Vacancy Controls: Should You Charge for a Lease?
Ever wonder why mobilehome buyers didn’t demand leases before installing new homes back in the 1970's? Back when tenants had superior bargaining power? When tenants could “just say no” and walk away? Demand a “lease or no deal?” Tenants could have said all that – for security, certainty, predictability... and security! A lease encumbers a homesite with possessory rights for years. It endures through tenancy transfers, and beyond death. Leases specify rent adjustments even at time of transfer. No unexpected changes. Buyers could have just walked away. What happened? They didn’t. Tenants chose to assume risks of the market by not standing firm for leasing. They chose freedom over lease commitments. Tenants made the choice. They are not victims.