Long term leasing?

[Cindy]

I would like to find out about long term leasing for lot rentals. Does anyone have a lease they use they can share with me? Does it include an escalation clause? Any expieriences anyone can share with me regarding a long term lease for residents? Maybe a 5 year lease? Of course I would like it to not only protect my business, but protect my residents!

Thanks! I am so glad this blog section was pointed out to me!

[Chrissy Jackson]

Be careful of leases shared by anyone with you. Most leases are state-specific, or have at least some state specific language in them. Every long term lease has an escalator clause, and normally offers not a fixed amount of increase for future years, but various methods by which a rate increase would be computed. My first suggestion would be to go to your state association and see if they have a generic long-term lease you could review. Thanks!