When buying a mobile home in the greater Sarasota Florida area, one of the first decisions is whether to rent the land within a mobile home park or buy the land along with the home. This distinction directly affects your payments, either as lot rent or Homeowners Association (HOA) fees. Understanding these differences can save you time, money, and headaches when purchasing a mobile home.
In Florida, mobile homes on leased land are considered personal property, not real estate. Buying this type of home involves transferring a title, not a deed, similar to purchasing a vehicle. Lot rent is paid monthly to the mobile home park and often includes services such as water, sewer, trash, lawn care, and access to amenities like pools and walking trails.
Conversely, purchasing a mobile home with land included is considered a real estate transaction. Here, the home comes with a land deed and typically involves HOA fees. These fees generally cover the maintenance of community infrastructure, such as streets, common areas, and amenities, but usually exclude utilities and services specific to the home itself.
Understanding HOA
Homeowners Associations (HOAs) are organizations that create and enforce community rules. Membership is automatic when buying a property within an HOA jurisdiction, and owners are required to pay dues. HOAs often maintain pools, clubhouses, landscaping, and external repairs. They can help preserve property values and maintain a uniform appearance across the community.
However, HOAs can have downsides. Dues can be expensive, rules restrictive, and some associations may be mismanaged. Common restrictions include pet limits, home modifications, or rental limitations. In extreme cases, HOA fees are mandatory, and failure to pay can result in legal consequences.
- Paying for amenities you don’t use
- Risk of foreclosure by the HOA
- Limited freedom in home appearance and modifications
- Restrictions in your yard, including fences and plants
- Pet ownership limitations
- Restrictions on renting your home
- Potential liability for unpaid fees from previous owners
Key Differences Between Lot Rent and HOA
Mobile home park lot rent and HOA fees serve different purposes. Lot rent covers the land your home sits on, including infrastructure, taxes, and park maintenance. This rent can increase over time and is typically paid monthly or annually.
On the other hand, HOA fees are for maintaining common amenities and community services. These fees are usually fixed and do not increase regularly. Understanding this distinction is crucial when budgeting for a new home in Sarasota Florida.
In summary, lot rent pays for the land under your mobile home, while HOA fees maintain shared community amenities. Lot rent is variable, while HOA fees are generally stable. Knowing these differences helps Buyers make informed decisions when purchasing a home in a mobile home park or an HOA community.
This is Mark Kaiser with The Mobile Home Dealer. We help mobile home Buyers and Sellers get to a better place in life.
I own my mobile home & rent the lot. In November we were required to pay $79 for owners Insurance. Effective January base rent increased to 46.98, market rent adjustment $50, real estate tax recovery $71.92,storm water pass on $10.88. according to FMO it is illegal to charge us for renting lot, real estate,etc. Our HOA does not get involved? Please advise. Thank You 386-265-3671
Do you own the land in a 55 and older HOA mobile home community