Me, Home Buyer in Mira Loma, CA

what is the space rent?

Asked by Me, Mira Loma, CA Wed May 8, 2013

This question was asked from http://www.trulia.com/property/3115640230-7231-San-Luis-St-1…

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The space rent here by the lake is $1258 a month. Where else in Carlsbad can you live for this price? Taxes are $79 a year. --The Owner
0 votes Thank Flag Link Wed May 15, 2013
Space rent essentially covers the space (or lot) you are leasing that the manufactured or mobile home sits on. This is otherwise known as "Lease Land" as the owner of the land has likely leased the land (usually for 99 years as they want to retain rights for future use with the land. This is most common with Mobile home parks but can be found on single family dwelling developments as well. One extreme example would be the Monarch Beach development up in South Orange County (which is the very south end of Laguna Beach). The molten family has owned this for over 100 years and allowed the development of multimillion dollar homes on land that they own but allowed individual homeowners to lease lots for up to 99 years. In this particular situation, the Moulton family is now selling the 214 lots to each individual homeowner. In this case, the landowner decided to relinquish the lots to the existing homeowners. Often times, with mobile home parks, they located in up-and-coming redevelopment areas and the owner of the property would like to retain the right to sell it to another developer or develop the property themselves when the market is performing...

On a "Fee Simple" purchase, you own both the land & the improvements. I hope that helps.

Contact me if you would like more information.
0 votes Thank Flag Link Wed May 8, 2013
The space rent for this property is the lowest in Lakeshore Gardens at $999 per month. The home has a view of one of the nicest lakes but yet does not have to pay the Lake space rent. The home was recently completely renovated and has a side yard for a dog or a nice patio. I live in Lakeshore Gardens and have the most accurate knowledge of the park to help you find the home that is right for you.
0 votes Thank Flag Link Wed May 8, 2013
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