Hi, please I need your advice again. I am in the process of making a final offer in a park that has many violations including loose big dogs, dead cars with no tags, inappropriate cutting of large oak trees. Is it appropriate for me to create a set of rules during the due diligence and discuss with current tenants that these must be unforced otherwise they will be evicted? Would you discuss this during DD or wait until I have purchased the park? Also shall I involve the attorney in drafting these letters? Thank you so much
You would introduce your new rules after you take ownership. Study your state landlord tenant regulations, they are the bible for your business practices, and determine how much notice , if any, is required for rule changes.
Remember any rule you implement must be enforced to the letter. If you are inconsistent in enforcing community rules thy will become null and void. If you do not intend to do so then do not put them in your rules.
If you are not prepared to evict there is no point in having rules at all.
If you search on line you should be able to find examples of other community owners rules.
Do it after you close, and yes you should have your attorney review the rules to confirm they do not conflict with state or local laws. Also get comfort with the process of introducing the new rules - whether you can do it across the board or as resident’s leases are up for renewal…
How did this go? Did you end up purchasing?
Basically what everyone said here is true. As Greg mentioned, you must enforce the rules to the letter. People who live at these parks gossip like you wouldn’t believe. If you let one persons actions slip, everyone will know and you will lose control very quickly. When I bought my first park, I followed the advice of people on these forums and sent out a list of rules immediately and I haven’t had too many issues at all to deal with.