Do you use a standard lease form and/or park rules & regulations? I have owned rentals in the past and have real estate experience but this is my first venture into the MHP world. Thanks.
Not sure what you are asking for, but we use the leases that come with the MHU training materials. It’s a solid lease and it works fine for our purposes. I’m also too lazy to come up with my own. If you don’t have access to this, then go to the most professionally run park you can find that is located in the state your park is in and apply to be a resident there. Grab a copy of their lease and rules. Read it, modify it to fit your needs, and change the letterhead at the top. (run it past an attorney if needed) The pro tip might be that a few parks will email you this or have it accessible on their website.
That was how I got started with my first SFH. I applied to be a resident somewhere else that was professionally managed and just took a copy of their lease to use as my own. It was $25 well spent at the time. I’m all about simple and easy as you can probably tell.
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Thanks, Charles. Was that lease in the due diligence manual?
It’s in the resource library. I think there is a link to it in the manual and if not, you can probably email @brandon_reynolds for the link.
You will still need to ensure the “standard/generic leases” are reviewed by your state attorney so you are complying with all laws.
OR you can talk to a larger park nearby and see if you can use their lease/rules. Much more cost effective.