Mobile Home Park Evictions | What Happens When Rent Stops?
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Mobile Home Park Evictions! What happens when a tenant in your mobile home park stops paying rent? They own the home but they rent the lot so is it an eviction or is it a foreclosure? Do they move the home out? What if they can’t? All these questions come up with this hybrid property type. We are going to give you the good, bad, and ugly of what mobile home park landlords need to know about this process.
The concern about non-payment and a trailer park going empty is one of the concerns both investors and lenders who are considering the space get hung up on. We walk you through everything you and your bank need to know to make a decision on whether the risk is worth the returns.
I start out going through the difference between an eviction and a repossession.
We walk through the general flow of an eviction and some of the negatives and benefits to the mhp landlords compared to apartments and other property types.
I then give you a BONUS tip on how to help the tenant avoid eviction all together and ways you can reduce evictions and risk in your property.
This is a must watch for all future mobile home park investors and lenders.
Post in the comments below questions you have about the eviction process.