Posted by Dirk Roach on January 27, 2000 at 21:01:03:
Repoing a mobile home will depend on where you are at. I would check with my local county clerk, etc. to get the details.
However often times, a “super-table” discussion can do the trick. Basically you sit down with these folks and figure out what the problem is, namely why they are having a hard time paying. If this problem cannot be solved, then do them a favor.
You of course don’t want to hurt anyone’s credit and give someone a deadbeat tenant label. So do them a favor and buy them out. Usually moving costs will do the trick, and of course you are going to forgive the outstanding note.
Just talking to folks can 9 times out of 10 solve the problem.
Techniquilly whomever has signed a space rental agreement is responsible for the space rent. However the park is going to come to you for their outstanding space rent. You don’t pay, then they will simply want you to move the mobile out of the park, so that they can get that space filled by someone who pays.
See that is what the park cares about. They want they’re space rent. That is how they make their money.
I like this question, because it illustrates why it is very important to keep in contact with your PM’s. Not only does it solify your relationship, it will put you there first for potential deals, and you will know straight away if someone has began to fall behind. Once someone is three months behind IS NOT when you want to be hearing about it.
Good luck and I hope this helps,