The latest trend in real Estate? (low income, lease, condos)

[barefoot14]

Have you (or anyone you know) lived in a mobile home park that was bought by developers within the past 10 years? Did you have to vacate the property? Did you lose everything or were you given compensation? Was there a legal battle? What was the park developed into (condos, low income housing, shopping center)? I am VERY interested in your story. Thank you to all those who respond.

[froggin4colorado]

There was a park in Fountain, Colorado that went through this..it took a couple of years before all the tenants left. What they did was simply not allow them to renew their lease on their land. They owned their mobile home but not their land- so the owner of the land sold the land and the company basically managed it and didn't allow anyone to continue their lease another year. After everyone abandoned their mobile home or moved it, that's when the company started building townhomes. However, that construction project is at a stand still..dry wall is up and they have stopped. Not sure why unless they ran out of money. That is all I know as of now...

[barefoot14]

Dear froggin4colorado-
Thanks for the input. The park I live in was recently bought by a developer and we are looking to see what others in this situation have done.

[Drover]

Unless you have a deed to the plot your trailer is sitting on, you're pretty much SOL if and when they decide it's time to develop the land. If they decide not to renew your lease, you will have approximately zero recourse.