You may have heard about it in an email, phone call, or directly from your park manager: your mobile home park has been sold.
Understandably, you may have many questions about what this means for you, the resident. A changing of hands can mean change for your community living experience. However, there’s no need to worry as you seek out answers to those questions.
Because your new park owner has invested a lot of money into your park, they will likely work to ensure your best interests are considered.
If you’re wondering what changes you might see, here are just a few of the things that might happen when your mobile home park is sold:
Why Mobile Home Parks Are Sold
Before we go into what might happen when your mobile home park is sold, it’s important to discuss the why behind the sale.
One common reason is that your current park owner may choose to retire. Often they may choose to leave the park to a family member or trusted business partner. However, if they have no one to turn the park over to, they may choose to sell it.
Other times, your current ownership may choose to sell to an owner that’s more equipped to make upgrades and renovations. In these cases, you may see your owner sell to a larger company that’s experienced in park upgrades.
You May Have A New Park Manager
This is one of the most common occurrences when a mobile home park is sold. You’ll often see a new park manager or managers on the property. In fact, they may introduce themselves to the residents as they get to know everybody and learn what mobile home park residents are thinking about when it comes to their community.
After your park is sold, you may see more of your new park manager over the next few months. They often take this time to figure out what priorities they need to take to improve or maintain your community.
A New Name For Your Park
It’s common for a mobile home park to receive a new name shortly after it is sold.
A few months after your park or community is sold, you may see some changes to the signage around you. Specifically, you may see signs that say “Under New Management,” or signs with a new name for your park entirely.
There are a few reasons why a new park owner may choose to change its name. The most common is that, as your new park manager is making upgrades and renovations, they want a new name to reflect an all-new look.
What this won’t change, however, is your address. Because home addresses are usually registered with your city, those wouldn’t be changed if your community has a new name. So, if you live at 742 Evergreen Terrace, your address will stay the same, even if Pinewood Acres turns into Newport Village Estates.
This tradition didn’t start with mobile home parks. Many apartment buildings and condo complexes undergo similar naming changes when they are bought, too.
You May Get Some New Facilities
As time goes on after your park is sold, you may see some construction taking place. As your new park owners invest in your community, they may decide to build new facilities for the residents, or upgrade existing fixtures.
For example, your new park owner may decide to repave some of the sidewalks, or install new street lamps. These fixes would be geared toward the resident’s safety. Or, they may build new community amenities, such as a clubhouse or pool.
This, of course, is not a guarantee. Some park owners may choose to create new facilities on a longer-term basis, or not install any altogether. If you feel that your community needs a new amenity or facility, it’s best to contact your manager or owner directly. Thankfully, you can check out the MHVillager’s handy guide on contacting your park management or ownership.
You May See A Change In How Utilities Are Billed
No two manufactured home communities are alike when it comes to how they bill for utilities. For example, some may include internet as part of their monthly lot rent. Others may not include internet in their lot rent, but instead include trash pickup or the water bill.
If your park or community has a new owner, make sure you know whether the same utilities are covered under your lot rent. They may also let you know whether the covered amenities are changing. These days, it’s more popular than ever to bundle high-speed internet in with your lot rent, so your new ownership may choose to do that, for example.
You May Sign A New Lease
We saved one of the most important changes for last. If a park changes ownership, you may need to re-sign your lease with the new management.
The biggest reason you might need to do this is so that your new management has documentation that you’re a current resident of that park. Your old ownership most likely turned over all leasing documents to the new owners. However, your new management may want fresh leases under their own name.
If this is the case, your new management may meet with you to discuss your new lease. Alternatively, they may write you a letter or email detailing the new conditions of your lease.
Your new lease may go over some of the changes we talked about earlier. This would especially include whether there are any changes to how your utilities are billed. If your new management has adjusted rent to be in line with the local market, you’ll likely find that in your new lease as well.
Sometimes, the new park management may simply ask you to re-sign for the amount of time that was left on your prior lease. However, you may consider signing a full 12-month lease with your community, extending it that much further.
Are you looking for a new park to call home? If you are, head over to MHVillage to search for mobile home parks near you. On the nation’s leading platform for buying, selling, and renting manufactured homes, you can search for mobile home parks near you based on a number of criteria. These can include parks with virtual tours, parks that allow pets, and parks with homes for rent.