Does anyone have a management contract with their park managers or agents that they could send me. Looking for a broiler plate copy that I can twist to suit my situation. Or do you have a clause inserted in to the rental agreement that protects you against unauthorized actions by your PM or Agent.
This is what I have in my rental agreement, would you take out the management contract part and add some other langauge regarding this?
C)Wrongful Acts of Landlord
Great job Wayne
Is this the small park you talked about last time we met in NC
Hey Rick,
yes it is,
felt I wanted to get my feet wet with a small park before jumping off the boat.
Sorry I missed you last week, I though about you being here on Thursday then with trying to get all this done forgot to even give you call, last week was a blur.
Best thing about this whole deal is, my first LD home came back after 6 months. I had only 4K left in the deal, they left the home in way better condition than when I sold it. Turned around sold the home for all cash for 20K. Took the cash and L/O this park with 12K of it. So from a LD to a small park with an intial investment 7 months ago of 6K.
I will have all my option deposit back in 1 year if I do nothing to the park. Of course I am giving myself 120 days to have it humming and should double the gross income and cut expenses by 76% so while the park is small it should be spinning off some decent cash before year end. Then pop the option and pull out all my cash and hunt down a bigger one, at least 70 pads.
Clarification, the expenses on this park are out of control, park pays all water, all trash. Old owner’s late fee was $7 he said it was ineffective I wonder why. The guy had no business owning a park. Suprisingly the park is very quite and laid back with no people problems. Just a few late payers old owner had no lease agreements and has no security deposits so I do have a few challenges but all seem to be manageble.
Thanks to all on this board who have given inspiration through their postings.
Wayne