Ground rent is refering to the actual legal term of land ownership. "leasehold" ownership means you don't own the land you pay a rent to the land owners. You own the stick built, mobile home or pre-fab on the land. That price varies from one mobile home park to another. It is important to check and see how many years remain on the "lease hold" ownership it can vary from just a couple years remaining or more than 99 years and makes a big difference to the value of the property. These ground rents are common here in my local area and I recently renegotiated one for a client in Lewes Delaware just off the bay. It is nice to have low fee's and a good community but it is better to own the land in "fee simple" ownership. We have some properties that fit your criteria but you own the land. Please don't hesitate to call or write with any questions or concerns. Have a nice day.
I hope this finds you well. Ground rent simply means that one person owns the land and a different person owns the structure/home. The person who owns the structure/home, must pay "rent" to the land owner in order to keep their structure/home on the land. We have several mobile home parks in Sussex County where the home owner does not own the land upon which the mobile sits and therefore pays a monthly rent to the land owner. Not all mobile homes are on rented ground though. There are several that are "fee simple" which means that you own the land.
If you have further questions or if this explanation is not clear, please feel free to give us a call any time.
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