A few POH tenants approached us to buy the POHs they rent from us, in anticipation of tax refunds. They cannot do a cash buyout, and look for some rent-to-own program. Once they sign a “rent-to-own” contract, is the landlord still responsible for repair and maintenance of that POH? Or is tenant supposed to take over that responsibility when they sign the contract?
For landlord, the advantage to sell POHs is to avoid R&M burden, but that advantage seems to be diminished if landlord will do the same R&M work on POHs on rent-to-own program for a long period of time (possibly 18-24 months), while loose the significant home rent (which, in my park, is about 3x lot rent) forever. With these thoughts in mind, the idea of selling POHs (especially on rent-to-own program if landlord does R&M work until tenants pay off) is not that attractive. Do I miss something here?