Hello Everyone:
I own a +55 senior park and have a few residents that are moving to a retirement home and need to sell or rent their mobile homes. I have been asked by a few residents if they can rent their homes because it is hard to sell right now in this economy. Is it wise to allow subleasing if the park owner can control who the sub-tenant is? In the case of a sublease, how is everyone else doing it in terms of the park?
In my park residents that are buying a home must be approved before they are allowed to move in. However, should I also do a credit and background check on a sub-tenant as well, even thought they are not the owner of the home? I assume the if the primary resident does not pay the lot rent, I would file for eviction on the primary resident regardless of who was in the home. I would also assume the the primary tenant would need to do their own credit and background checks before they rent their homes.
My choice would be to have ZERO rentals in the park, but with the market for sales being so hard, I just wanted to see if anyone can help me with this issue and what I should be concerned about.
Thanks for the comments and feedback.