I was wondering as soon as you buy a MHP how do you go about converting mobile home renters into owners?.
Example: A MHP has 20 lots all are 20 Park owned homes all occupied and each paying $500 per month in rent.
Let’s say the lot rent is $250 per month. What would be the first thing you would do after buying the park to convert these renters that are paying $500 per month into owners paying that would just $250 per month instead?. In this example these renters are on month to month leases.
As soon as I buy the park I really don’t want to fix leaky toilets.