New MHP purchase


#1

Put a MHP under contract and had a few questions:

  1. We plan on raising rent by $10 upon taking ownership of a MHP in GA. Is it a good idea to do it right at the outset? Also, can you raise rents if they have a lease in effect?

  2. Contract said “all security deposits referenced in any leases shall transfer”. What if any deposits were taken cash? We think we are covered by requesting estopel letters from all tenants without leases. Is that enough to cover us? We do not want to end up paying for fanthom security deposits down the line or be surprised.

Thank you.