Lender Stipulations to move in home

mobile home university
1

Hi all,

My question is in regards to a prospective tenant attempting to move in a mobile home to our park. Their financing company has a list of stipulations that they want the lessor to sign and return, and some of them are unfavorable to the park. These are as follow:
1). Community management/lessor will waive all rent until CSL Financial identifies the home as a
repossession.

2). In the event community occupancy falls below 95%, community management/lessor will
continue to waive site rent until the home is resold or removed from the community.

3). Community management/lessor will not require the home to be removed from the community.

Has anyone encountered lenders that follow these practices? If so, how did you deal with a situation like this? Obviously filling the space is a top priority, but some of these terms seem dubious at best and a likely pitfall down the road.

Thanks,
Adam

2

I’d probably tell that prospective tenant to get a new lender or a new place to live. I wouldn’t want their lender telling me how to run my business.

3

I have found (2 times out of 2) that these are typically aspirational, and the lender will back down if you don’t sign. Don’t make it your problem.

Brandon@Sandell

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