Ep. 194 | Ferd Niemann on Right of First Refusals For Tenants - Pros and Cons

The Mobile Home Park Lawyer Podcast

Welcome back to the Mobile Home Park Lawyer Podcast! In this episode, we dive into the complex but crucial topic of the Right of First Refusal (ROFR) provisions in mobile home park (MHP) contracts and leases. Host Ferd Niemann breaks down the pros and cons of these provisions for both tenants and landlords, sharing insights on how the growing trend of statutory ROFR is impacting MHP transactions in various states.

Ferd covers why ROFR is gaining traction in 16 states and discusses real-life examples where these provisions come into play, including the financial, operational, and legal challenges landlords face when selling parks. He also explores how these rules can protect tenants from sudden evictions and provide opportunities for them to own the parks they live in, while also addressing the strain these provisions can place on the landlord-tenant relationship.

Whether you’re a park owner navigating state laws or a tenant exploring your rights, this episode will equip you with practical knowledge to handle the complexities of ROFR in real estate transactions. Tune in now for a comprehensive breakdown of this timely issue.

Highlights of the episode:

00:00:34 Introduction and overview by Ferd Niemann

00:01:05 What is Right of First Refusal (ROFR) and why it's becoming more common

00:03:15 How ROFR provisions impact landlords’ ability to sell mobile home parks

00:05:22 Key challenges tenants face in executing a ROFR

00:08:07 Financial and legal considerations for landlords

00:11:15 Real-life examples of ROFR transactions gone wrong

00:14:32 How ROFR can affect landlord-tenant relationships

00:17:02 Legislative trends and the growing influence of tenant rights in real estate

00:19:02 Final thoughts on navigating ROFR as a park owner or investor

00:20:00 Closing remarks and where to find more resources

Connecting with MHP Law:

Website: https://themobilehomelawyer.com/

Facebook: https://www.facebook.com/The-Mobile-Home-Park-Lawyer-103814958118069

LinkedIn: https://www.linkedin.com/in/themhplawyer-ferdniemann6923147/

Instagram: https://www.instagram.com/themhplawyer

#RightOfFirstRefusal #MobileHomePark #RealEstateInvestment #TenantRights