My state requires 12 month contracts be offered and IF the tenant did not sign a waiver with the previous owner (required by state) they automatically have a 12 month contract regardless of their belief they are on a month-to-month. What is my best approach? Try to hustle them into signing new contracts immediately? If so, can someone give me an example of a viable approach to get tenants to sign off? I’m going to be raising rents 100 bucks to market.
We’d not try and ‘hustle’ anyone. Join your states’ MHA and follow all the rules.The ‘12-month clock’ started ticking when your residents moved-in, not when you purchased the park. Accordingly, give them the requisite 30-days notice of a rent increase. Certainly offer them a 12-month lease at your +$100/month pricing if they want it.But assuming your park is mostly ROH, then nearly all your tenants have been there almost certainly more than a year since move-in, in which case, they are now month-to-month and you can raise rents to market.Good luck,-jl-