Block of trailers owned by an outside company

[Nolan O.]

I'm looking to offer on a park that has solid numbers, upside potential and appears to be in very good shape. The big hair on it is that the rent roll shows an outside company own about half the trailers. I asked the seller about it, and he said that the company pays lot rent and then rents out the trailers to tenants of their own. Obviously, the thought of the outside company moving all its trailers out is a bit disconcerting, though I realize it would take a pretty penny to do so. (We're talking 18 trailers.) But what else do I need to be thinking about in considering if this risk is acceptable (for any price)?