Finding the Right Mobile Home Parks for Sale

Finding the Right Mobile Home Parks for Sale

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Finding the Right Mobile Home Parks for Sale
In many mobile home parks, the owners of the home simply rent the property where their home is located. Although many mobile home owners have the option to purchase the property, it is sometimes more cost effective, at least in the immediate future, to rent the property. Mobile home parks for sale often include the purchase of the leases of those homeowners that reside in the mobile home park.

 

Depending on state law, those that wish to purchase mobile home parks for sale will likely be required to honor any leases or rental agreements which exist at the time of purchase. That means that those that own a home in the park, but rent the property, can be sure that the rent will not be immediately increased and that their previous tenant rights will remain. However, upon lease expiration, the new owner may change the rules and regulations, unless there is a homeowners association which was in place previous to the purchase.

 

Once a mobile home park has been purchased by a new owner, park homes for sale may not include the rights which previously existed with that home. Although the new owner must honor previous leases and contracts, they may not have to grant those rights to those that purchase park homes for sale.

 

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