A $1.5 million Manufactured Home Museum in Elkhart will be constructed during 2021.
The RV/MH Heritage Foundation has approved a plan to construct a new $1.5 million, 20,000 square-foot Manufactured Home Museum.
“The new museum will be built as a wing on the northeast side of the existing RV/MH Hall of Fame in Elkhart,” foundation President Darryl Searer said. “The entire space will be dedicated to showcasing the manufactured housing industry and will include exciting exhibits, interactive displays, historical artifacts, and generational manufactured houses for the public to view and tour.”
Searer said the museum will be a unique and historical public experience dedicated to the industry, and will include exhibits and attractions specifically designed for families and children.
“This will be a state-of-the-art museum and create a masterpiece in the manufactured home industry,” Searer said. “As its birthplace, Elkhart, Ind., will now have a claim to the pinnacle of manufactured home museums to celebrate the industry.”
Manufactured Homes of the Past, Future
Foundation board member Jim Scoular, of Jimsco, Inc., has been a driving force on the Manufactured Home Museum project, Searer said.
“This museum will celebrate the history of our industry, showcase the homes of today and provide a window into futuristic mobile and modular housing,” Scoular said.
The museum will serve as an educational destination to learn about affordable non-subsidized housing, with captivating displays and interesting insights into all aspects of the industry.
Factories, dealerships, suppliers, manufactured housing communities, transporters, banking, and all other aspects of the industry will be featured and honored.
The museum is on a fast track to completion with final plans expected Feb. 15 and construction starting April 15. Searer said the plan is to have construction wrapped up in September.
“This will bring a whole new excitement for the MH Industry,” he said. “It will bring a new energy and balance to the Hall of Fame.”
5,000 Square Foot Collaborative Space is More than a Design Center
Clayton, a leading homebuilder based in Knoxville, Tenn., has fully opened its Home Innovation Lab after more than a year in development.
The new space is a dedicated home-base for architects, engineers, 3D rendering and interior design teams. It provides a unique and versatile place where Clayton teams can collaborate using innovative technology to create and design Clayton Built® homes that keep the buyers’ needs and lifestyle at the forefront of the building process.
“Clayton is invested in constantly improving its home designs and providing innovative features to our homes,” Clayton Home Building Group President Keith Holdbrooks said. “We have invested in assembling these world-class teams, who together have a wide array of backgrounds in architecture and interior design, to deliver beautiful homes that meet our customers’ evolving needs.”
Material Samples, Virtual Reality, Collaboration
The Lab provides a workspace and acts as a think tank for all Clayton team members involved in the design process, from engineers and architects to material management and production team members. It also houses the sample materials workroom with building materials from brand partners displayed for optimized decision making when choosing finishes and upgrades. The presentation and virtual reality space showcase the end result of home designs.
This progressive approach and commitment to forward-thinking design is what helps keep Clayton ahead of the curve.
Clayton interior design team members attend and present at design and home conferences throughout the country each year and continuously study how homeowners live in their homes to ensure homes are functional as well as beautiful. Additionally, the Clayton Insights team specializes in discovering and dissecting housing trends, how today’s individuals and families live and who home buyers are.
“The use of innovative technology has added a seamless element to the home building design process,” Interior Design Manager Megan Foster said. “We can tweak options within floor plans and design elements to see what the home would look like, all in virtual reality, cutting the expense of building a physical prototype. We have the capability to view different finishes and virtually build features we’ve learned our customers are looking for, such as flexible spaces for home offices or multi-functional storage nooks.”
MHInsider Spoke with Foster for a Q&A during the development of the Home Innovation Lab. What follows is the result of that conversation.
Clayton team members select materials for a new interior design approach for their homes. All photos courtesy of Clayton. Some images captured prior to March 2020.
Q&A with Interior Design Manager Megan Foster
What was the concept/strategy at play during the time of the initial conversation regarding a designated space like this in Maryville?
As we traveled the country, visiting every Clayton home building facility, we found that each facility was completely different when speaking about design capabilities and product options. Some facilities were really great with design and floor plans. However, some facilities could benefit from additional resources. So, the conversation of having a facility to support our 40 home building facilities really started to become important. We truly needed a collaboration space to provide design services for a consistency that was felt to be missing.
How has that initial vision evolved with further conversation and development of the space?
Originally it was more on the design side, but it has evolved into the addition of architects, engineers, and 3D rendering teams all in one space.
Can you detail for us the size of the space, where it’s configured at the headquarters, and what elements were brought in for use of the space?
The Home Innovation Lab is approximately 5,000 square feet, with multiple workspaces including presentation rooms, collaborative sitting rooms, and office areas. It is located directly behind our Corporate Headquarters in Maryville, Tenn.
Clearly, you were very involved with the development of the space. Who else was leading the charge?
Our in-house interior design team was involved, specifically Ashley Skowron and Ryan Burgess. Local contractor Joseph Construction managed the project, while local firm Johnson Architecture served as the architect.
How was the development of this space informed by customer needs? Who are these customers?
We have really built out our teams with experienced, high-talent level, creative individuals with different skill sets that really round out this department well. There is the addition of an in-house Insights position that specializes in spotting trends, how today’s family lives, and who our home buyers are. We have an opportunity with the age of social media to instantly poll our followers to get directional feedback. That just adds another layer of information and affirmation that we are headed in the right direction.
Our customer is our home building facility and our job is to equip them with the latest trends for their region, and for their target customer. We are continuously working with our retail partners and can’t wait for them to have an opportunity to visit the Home Innovation Lab so we can further showcase our process.
How do you envision the use of this space impacting the market? Is there a 3-year, or 5-year plan for what its use should result in?
Technology plays a big role…we offer virtual prototypes, which provide more consistency throughout the building process, along with visual aids that assist in selling tools, as well as production.
Greater efficiencies in our building process will be achieved due to the fact that we have built out this team of architects, engineers, and designers who are constantly collaborating and working on new and improved homes.
The space allows us to work closer with vendors to develop the most innovative and creative materials to bring to market. We have a great opportunity to create materials that typically may not be available in our industry and make them available, production-friendly and appropriate for design trends…all in one. That’s pretty cool.
2021 Loan Volume Caps Set at $70 Billion for Each Enterprise
In mid November the Federal Housing Finance Agency announced its 2021 requirements for Fannie Mae and Freddie Mac, with several changes in the mix for manufactured housing.
FHFA set lending caps for each of the Enterprises at $70 billion for the year, for a total of $140,000 billion in volume, a reduction of $60 billion. The schedule for the lowered loan volume cap is for the four quarters of 2021, rather than the five-quarter schedule implemented in previous years.
“Multifamily housing is a critical component of the nation’s housing supply and especially of its affordable housing stock. As we continue to address the shortage of affordable housing, especially amid the COVID crisis, FHFA will keep a close eye on the multifamily caps to ensure that they are sufficient and serve to increase the supply of affordable housing but do not crowd out private capital,” FHFA Director Mark Calabria said.
At least 50% of 2021 lending activity from the Enterprises, in order to get credit under Duty to Serve, must be tied to mission-driven affordable housing, including manufactured housing communities that for the first time must provide resident protections outlined by Freddie and Fannie in the Duty to Serve plan, or be communities owned by a nonprofit, the residents, or the government.
The new FHFA standard is heightened from the current 37.5% mission-driven, affordable housing mandate.
For 2021, mission-driven business is defined as affordable for residents at 80% of area median income. At least 20% of multifamily loan volume must be affordable for residents at 60% of AMI.
Tenant lease protections have been in use regularly leading up to the mandate, often exercised not only to provide security for residents but also to gain improved commercial lending terms.
Brett Taft is the Vice President and Chief Operating Officer for UMH Properties, which owns and operates communities in eight states.
“On our last GSE deal we received a substantial credit towards third party reports and a reduced interest rate,” Taft said. “By requiring the TSLPs it may deter some operators from obtaining the GSE loans or increase the cost, but we have been able to offer our residents the TSLPs.”
However, to this point, the plan is offered only for communities that lease space for resident-owned homes.
“In order to qualify for financing a certain percentage of the leases must have these TLSP protections,” Taft said. “We have worked with the GSE’s in the past to make accommodations for rental homes that are unable to institute the TSLPs. Rental homes in our communities provide the best quality affordable housing in any market. Apartments can also be considered affordable housing which qualify for the DTS credits. Our belief is that the rental homes will be classified more similarly to the apartment model. We expect additional clarity on the matter in the coming weeks.”
The trying times are spread far and wide, especially for those who have become stricken with COVID-19.
ROC USA, a national nonprofit organization that aids manufactured home community residents in purchasing the land they live on, is raising funds and taking requests from the residents most in need of help during the pandemic.
“We’re trying to alleviate some of the burden that comes with COVID-19 diagnosis by covering lot rent for at least a month, and in the case of a hospitalization we issue extra funds,” ROC USA President Paul Bradley said.
ROC USA, based in New Hampshire, takes aid applications from COVID positive residents who live in its national network of resident-owned communities.
“We started this program in late March and we’ve received $8,400 from individual donations. We’ve matched that dollar for dollar, and will continue to match funds up to $10,000,” Bradley said.
And all of the proceeds raised will go toward helping residents who are struggling with a COVID diagnosis. ROC USA also is donating proceeds from its Amazon Smile program to the fund.
The payment for lot rent is sent to the property manager on behalf of the ailing resident, which both relieves the stress of monthly expenses and provides the needed physical distance to help reduce the rate likelihood of catching and spreading the virus.
The ‘Bearers of Good News’ During Difficult Times
When the property manager learns the lot rent is being paid, they get to tell the resident in an email, text message, or in a quick and distant masked visit, as needed.
“I’ve had several managers say ‘Thank you for letting us be the ones to be the bearers of good news,’” ROC USA Digital Media Specialist Samantha Chickering said. “The role of a property manager can be difficult, especially with everything that’s happening right now. To be able to offer some relief, some solace is important for everyone.”
ROC USA has received more than 60 individual donations from its network of nonprofits, industry leaders, and residents too. More than half of the donations were for $50 or less. Funds from the COVID-19 Emergency Grant Program have gone to residents in 10 states, with more activity in some than others.
“We’ve had quite a few applications from Washington state and quite a few from Minnesota,” Chickering said. “We won’t hear from anyone for a while, and then we’ll get a whole bunch of applications from the same area. The path of our grants geographically has been very similar to how the virus has moved.”
Funding COVID-19 Relief Where It’s Needed
Early in the pandemic, a resident in New England who managed all of the home finances became ill. He died in April. His wife applied for assistance, and was provided a break from at least one of the expenses she would have to start managing, while managing the grief of losing her husband.
“She really needed help. There was so much to do, and she didn’t even know where to start,” Chickering said. “We were able to provide funds for three months of lot rent.”
Two other families of residents who lost a family member living in the home were provided three months of assistance as well. A family in Washington also received extended funding from the program.
A pregnant couple with several children at home had the virus spread through their family. The mother was hospitalized. All of the children became infected, and the father had to quarantine and care of for his ailing children.
“They’re on the mend though, the entire family is on the mend. Mom and the new baby are home,” Chickering said. “It’s surprising the dad never got it, but he was also not able to work.
“So, yes, the need is there, and we feel like we’re providing grants in places where it’s extremely important to help,” she said. “We’re getting overwhelmingly positive communication from residents who have been ill and are recovering. They’re very grateful for the assistance they’ve received.”
ROC USA is taking donations to the fund through its GoFundMe page, and network residents or household family members of network residents who have tested positive for COVID-19 can apply for assistance at the ROC USA site.
Parkview Homes, a 220-site manufactured home community in Lexington, Minn., was awarded a $435,000 settlement after five years of litigation regarding the local preemption of 20 state permit applications for new homes.
In a closed meeting, the city of Lexington discussed the settlement related to the complaint Parkview Homes LLC v. City of Lexington.
Parkview Homes, an Oregon-based owner and operator, purchased the community in 2014 with anticipating of filling 35 vacant lots. The following year, Parkview filed applications for building permits to add 22 new homes. Two of the permits were granted, 20 were denied.
The company filed multiple complaints against the city for blocking the new homes, and those lawsuits made their way through state and federal courts before the city opted to settle. In addition to the cash settlement, terms include a provision requiring the city to issue the 20 building permits that had been denied in 2015.
The U.S. District Court of Minnesota had determined the city’s preemption of state licenses for placing the homes could be based only on construction standards and safety of the home itself, and not on operating condition of utilities in the manufactured home community.
Settlement of the Parkview Homes Case
Upon the settlement of the case, the city of Lexington issued a statement through its attorney, Justin Templin.
“The city had ongoing concerns about maintenance, compliance with legal requirements and public health and safety in the park — particularly with regard to the park’s aging private water system — that would be made more pressing by adding more units to the park,” Templin said. “The city attempted to engage Parkview in a discussion about those issues, but Parkview sued the city and the matter has been in litigation for five years since.”
The city also agreed to the current use of the community water system through at least 2026. In addition to the monetary award, permitting, and operating provisions, Parkview is entitled to repayment of expenses related to the lawsuit.
Templin followed by stating the parties have put in place a “more expedient system to resolve any future disputes”.
Parkview asserts that the city had used its permitting process to halt residential expansion as means to force a redevelopment plan that would change the property from affordable housing, and potentially to an altogether different use.
Whether or not your state employed a “stay-at-home” order, it’s been clear that traveling and managing remote properties has become increasingly difficult. Traditionally, manufactured housing community owners have been able to manage multiple properties across the country because of on-site staff and the ease of travel for regional managers and corporate staff.
During recent months with coronavirus precautions and restrictions, traveling has been made very difficult, if not impossible. Many corporations have implemented a freeze on travel — either out of due caution or cost-cutting measures — and some employees simply cannot or are unwilling leave home overnight for many reasons, including childcare.
So how do community owners and operators ensure that their properties are meeting expectations?
Hire A Qualified Third-Party Manager
Here’s one idea: Trust a qualified representative to visit the communities on your behalf.
Blank Family Communities, for example, visits MH communities located in Michigan, Ohio, Indiana, and Illinois for owner/operators who are located out of state and cannot easily or safely get to their properties. Third-party management provides the service for less than it costs most out of state operators to fly corporate staff to communities. There are no cars to rent, no flights to book, no hotels to stay in and no dinners to expense. This keeps staff safe, while keeping the insight on your properties where it should be.
Most hired property managers take less than full management of a client’s properties. Rather, it takes over the “boots on the ground look” at each property, bringing an owner’s perspective, making sure the most important aspects of the community are in good working order. It may also provide secondary services and aid in ways that may be unforeseen at the time two parties enter the contract, particularly with the dynamic nature of community operations and management under the best protocols to prevent the spread of COVID-19. As ever, the effort is to provide great value in a safe, healthy living environment.
Most hired management companies set a monthly schedule for visiting properties. For Blank Family Properties, given the uncertainty of the global health crisis, the contractual commitment is offered on a month-to-month basis.
The monthly visit is followed up by sending the owner/operator an in-depth site-inspection report and high-definition video drive-through to vividly show the current condition of the community.
Some Areas Third-Party Management Can Cover:
Aid in ongoing construction projects
Help with collections and delinquency
Community curb appeal
Communication and aid with corporate staff on ongoing to-do list items
When you can’t get to your property, reports from an on-site manager won’t give you all of the information you need to make informed decisions. But it offers the best way to be there without being there. To find a third-party management company in or near the market of your properties, take a look at regional to national providers in theService Providers section of the MHInsider Buyer’s Guide — search for property management.
Minimum Per Section Compensation Goes from $2.50 to $14 for Participating States
HUD Secretary Ben Carson
The Department of Housing and Urban Development recently published a final rule in the Federal Register to take effect Dec. 14 that increases payments to states participating as State Administrative Agencies in the department’s manufactured housing program.
Participating and compliant State Administrative Agencies in the 33 U.S. states that carry out manufactured housing oversight programs will see the minimum per home section federal payment increase from $2.50 to $14.
Manufactured housing programs in the state of Florida, where there are eight homebuilding facilities, may see increased annual revenue of about $70,000, the Florida Manufactured Housing Association recently stated.
The minimum $9 payment per shipment of a home within or into a state for participating agencies will remain.
“More than 22 million Americans have used manufactured homes as a means of attaining the stability and financial independence of homeownership, particularly in areas where housing affordability is a challenge,” HUD Secretary Ben Carson said. “Making sure that states are appropriately compensated for the work they do to ensure the safety and affordability of these manufactured homes, for families within their own communities, is both right and responsible.”
The goal for the final rule placed to the Federal Register is that the revised payment formula in the Manufactured Home Procedural and Enforcement Regulations will make the payout more commensurate with the level of manufactured housing production and the associated work performed in a state when a manufactured home is produced an installed.
In addition to the per-floor increase, HUD for the first time in two decades will allow participants that have received conditional approval to receive fiscal year-end supplemental payments for work performed.
“This is another example of HUD reducing barriers to the adoption of manufactured housing as an affordable housing alternative,” said Assistant Secretary for Housing Dana Wade. “States are valuable partners in this process. We believe this change will strengthen existing partnerships, incentivize more states to participate in the program, and reduce the reliance on federal resources for activities that are more appropriately handled at the state and local level.”
Advance Notice of Proposed Rulemaking
HUD also published an Advance Notice of Proposed Rulemaking for public comment on additional refinements to state payments. The considerations include additional options to fund state participation in a way that recognizes contributions and incentivize participation in the manufactured housing program.
HUD’s Office of Manufactured Housing Programs administers the National Manufactured Housing Construction and Safety Standards Act of 1974 which authorizes HUD to establish federal standards for the design and construction of manufactured homes to assure quality, durability, safety, and affordability. The standards are carried out directly or through states that have partnered with HUD to inspect factories and retailer lots, implement installation standards for the homes, and administer a dispute resolution program.
Kentucky Expo Center is the venue for the 2023 Louisville Manufactured Housing Show Jan. 18-20. Industry professionals only.
The Louisville Manufactured Housing Show, the Midwest’s premier event for manufactured housing professionals, previously scheduled for Jan. 20-22 has been canceled. Plans are underway for the annual event’s return in 2022.
For more than 60 years, The Louisville Show has brought together the latest manufactured home designs, tech specialists, and a top network of suppliers in the manufactured housing industry. In 2020, The Louisville Show attracted a near-record 3,536 attendees from 1,130 companies.
“The Louisville Show offers manufactured housing professionals the most robust introduction to the latest trends and opportunities in the industry, from home design to materials and all of the new and improved products and services to be considered,” Chairman Byron Stroud said. “The educational and networking opportunities in Louisville are unlike anywhere in the industry, and they improve each year.”
The Louisville Manufactured Housing Show allows exhibitors to display their products and services at the place where qualified industry buyers come for ideas and inspiration. January is an optimal time to understand customers’ wants and needs as they prepare for the spring selling season.
Though there continue to be concerns and restrictions in place due to COVID-19, those restrictions are lifting and most markets in the nation are getting back to business.
“By the end of January, we anticipate the situation will have improved significantly and the show will proceed as planned,” Show Coordinator Dennis Hill said. “Obviously, the health and safety of everyone attending remains our highest priority. So, we will be closely monitoring and following all CDC and local guidelines that are in place in January.”
In addition, hand sanitizer stations will be set up in key locations throughout the show for use by attendees and exhibitors.
Exhibitor Opportunities Open Soon
Exhibit space will sell out fast, so join the mailing list to keep up on the latest event news including reminders on deadlines for exhibit entry, sponsorship, registration, and activities.
For 2022, The Louisville Show will operate with a new floor plan that places supplier exhibitors in a more central location among the manufacturer exhibitors.
“We believe the new floor plan with service and supply professionals set up within greater proximity to all of the homes will increase attendee access and traffic flow more evenly through the show,” Hill said.
General registration details for Louisville 2022 will be announced in the coming months.
Each year, The Louisville Show is organized and presented by The Midwest Manufactured Housing Federation, which represents the states of Kentucky, Indiana, Ohio, Michigan, and Illinois.
As an industry trade event, the 2022 Louisville Show is not open to the public. For more information, visit The Louisville Show website at www.thelouisvilleshow.com.
Matt Rearden is the chief operating officers at Four Star Homes in Central Florida. Photos courtesy of Four Star.
By Matt Rearden
2020 has been a unique year, bringing with it a pandemic that resulted in a shift in the way people buy and sell manufactured homes.
The year started with a bang as one of the strongest beginnings in the Central Florida manufactured housing resale market. Then, the COVID-19 pandemic hit toward the end of the first quarter. The state of Florida began a lockdown to try to control the spread of the virus, and several cities and counties in Florida were in a heightened state of awareness.
Yet when Florida moved into Phase II of reopening, what we saw was an immediate backlog in demand. People wanted to buy manufactured homes, and they wanted them quickly.
Manufactured Home Buyers Are Motivated
The major trend we have observed this year is a lot of interest and sales from buyers in northern states. Florida has always attracted retirees and snowbirds from all across the U.S., but this year has shown a specific increase from that geographic region. A lot of our call volume, web traffic, and purchasers are coming from the north, from people who are looking to escape some of the more populous areas and retire early in Florida manufactured homes.
With both a backlog in demand and highly motivated home buyers wanting to move quickly, many are purchasing sight unseen, making their decision based on video consultations and virtual home tours. Being able to meet these buyers where they are, online and by phone, has been crucial to keeping business going.
Our northern clients are looking for wide-open spaces, affordable housing, and sunshine—all of which are readily available in the Central Florida manufactured housing market. Many also seek the lifestyle and amenities afforded by the various mobile home communities, some of which they may not have seen up north.
Central Florida Community Residents Are Staying Put
On the other hand, we have seen a downtrend in inner-city moves within Central Florida this year. More are staying where they are because they love the area, community, neighbors, and amenities, and are financially comfortable with their current monthly payments.
Another trend we have noticed is more mobile home communities being purchased by new owners and an increase in the market rate for lot rent. Lot rent increases can change the resale market. The price of homes tend to shift down to accommodate the higher monthly payments with the intention of keeping manufactured housing affordable and finding qualified buyers. This could be another reason why more buyers are coming from out of state while in-state residents are staying put.
For example, a northern client who has lived in their site-built home for 25 or more years will have earned a good amount of equity when their house is sold. They are often able to purchase a manufactured home without financing and can easily afford lot rent at a higher market rate.
It’s Really About Lifestyle
As previously mentioned, these buyers also seek the lifestyle and amenities available in Florida manufactured home communities, which creates additional value for them. Manufactured homes are more easily cared for and maintained than most standard site-built homes, and many communities include services like lawn care, irrigation, and trash removal.
The communities that seem to be most successful in holding home values while also increasing the monthly lot rent are the ones reinvesting in the communities and homes. While residents are never thrilled with a lot rent increase, we are seeing that when new owners quickly add value or amenities, it becomes a win-win. Some of the unique things we have seen are new community owners remodeling outdated clubhouses, paving roads and sidewalks, purchasing new shutters for every home in the community and even putting in new brick paver driveways. When this is done, we tend to see happy residents (both current and new), an increase in value for all of the homes in the community, and the attraction of new buyers.
Despite shifts in the market rate for lot rent and a global pandemic, the manufactured housing resale market in Central Florida is trending very well. Even with a dip early in the year, sales are on par with last year overall. The fact remains that manufactured housing remains a very affordable alternative to rented properties and site-built homes. Manufactured housing community residents get a sense of community, tons of amenities, and included services.
It is the job of Four Star sales agents to educate buyers on the value of lot rent and detail the benefits that come along with their monthly payment.
Editor’s Note: Second installment of a 2-part overview on community owners’ best practices for debt collection, originally published in MHInsider Magazine. Part I covers delinquency-to-eviction collections.
If it’s not enough that you’re exhausted by the process of rent collection, you’re stuck with the accumulation of unpaid rent and fees, along with potential damages and other expenses. Throw in the accelerated rent if you’re not able to quickly mitigate your damages and re-let the home or site, and these post-eviction outstanding balances can be shocking.
What’s Next?
After sending your security deposit notice and demand for payment, you could pick up the phone and call the resident about payment, but they have very little incentive to pay now that the symbiotic part of your relationship has come to an end. Unfortunately, this is typically where the ability of you or your staff to collect these payments runs its course. However, This does not mean give up or write it off and move on — but it is time to internally cut your losses and pursue a third-party alternative to collect that money — it’s your revenue and you deserve it.
Often out of habit, the shortcut option that comes to mind is to hire a collection agency. There are many reasons these boiler-room bill collectors add little value, which is why community owners or operators should turn to a debt collection law firm – beyond the cash value of actual success collecting, law firms are far better equipped to shield their clients from liability.
Bill collectors are handcuffed in their abilities to collect from your debtors – that’s why it’s easy to understand that anecdotally their gross collections rates are most often at 5%. All they can really do is beg for your money with letters and phone calls and have no real tools at their disposal to incentivize these payments other than massive discounts or penny-ante payment plans. You know this is an exercise in futility because you’ve already asked for the money on multiple occasions and had no success.
The Work of a Debt Collection Law Firm
Conversely, a debt collection law firm has an arsenal of tools to legally compel payment. The first letter and phone call from a collection law firm comes with the signature of authority of an attorney and your debtors will understand you are serious about getting paid. If negotiations for a payment plan or settlement do not quickly materialize between the firm and the debtor, the firm will file a lawsuit on your behalf. This will allow the firm to obtain a judgment on your behalf and, depending on where your communities are located; garnish wages, bank accounts, and state income tax returns; seize cars and other assets; lien real property; and compel a debtor’s appearance in court to satisfy a judgment.
Qualified debt collection law firms understand the operation of a manufactured housing community and the laws regulating how you do business, but they’re also studied in the legal risks involved in debt collection, another area where those bill collectors are known to be reckless. Law firms often employ compliance attorneys to ensure the firm is acting responsibly on your behalf. The reality is that the debt collection field – especially as it relates to manufactured housing – is becoming more legally hazardous as time passes. Exposing your community to the unnecessary potential for lawsuits or penalties eventually will hurt your bottom line and rack up losses more damaging than just the defaulting residents.
Constructing a standard operating procedure from move-in to post-eviction collections can be arduous, but the long-term benefits for your community are overwhelming. Take the time to consider today how to improve the best practices to boost cash flow and reduce the likelihood of defaults.
In August, the RV/MH Hall of Fame will celebrate the 2025 class of inductees, five from each industry.
“Our selection committees held meetings to review...
Clayton, a leading homebuilder based in Knoxville, Tenn., has fully opened its Home Innovation Lab after more than a year in development.
