Prospectus Potential Issues

mobile home university
1

Hey guys,

We are under contract on our first mobile home park in central Florida. The deal is predicated on being able to raise rents to market , sub-meter as well as improve the overall aesthetics of the community. Our prospectus states that rents can only be raised if there is “increased cost”, has anyone had any experience with a prospectus like this?

2

I am not familiar with the laws in Florida, but a quick Google search reveals a 57 page document summarizing Chapter 723 of the Florida Mobile Home Act, which includes requirements of the prospectus. I would suggest you or your attorney read the pertinent topics of the document.

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