MH and renting - Posted by David Elliott

Posted by CTChap on January 07, 1999 at 10:26:47:


Jim told me to contact you in regards to some questions that I have.

Can you email me with your #?



MH and renting - Posted by David Elliott

Posted by David Elliott on January 05, 1999 at 18:04:34:

I was reading a post by David Alexander and he mentioned something about renting a MH is a lawsuit waiting to handle. Why would it be a lawsuit? Is it illegal to buy MH and rent them out the same way one does a house?



Why would you want to??? - Posted by Dirk Roach

Posted by Dirk Roach on January 06, 1999 at 21:49:16:

For the life of me, I can’t understand why anyone would want to rent out mobile homes.
I know a couple of people who own parks and do rent them. What generally happens, from what I found, is that the rental
parks are simply a repository for older, trashed out mobiles from more upscale parks which they also own.
And they rent them out on a weekly basis, as opposed to a monthly basis. The reason is that when one goes to pot (a rental
agreement) they don’t get stuck as badly, as far as lost rent etc.
I can see where someone in a situation such as that, may see a profit in it. However if you apply the classic Lonnie Method,
you can see a lot more dollar potential. And your not going to be 1: fixing toilets, roofs, and whatnot; 2. not writing checks to
someone to do it.
Anyhow that’s what I have found in my research.
Dirk Roach

Re: MH and renting - Posted by Doris -Va.

Posted by Doris -Va. on January 05, 1999 at 19:25:06:

David - Didn’t read the post you refered to
but in my area there are some small private
parks which are all rentals. Mostly older
units and not the nicest of parks but it is
perfectly legal and must make money because it
has been going on for many years.

In the really nice mobile home communities -
many have prohibited rental in recent years
but if you are selling to a tenant/buyer and
hold the title or are the leinholder on their
title - it is ok to collect monthly payments
(like rent).

Of course - as Lonnie says in his book - if
they don’t pay their lot rent or their
payments to you - you can (OR the park will)
evict them and you can take back the mobile
home and resell it to another buyer.

Hope this helps you. I am a newbie myself and
still studying and learning. Doris - Va.