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Updated over 4 years ago,
Problems moving Park Owned Homes to Tenants
I'm in the midst of turning a park around that was in terrible condition upon purchase. We have spent tens of thousands fixing the homes and are now in the stage of moving the Park Owned Homes to the tenants. Some of the tenants are not wanting to own the homes. I believe they like the idea of the property manager basically being on call. Does anyone see an issue if I give them the option of another $50 increase on rent or them take ownership of the home with lot rent only? For example, current rent is $400. The offer would be that I increase the rent to $450 or them take ownership and the lot rent be $300. I do have my Dealer/Seller license so that isn't an issue. I just want to gift the homes because many of them are 70's and 80's models. Thoughts?