I am a frequent reader and contributor to numerous Landlord forums and regularly read posts by landlords inquiring about the most basic of issues.
I understand how a mom and pop operation involving renting of a basement may not bother themselves with regulations however I consider the operation of even one MHP a significant business operation.
Not bothering to learn the regulations governing a business before purchasing that business is, in my opinion, a very poor practice.
I equate it to having a driver’s license without having to bother learning the rules of the road.
When confronted with a situation where it is obvious the indivual asking the question has not bothered to self educate I usually simply post a link to the specific regulations so they may make the effort to learn. I believe it is unfair to all tenants that must deal with a landlord that has no interest in knowing the rules regarding dealing with tenant rights.
I am curious as to whether the boot camps and home study courses stress the importance to Park owners of educating themselves on the particular State regulations governing their business?
Yes, the Bootcamp does stress the importance of getting educated and operating well within the bounds of the law. For instance, Frank always advises having an attorney review the leases and park rules and regulations, and to have attorneys process at least the first eviction (or all evictions if State law requires it) to educate us property owners about how to operate legally. Frank has also posted endlessly on this forum about complying with the SAFE Act.
You’d find the Bootcamp very informative and worthwhile if you are serious about becoming a mobile home park owner.
Over the years I have attended more than 10 bootcamps (mobile home park store bootcamps), now I can say at several points attendees were instructed to look into the mobile home park acts of the states they were doing business in, and to consult legal advise in each state they do business in. It was stressed in the presentation, and it was also addressed in the Q & A that was present at every bootcamp. In fact, examples were presented where in differing states, different rules / laws would apply.
Are people taught how to study the laws? Not really. I, for instance, print all of the regulations and I highlight aspects that effect the park operations. I do this in the park act level, city zoning, county zoning, state rules and regs, landlord tenant laws and we are always looking at any changes at the federal level. In some states that have strong mobile home park associations, in Texas for example- we also join those and follow changes in laws.
A great deal of ground is covered in the 3 days of the boot camp, and Frank illustrates everything from his experiences, many which drive home the importance of doing things by the book. In following his recommended due diligence procedure (which is amazingly thorough) you will become expert on all aspects of the MHP business in its local including much of the laws that regulate it. He also recommends joining the local landlord’s association to gain access to their publications detailing the particular legal aspects of being a landlord in your park’s location.
To give you an idea of the thoroughness of the DD procedure, it has you contacting both the local court and attorneys specializing in unlawful detainer cases to find out what exactly what are the costs and procedures for doing an eviction in your park’s jurisdiction. And to find out if you must appear in person or if your manager can stand in for you. I have bought a lot of properties in a lot of different jurisdiction before, but I had never done that before reading D&F’s DD book.
This is good to know as I am a strong believer is fully educating one self on all aspects of the operations of a business especially the regulations governing the business. I studied/researched our Residential Tenancy act and Landlord Tenant Board regulations for 6 months prior to purchasing my first rental property. I have read thousands of past board rulings and attend board hearing to further familiarize myself with the process.
Unfortunately most landlords, MHPs or otherwise, usually just jump into the business without even realizing it is a business and rarely get training such as MHP boot camps. They don’t bother themselves with regulations until they end up facing serious tenant issues.
I have little compassion for them and firmly believe ignorance is no excuse for not following proper procedures.
My hats off to your thorough training program. I wish all investors were mandated to take training prior to purchasing a rental property.