What is the best general policy on buying TOH’s from tenants who want or need to sell their home?
Option 1 : If a tenants needs to move, they’re going to put their home up for sale on Facebook, etc. A buyer cold buy it and remove from the park. Therefore I should ALWAYS buy it from them at a discounted price in order to keep it in the park.
Downside: If other tenants discover I paid “John $8k” for his used mobile home, they will also want $8k for theirs. Or they’ll threaten to put them up for sale, knowing the park doesn’t want them sold. Then I’m left holding a handful of empty houses.
Option 2 : Have a strict “We DON’T buy homes" policy. Let the world run its course. If they sell, the buyer may keep it in the park (great), the buyer may move it (oh well) and tenants may realize it’s not worth the hassle of trying to sell their home.
Downside: Turnover will happen, but it will be natural turnover, rather than guaranteed turnover if I start offering money for tenant’s houses.