Hi,The previous owner had signed a 10 year lease - both on the lot and the note of the house. The note and the park now belong to us. Luckily the lease is only left with 3 more years.The previous owner also used to pay for the water and has an “NA” under the water sub-meter agreement. Since we want to sub-meter the water and increase the lot rent, are we bound by this agreement? Is there any way to ask the tenant to pay for the water usage or increase lot rent?Luckily, this only happened with one tenant.Thank you.
Insane what some MHP owners do! I had a seller do the exact same thing on a park I bought last year (just a 1-year lease though). The previous owner actually thought they were doing me a favor. Oh, by the way, did I mention they did not run a background check on the tenant or take a security deposit, and that he stopped paying his rent in 7 months or so and then disappeared in the middle of the night?OK, I’m down off my soap box now.No, I don’t think there is much you can do in your situation but wait the 3 years. It was clearly the intention of that lease that the owner pays the water for the tenant.But perhaps there is something you can offer the tenant in exchange for agreeing to start paying for water? Perhaps you can extend the 3 year term on his/her house and reduce the monthly payments? Or give something else of value…? Otherwise, 36 months really isn’t ‘forever’ - and it’s just for 1 tenant.Good luck,-jl-
Hi,To conclude this discussion. We did contact an attorney and the result was to just continue on the lease as there is no way to get out of it. The only way would be if the owner stops paying for the note or the lot rent. Thank you.