New MHP - Previous owner did not require deposits

[Jordan M.]

Hi everyone. I just closed on a 23 unit mobile home park, almost all lot rentals. The previous owner did not require deposits. I'm trying to decide if I should require all tenants to provide a deposit equal to one month lot rent. I'm already giving them increase letters ($45 increase) on July 1st, effective August 1st. What I don't want is some mass exodus from the park as a result of rent increases and deposits. Keep in mind, this is very low income housing. I would give them 30-60 days to come up with the deposit. Thoughts?