Free Lot rent

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DCDiva
Posts: 191
Joined: Mon Oct 19, 2009 10:16 pm

For 2 years---Need to clear off/level lot,install drive way,install all utilities, city water/sewage is at road about 20 ft to lot,install Electric again about 20 ft to lot, plus clear off lot beside the lot of over growth,trees need removed or trimmed--once was a orchard area, benefit of reduced critters. Most of it is labor,some cost of getting the city to do the water/sewage--not sure of cost I am thinking 400
I own the lot--right now it is over grown and has a shed that needs torn down,but I have not one desire to put one dine in the property,it is a lot beside my other rental,they mow it but would love to not have too lol
I know a couple that has an older MH,can not find a lot,mainly due to age of mh and some lots are owned by Mh sellers and only put there mh's on a lot plus we have an oil boom in area and ppl are renting all lots to RV's for 4-6X a month lot rent would be...
I will have a lease as I want the property cleaned up #1 and do not have the extra money to put into it and I personally think 2 years free lot rent is fair for the cost they will have getting it useable.
Good plan? Advice?
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flcruising
Posts: 606
Joined: Mon Dec 03, 2007 2:18 pm
Location: Florida Panhandle

What is the size/condition of the area to be addressed? How level is it? How much does lot rent usually run for comparable?

When we went through all this on our property 5+ years ago, we spent over $10k to get it cleared, clean fill dirt, sod, well, septic, etc. Public utility tap fees here are in the $4k range alone. And our driveway is grass. We have slightly over 1 acre, but only 1/3 or so has been 'finished'.

My suggestion is to get hard estimates and market or adjust your terms based on that.
[color=blue]Aaron[/color]
DCDiva
Posts: 191
Joined: Mon Oct 19, 2009 10:16 pm

The tap for city water is 250 and sewage tap is 350,and to run the water/sewer to mh another 200 depending on cost of digging underground-- electric cost of pole,electric outside shut off and wire 200-300 range or more depending on where they let u set up the pole vs mh, lot needs brush and leveling done,dirt will need moved out of lot but right next door can use fill dirt and you can rent equipment for 200 for weekend or have someone do it--starts at 35 an hour and many have friends/relatives with lg equipment,drive way 500 or so depends on how big--rent of a lot runs 150-200 but that usually includes water---I am estimating 100 a month,so for 2 years free rent would equal 2400 in spending for the lot--I am being fair and told them if if they show me the receipts I would give them more months free if they spent more--up to another year.But if they do not clean off the lots like agreed I will not rent more than 2 years total. For me it is a win/win the lots are cleaned up of over growth and all the utilities are run for a mh,and does not cost me time or money.
I showed the couple the lot tonight and they are interested--gave them a paper with all of my terms listed and told them to think about it,get estimates on leveling the lot,cost of moving mh,town rules, to really get all the details worked out and to see if they have the money to do this, then get back to me with a yes or no,that they do not need me to go back to look over the lot with someone. Nice couple not sure if they are ready for all the work involved.
Seasider48
Posts: 15
Joined: Thu Apr 07, 2011 10:11 am

You might want to consider that they meet certain goals along the way. I tried doing this with an apartment when I bought a duplex some years back. It was always "we'll do it next month, next month." Finally had to raise the rent to its market value as they did nothing, they refused to pay and I had to spend more to get them out. Never again.
DCDiva
Posts: 191
Joined: Mon Oct 19, 2009 10:16 pm

Oh I agree, everyone wants something for nothing now days. Lots for mH are impossible to find any where in the area. This lot has a beautiful view of the Ohio River and the town and hills surrounding it and a large lot once leveled and cleaned of brush. I have not heard any more from them yet but told them to check everything out to make sure they are interested. Too much work lol.
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