Around here, people like to buy and remove them (maybe a shortage?).
New replacements seem expensive.
Alot of poachers on FB looking to prey on residents buying and flipping to another Park. Because we all could use a few homes. Have to really be on defense and try and buy them before they do. Not always at a decent price to resale either.
Ok, so buy them if you hear a tenant in your park is selling one. Got it.
Do you also buy and sell new homes to fill lots?
Make it a regulation in your community, and have current tenants sign, that if they sell to any buyer must be approved by management first. If not current tenant will still be liable for the lease payments and will face eviction. Also, buyer will not receive new lease. Leaving buyer to then go after the tenant that sold the home.
Make this established in the community. After one instance of violation and eviction/lease non renewal, the problem will fix itself.
I canât speak for the 49 other states in our great country but in the very blue State my parks reside in you have to be very careful with this type of lease language. As park owners we cannot âinterfereâ with the sale of a home in any way lest you get sued. Also as long as the resident complies with notice and has all the required permits to move the home they are free to move their âpersonal propertyâ as they wish. We all have leases which are time bound land lease agreements for both the tenant and landlord for occupancy of the land. By the legal definition of a lease those are time bound agreements that expire without renewal by both parties hence and is personal property is allowed to relocate.
It is awful when homes leave the park. Best option is to buy the home direct and either rent it or resell it under contract at a better price. It will be an expense but you will keep the home on site with a paying tenant. I have had to do this a few times- just a cost of doing business and keeping your park full.
You can put a notification FB marketplace, Craigslist, and Zillow for alerts.
You can also add a clause to your lease that the tenants must give a 30-day notice before they list their home for sale.
Right of First refusal clauses have also been used over the years, but they are more commonly becoming illegal. Check your state laws.
To prevent mobile homes from leaving your park, require tenants to give a 30-day notice before selling and consider offering to buy the homes directly to keep them on-site. Use alerts on platforms like Facebook Marketplace and Zillow to monitor listings. While Right of First Refusal clauses can help, ensure theyâre legal in your state. Buying homes may involve a cost, but it helps maintain occupancy and revenue
Also, if you are selling the homes letâs say for example you want to sell it for $25k and your rent is $300/month. Calculate 36 months at $300 = $10,800. Add that to the $25k which = $35,800. Just have your sales contract stipulate that you are selling the home at a discounted rate of $25k if the home remains in the park for 36 months. If the home is moved from the park before 36 months then the owners must pay the pro-rated difference. Just make it very transparent and in writing in your sales contract and you should be good-to-go. Once most move in and have been there for 1,2 or 3 years they are usually hooked if they like your community. Just make sure you have your non-discounted amount near to the price of a newer/new one and if they pay-and-pull you just end up with a nicer home.
Of course speak to a quality MHC atty, but it may help if you pay for that right of first refusal. The atty can tell you what might be effective. Maybe as little a ls a month of rent abated or some small payment. In any case the buyer has to spend several $1,000âs of dollar to remove it, then move it, then reset it. Is you ought to be able to pay a few $1,000 below any alleged fmv.
just put out a notice that says if youre interested in selling ur mobile home we will buy itâŠa few times per year and you avoid attorneys and bs.
Unless youâre evicting someone and out of spite they sell it to a poacher on FB. [for much more than its worth]
One way to discourage residents from moving homes out of your park is to create incentives for them to stay. This could include offering competitive lot rent, ensuring the park remains well-maintained and desirable, and providing financing or incentives for on-site home sales.
Additionally, having a first-right-of-refusal clause in lease agreements allows you to purchase homes before they are sold to an outside buyer who may relocate them. If outside buyers are actively targeting your residents, staying proactive by maintaining relationships with tenants and making fair purchase offers can help retain homes in the community.
Honestly I never had this issue at any of my parks but my lot rents were always competitive.
Not if the other park owner is paying for that move.
Our situation is a bit different. Its the tenant selling the home to someone else who moves it. We do use a removal penalty currently, but doesnât stop them from selling to someone else.
Competitive lot rents dont matter in some places because people take the homes and put them on empty land which they own, or are selling (e.g. developers). Really.
Are you lending to new buyers then, or third party? We donât lend. Not our model. 3rd party can be difficult to qualify for
Some people, maybe most, wont care about first right of refusal, and then if they break the rule you have to hire the attorney and then its squeezing blood from a turnip. Itâs nice, but no teeth. What is your experience?
we advertise it 2 ways all cash, which is about 25% of our tenants or we rent to own it to the tenant- makes for easier eviction .
If your selling a home within your park, can you legally put a lien on the title for the contractural timeline it must be kept in the park?