Re: Discounting space rent when mobile homes are empty...


At pad rents of 225 (which I figure is 22 months / 5000) it is totally worth it. Look at what your park is worth per occupied pad. So you pay out $5,000 in a expense and you add $15,000+ to the value of the park.

I also have a contract for the moving costs that just says the home must remain the the park for XXX number of months or the moving costs are due and payable in full. Make that contract so you can record it as a lien on the home. Then if the home goes bad, and they try to sell it off the park, you can recover the moving costs. You can also use this document to take the home if the tenant goes bad with a ‘title in lieu’ of - option. Make the contract for 36 months if it takes you 2 years to get your money back.