding things that a prospective new owner
should be asking before committing to a lease that seems to be written in
their best interest, not ours?
Anything you might have would be appreciated.
Thank you for being there to at least ask for help.
Sincerely,
Walter R. Church
3 Lyndhurst Drive
Bella Vista, AR 72714
(501)876-5393

Re: Leasing a lot

Posted: Mon Dec 10, 2001 5:42 am
by Ramb37 (old ron)
Regarding leased lot. Typically these lots are leased on a month to month basis only. (Not always, though) There are also lease papers you will sign stating the community rules. These rules can be pretty much what the landlord wants for the park. Including, how you landscape outside, signs in the yard, etc.

Be sure and READ the entire lease agreement. One important item is whether the landlord will let you sell your home yourself, while in the park, or state that they list and sell the home for you.

Visit other tenants in the park before you make any commitments and discuss how they like the park.

What happens to the park, should the current owner sell, die, become incapcitated, etc. is always a concern. In most states, you have no legal support regarding moving expenses, as long as the landlord gives you the required notice. (normally 30 days, it will state time frame in your lease. Check your state web site for state landlord and tenant laws)

Check with the owner about any preparations they have made thru a will, trust, or business structure, about how the ownership of the park is impacted by sale, death, etc.

Be aware that most MH's will depreciate in value when placed on rented or leased land. This is NOT always the case, as in California and the Northeast, they often appreciate in value. Again, visit the park and ask about resale values on the MH's already there.

This is NOT legal advice. Please do your research and depend ONLY on your own decisions, not on this information. This info is from personal experience as we currently live in a park on a leased lot.

Re: Leasing a lot

Posted: Mon Dec 10, 2001 5:48 am
by Ramb37 (old ron)
Some additional things to check out.

1. Trash pick up
2. Water and sewer costs
3. Does landlord provide electrical meter base for power, or do you. Most states require landlord to have meter installations at each lot.
4. Cable TV and Telephone connections and costs. Are these services buried to each lot? You will likely have to pay for cable and phone connections, so it is important to know these services are available.
5. Check for rain water run off on park roads and lots
6. Who provides for snow removal and private road upkeep?
7. Do you mow your own lot or is landscaping services included in lot rent?

Re: Leasing a lot

Posted: Fri Dec 14, 2001 10:34 am
by lgo_arch
I lease a lot in TX, it is a month2month lease, however, law provides extra notice be provided (30+ days) to allow for moving my home/belongings should i need to, also check how often the rent has gone up & by what increments. It costs quite a bit to move your home, so be sure you want to be there awile. Our lot provides a base amount of water & gas in the lot rent, any excess is paid above the rent rate, check to see the situation on these things. One plus...you shouldn't have to pay taxes on the property, just your home & you shouldn't need insurance for property liability (slip-n-fall), the owner of the property needs to be carrying it. One more thing, out lease agreement says anything we plant IN the ground must stay if we leave, it doesn't say that container gardens, etc. need to....

Re: Leasing a lot

Posted: Fri Dec 14, 2001 7:11 pm
by Randy Eaton
HEllo Walter,

Leasing a lot is a poor investment. First of all its called a mobile home park and not a community. A community is a place were people own their property. You're talking about a mobile home park. I would encourage you to look for propery to place your home on. If you can't do it right now then save until you can. There are ten's of thousands of people out there trying to get out of the park trap. Don't fall for it. Merry Christmas.

Randy Eaton