Posted by hkCA on May 09, 1999 at 14:49:00:
Enjoy your posts about mobiles. Guess you’ve become the resident MH expert on the board, no doubt about it. Here’s a thought I’d like your feedback on, if you would.
As the owner of a home in a park, suppose you were to approach the PM and tell him with his permission you will be paying the lot rent personally, even after you sell the home, as long as that buyer is the owner. (Maybe you could even retain a 1% interest in the home if necessary). You sublease the land and collect the rent as well as the loan payment from the buyer. Your rental agreement with the buyer is under the same terms as the park’s terms. So a violation of park terms would also be a violation of your terms with the buyer.
The advantages I see in this agreement are such:
The PM knows you and feels more comfortable with dealing directly with you and is more assured the rent will be paid.
You are assured the lot rent is paid. If it isn’t, then you can act promptly, rather than finding out you’re on the hook for several months back rent later on.
Since I don’t know enough about mobiles, I don’t know if there are real advantages to this, whether it’s even legal, allowable, or whether the disadvantages outweigh the advantages. But your feedback would be appreciated.