I have an abandoned single wide that has been sitting empty for months and I have received no rent. The bank tells me the homeowner is current on payments and that I should cut my losses and let the HO move the home by discounting the back lot rent owed. It sits at the far end at my end property line and has taken on some vandalism since this part of the property has no fence. Any thoughts on how to resolve?
Been there. You can make a fast nickel and discount the rent and get it out of there or you can make a slow dime and sit on it. If the home is a eye sore, I do what I can to get it out of there. If the home is not hurting your income ( you have other available lots for rent) wait it out. Send certified letter to lien holder that rent is past due. The lien holder may strong arm the owner into taking care of the past due lot rent. In any case you need documentation to hold the home for rent due. This may not work for you but thats what I can do in my area.
-
Immediately file eviction on the homeowner for not paying the lot rent (using the correct methodology of demand notices, etc.)
-
Once you have the eviction and the home is still vacant, file a possessory lien notice with the bank. That gives them 10 days to pull it or start paying lot rent.
-
See if you can buy it from the bank at a low price, now that they have the pressure of paying you lot rent every month.
One more note, once you have given the possessory lien notice, you have a mechanics lien on the home and it cannot be moved until you are paid. If they move it, you can technically have them arrested. But check your state’s law to confirm this.