In a market Q&A story Mobile-home land grab riles new homeowner [MW] a reader submits a question about the rights of park owners to evict their tenants in order to re-develop the land.
Rapidly rising real estate prices over the past 5 years have caused many to pause and reflect about whether the asset, in this case a mobile home park, is being used to its full potential.
Its not so much the details of this situation I find so interesting, but its the whole concept of alternative or highest and best use.
- Trailer Trash Talk — In the case of the trailer park, many are on leased land and if the landlord chooses to sell the property for development, the landlord simply refuses to renew the leases.
Recent posts on this topic in Matrix
Hotel Conversion to Condo [Matrix] — The value discrepency between hotels and condos is so pronounced, that it may takes years for the hotel room counts to meet demand.
Boy Scout Camp Grounds [Matrix] — Many Boy Scout organizations are sitting on a windfall as ranks thin and assets are underutilized.