Prospective Homeowner Qualification Requirements
Park management does not list any homes for sale. You will need to locate listings online or contact your agent to find homes that are for sale in the park. You will receive an application for tenancy once we have been notified by the seller of a pending sale with a signed purchase agreement. If you have an accepted offer please complete the from below and email the purchase agreement to office@ranchodelreymhe.com.
Seller Forms
Notice of Termination of Tenancy - Notify the Park that the home is listed for sale.
Seller Notice of Accepted Offer - Notify the Park that the seller has accepted an offer.
Qualification Criteria
The following are the items of information management will require, and the standards that will be utilized in determining if the prospective homeowner will be is acceptable as a homeowner in the park:
Information required:
Fully executed purchase agreement for a mobilehome in the Park.
Fully executed Application for each person applying for tenancy.
Fully executed additional forms: Consent to Obtain Consumer Credit, Information for Prospective Homeowners, Mobilehome Rental Agreement Disclosure and Privacy Statement Form.
Color copy of applicant(s) State issued ID or Driver’s License
Two months of bank statements showing income deposits.
Two months of income supporting documents (Pay stubs, SSA Letter etc.)
Standards to be applied:
Applicant(s) must be at least 55 years of age. Additional occupants must be 18 years or older.
Co-applicant must be a spouse or an equivalent status financial unit.
Monthly Income must be at least three (3) times the monthly rent. Co-applicant income may be combined. A guarantor may be considered if income is below the requirement.
FICO credit score must be 650 or higher. Applicant/Co-applicant FICO scores are combined with the mean score used.
No evictions in the past 5 years.
Applicant(s) must not have a non-discharged bankruptcy in the past 5 years.
Application is evaluated on the ability of applicant(s) to conform to the (MRL) Mobile Home Residency Law and the Park’s Rules and Regulations.
References of past tenancy information and personal references are required and evaluated to confirm applicants will comply with the Rules and Regulations and MRL.
Restrictions are placed on pets. The limit is two (2) small pets per space. Dogs must be approved by management and must be no greater than 15 inches at the shoulders or weigh less than 22 pounds. Service Animals are exempt.
Within fifteen (15) business days of receiving all of the information requested from an applicant, we will notify the seller and the applicant in writing of either acceptance or rejection as required by Civil Code Section 798.74(a).