MHP Landlord/Tenant Laws in NY

[Michael Ablan]

Hey guys,

I've been running into some hostile residents lately, so I've been brushing up on my knowledge of landlord/tenant law.

I came across the late fee policy from the state.  They say that a landlord may not charge a late fee unless the resident is more than 10 days late on their rent.  They also say that the late fee may not total more than 5% of the monthly rent charge.  

Am I reading this correctly?  I also found out that a resident who owns their own trailer has 90 days from the warrant to find somewhere else to live.  I didn't know this either.  This definitely changes my perspective on threatening troublesome residents with eviction.

Anyone else out there own a park in New York?  Could you confirm/deny my understanding of these rules?  

Thanks in advance!

[Matthew Drouin]

@Michael Ablan that seems about right. That’s why very thorough underwriting on purchasing MHC is very important.

Confirming and verifying bank deposits with the rent roll and aging reports will keep you from being surprised by rampant delinquencies which could take 6 months or more to correct.

I have taken over several parks in Michigan and they had more landlord friendly rules and still took 6-8 months to clean the park up. We were in negative cash flow for much of that. Then we got a bunch of homes back which were abandoned and trashed that we had to spend thousands on just to get into “handyman special” status.

What part of NY is this park in?