FAQ's
The secret of good manufactured home living is in the management. In subdivision communities where residents purchase lots, management loses its control. Human nature being what it is, the community, made up of people—all with different ideas of what should be done, how things should be done, and how much money should be spent and on which items—soon gets bogged down in controversy. For example, in a lifetime land lease community, rules and regulations assure minimum standards in the community, assure that all homes are well-maintained, and assure that no one will create an eyesore or disturb his neighbors. A good close look at any comparably sized subdivision community should answer the question of why less than 15% of the better manufactured home communities sell rather than lease the land. Incidentally, after the lot has been purchased with a considerable cash outlay, a monthly maintenance fee must still be paid to maintain the common areas. The fee in most good subdivision communities is comparable to our land lease, except that there is no guarantee on the subdivision maintenance fee.
Can my rights as a land lessee be protected?
Yes, under Chapter 723 of the Florida Statutes, you are furnished a prospectus which has been approved by the State of Florida, and which sets forth in detail your lease rights, services furnished by the manufactured home community management, any lease adjustment formula, plus other matters which result in a greater controlled community for homeowners in land lease rental communities than those in subdivisions.
Can my lease rate be increased?
Yes. But unlike communities where you have no control over arbitrary and unjustified lease or rent increases, Southport Springs has a Guaranteed Lifetime Lease program. Southport Springs, too, is affected by inflation and must make periodic adjustments to offset operating costs and expenses which it must pay and are included in your land lease. The Southport Springs lease guarantees, however, that these adjustments will never exceed the greater of 5% or the government Consumer Price Index (CPI). Without these justified increases it would be very difficult to maintain Southport Springs' high standards of service and maintenance in an inflationary economy.
Can you show me an example of how this works?
Should the CPI go up 5% then your land lease would go up no more than 5%. On a $249 per month lot, for example, this would amount to about $13. At the same time your Social Security check, and probably your pension check, should increase 5%.