Recent Mobile Home Park Aquisition

[Matt Slakey]

Hi All,

I just purchased a 29-unit mobile home park in Arizona. There are no leases from the previous owners. Most of the tenants seem agreeable but there will be at least one tenant who won't sign the new lease and probably won't pay rent. (They haven't paid since October.) Does anyone have any experience with a situation like this?

Thanks in advance,

Matt

[Chris Ebert]

@Matt Slakey, it's very simple - you evict that person. 

[Serge S.]

Hey @Matt Slakey where in AZ did you purchase and how is going so far? I got one in AZ under contract and have been trying to get up to speed. MH tenant law is different from houses or apartments in AZ check out https://www.azlawhelp.org/articles_info.cfm?mc=3&sc=72&articleid=380

Generally you should be able to evict but there are some hoops you will have to jump through. Good luck.

[Matt Slakey]

Thanks guys! @Serge S., thanks for the info. It's in Tucson. Where is yours? 

It's going well so far. There has been a lot to do to stay on top of issues. I haven't evicted those people yet. I've got a to do list that is ...extensive. Top priority is long-term financing. The park seems to be below the threshold of most lenders requirements by both units (50) and loan amount (1M). Who are you using for financing (if anyone)?

[Jack Martin]

@Matt Slakey as a mobile home park owner/operator in Arizona, I have several contacts that would be of value to you. My partner is on the board of the MHCA here and has some powerful resources as well.  Feel free to PM me and I would be happy to share.