Higher than Market Rents

[Frank Larson]

My current monthly space rent here in Southern California is $617.50 a month. Presently my home is on the market. The prospective homeowners are being notified by management that their monthly space rent will be $799.00 per month. I've done an informal rent survey of other mobilehome parks in our zip code. One park of superior location, condition, and services charges only $645.00 for new homeowners. And parks of similiar location, condition, and services typically charge $535.00 to $560.00 per month. My realtor has my home listed for a lower price than similiar homes listed in these other parks, but is failing to generate interest in my home due to the premium charge for the space rent. Is there any obligation on the part of mobilehome management and/or owners to maintain rents at marketable levels? If the high lot rent was at least comparable to other parks, then I could accept it. But the rent here seems obscene when compared to other parks of superior and comparable amenities and location. It's obviousy having a negative impact on the home prices in this particular park. Do I have any options other than giving my home away or abandoning it? Thanks.

[Mark]

Unless there's actually a governing board over rent, probably not much you can do about it. Does the park have any vacancies? Do the nearby parks have any vacancies? With paying park rent, you're kind of dang'd if you do and dang'd if you don't. If there's no vacancies, demand is up and so is rent. If there is vacancies, then expenses are up, income is down so lot rent has to go up!

Mark