The Grissim Guides 2018 Home Buyer’s Outlook
John Grissim from The Grissim Guides had some very interesting things to say about the 2018 Home Buyer's Outlook. Here is one quote for potential home buyers that is relative to the business practices of Sierra Corporate Management (SCM) aka Kort & Scott Financial Group (KSFG).
Buying a Home in a Land-Lease Community
Be very careful about communities owned by large corporations, which have no souls. Some are quite good, others awful to the point of being predatory. These companies exist to make money for their shareholders and one way is incremental annual rent increases (usually in the 4%-5% range) that in a few short years can really put tenants living on fixed incomes in a bind. Research carefully.
The above quote describes the business practices of Sierra Corporate Management although the 4%-5% annual rent increases may be more in the 6%-8% range.
Be assured that the vast majority of the nation’s 50,000 manufactured home communities are owned by mom-and-pop proprietors who are good folks and who do an excellent job of protecting everyone’s interests, especially avoiding excessive rent increases. Still, when doing your research, be sure to talk to park residents (privately out of earshot of management) to ask questions about recent rent increases and related issues.
The above quote describes the business practices of “most mom-and-pop” mobile home park owners and “some corporations” This may have been how life once was before Kort & Scott Financial Group (KSFG) aka Sierra Corporate Management (SCM) purchased your mobile home park.
