Question
How can you get the mobile homes that you own onto a mobile home lot faster and more efficiently?
IF you start buying trailers which I am to produce residual income because they make great investments then you will someday want to put these trailers onto actual lot that you own so YOU don't have to pay lot rent. My question is how? Many of these lots that people want to sell have trailers on them already with people that OWN their own trailers so you can't maximize profit by putting the ones you bought on there. Is there any way that you can make this a faster and smarter process then simply waiting for people to leave your mobile home court and then putting a trailer in it's place that you own?
8 months ago - 1 answers
Best Answer
Chosen by Asker
You need to discover what contractual rights the existing lot tenants have before thinking of purchasing the park (if no contract exists, it's even possible that after 7 years parked in the same place, they may actually have more rights to the land than you do ..) Plainly if the Contract allows Notice or is 'time limited' (has to be renewed annually) or has some clause that permits the rent rate to be reviewed you can terminate their lease (or make it too expensive to stay) .. After some years on the same plot, many tenants forget the terms of their Contract .. enforcing conditions such as 'no pets' (or 'no sub-lets') may be resisted and could give you grounds for eviction ... as could being a day late in paying rent/service charges (on this question you want to check the existing owners accounts .. sometimes the tenants have no money, have not paid for years and can't be evicted) You could also look at what services you are contractually bound to supply and how theses are priced ... Is there anything to stop you conducting random inspections, monthly fire drills (at 2am) or moving your free running rottweilers or loud dawn announcing cockerels on-site .. or even closing the access road to vehicles whilst 'improvements' are made ? In short, your tenants will soon get the message that you are an "obnoxious b*st*rd" and will pack up and leave in droves ..
by Steve B
8 months ago
Asker's Rating: 