I just closed on a park last week and inherited a lease to own contract. The tenant who signed the contract filed for bankruptcy and hadn’t made a payment to the previous owner in months. They are making their lot rent payments but not the home payment. I don’t believe the previous park owner is pursuing to collect what is owed on the home. I’m considering charging them home rent since they defaulted on their home loan. Or evicting them (if that’s possible), cleaning up the home and then selling the home on a Rent Credit program.
Does anyone have any experience this type of situation? If so, how did you handle it?