Re: FEMA mobile home parks and contracts - Posted by John
Posted by John on October 01, 2005 at 07:57:13:
We have an existing park and just signed leases with FEMA for 67 lots. Fema has also taken 9 park owned homes. Not sure that there are usual contract terms. Our deal is an all inclusive lease on the lots - water, sewer, garbage and electric. FEMA to provide propane for heat. Got our fingers crossed that this will work out. FEMA is bringing in 67 14 x 70 new homes 2 bedroom 2baths and 4 to 5 people per home. FEMA to provide all lot improvements and ongoing maintenance of the homes. We are to have screening rights on the new tenants. Property to be left in as good as original condition at the end of the emergency. Initial lease is 6 months with month to month options up to an additional year.
In talking to some Florida park owners, they express that FEMA leases have worked economically but that there have been tenant problems - but that is always the case when large number of individuals move into a relatively small area. Some of the FEMA leases in Florida are now several years old.
For us this represents a major short cut to a fully leased property. We had intended to bring in 30 to 40 park owned units in the next year. Instead we have 67 with an option to buy them at the end of the lease.